Some people think that the best way to tj3 a business is within the family. What are the advantages and disadvantages of family run business

Controversial opinions have formed around running a business that debates whether it is best to run a business by a family or not. Certainly, many merits and demerits have been presented in these arguments wherein states the importance of loyalty in family-based vs performance in other businesses. I, personally, opine against the statement and believe that a group of strangers could perform better. On the one hand, of the utmost importance attributes found in each company,
is
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his
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loyalty. Meaning that higher-ranked positions could entrust tasks and responsibilities with complete certainty to the lower employees. Since family members tend to trust each other, it would be easier for them to delegate duties between themselves.
On the other hand
, the ultimate crucial factor in the survival of any manufacturer is its product quality. Since most family businesses have focused on recruiting on their own, they are likely to suffer from
this
area. Due to the fact that individuals are hired based on their relation rather than their working background, inevitably they would either disrupt the performance, or optimistically they would just lessen the performance compared to the same work done by their peers.
Consequently
, the company would become incompetent and
therefore
, it wouldn't be able to strive in the market. In conclusion,
although
hiring relatives in your business could have the advantage of instant loyalty, their lack of experience could be considered as its drawback.
Hence
, in my opinion, the benefits do not outweigh the demerits.
Submitted by armin.oveisi on

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