some people think that the best way to run a business is within the family. What are tge advantages and disadvantages of a family run business?
Successful
businesses
are run around the world following different models.Many rich families collectively own some of the most successful ventures around.Pros of having a business within the bloodline include better mutual understanding and trust among its partners while the greed of succession may be Use synonyms
one
of the cons.
On the Use synonyms
one
hand,family-owned trades offer a number of advantages.Use synonyms
One
of these includes better understanding and coordination among the Use synonyms
members
.Families usually have a better understanding of themselves as compared to strangers.For Use synonyms
this
reason,we usually observe many fallen partnerships between strangers but rarely within the bloodline.Linking Words
Similarly
,another factor that gives family-owned Linking Words
businesses
an upper hand is trust.Usually,it takes time to trust someone new while trusting a blood relative is easy and chances of betrayal are Use synonyms
also
quite low.Linking Words
Thus
,a trade that stays within the bloodline usually prospers better.
Linking Words
On the other hand
,some ventures owned by families Linking Words
also
face issues that may trouble them.The greed for succession and power is Linking Words
one
of the major issues faced by the trade shared by the tribe.Desire to lead usually gives birth to acrimony and rift between the family Use synonyms
members
making their relations acerbic.Use synonyms
For example
,some very successful Linking Words
businesses
were torn apart because of Use synonyms
this
greed among the Linking Words
members
.Use synonyms
Hence
,family ventures,Linking Words
however
successful they may be,may attract greed for leadership and power as well.
To conclude, Linking Words
businesses
shared by tribes may have their pros and cons,but ,Use synonyms
clearly
their pros easily outweigh the cons.For family-owned Add a comma
,clearly
businesses
to prosper,the Use synonyms
members
should let go of greed and give way to mutual respect and support.Use synonyms
Submitted by saphire8619 on
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