A family business is certainly the hot-button issue of the moment, with many family businesses thriving and flourishing from generation to generation, while some are disastrous for the family as well as for the public. In the given essay, I will discuss whether having a family business is beneficial or not, and provide my opinion.
To begin with, there are a number of things that are important for a business other than the ongoing family business: business capital, location, business infrastructure, circumstances, and of course shrewd business owner who can adapt to changing circumstances. A business all the aforementioned things to be lucrative, and flourish. Besides, it is not necessary that the son of a successful business is also canny, even if he took good education, quality business degrees this does not make him a good businessman. In fact, there are numerous examples of family businesses that are completely ruined due to facile decisions taken by uncanny business owners. Moreover, “who will be the next CEO? ” has always been a common issue for many family businesses. Consequently, this may lead to huge arguments, and even fighting between the family itself.
Furthermore, there is a number of businesses that are thriving for decades, and in fact, handled by the family itself. To illustrate, TATA, one of the greatest companies in India has been thriving and contributing to the country’s economy since its inception. And at the moment the business has been handled by the grandson of the founder, Mr. Ratan Tata. Shrewdness and resilience of the businessmen have diversified the business throughout the world and led it to the rank one business in India. Besides, Mr. Ratan Tata is the most venerated businessman in India, and he has been an inspiration to many entrepreneurs across the world.
To conclude, after analyzing the above discussion, it is evident that some family businesses are still prolific, and lucrative even though it is handled by the successor of the founder. Although, numerous family businesses have led to fighting and breaking relations due to business issues in the family. My humble opinion would be, family comes utmost, if starting a company might lead to breaking own relationships, then it is always better to not have a family business.
A
family
business
is
certainly
the hot-button issue of the moment, with
many
family
businesses
thriving and flourishing from generation to generation, while
some
are disastrous for the
family
as well
as for the public. In the
given
essay, I will discuss whether having a
family
business
is beneficial or not, and provide my opinion.
To
begin
with, there are a number of things that are
important
for a
business
other than the ongoing
family
business
:
business
capital, location,
business
infrastructure, circumstances, and
of course
shrewd
business
owner who can adapt to changing circumstances. A
business
all the aforementioned things to be lucrative, and flourish.
Besides
, it is not necessary that the son of a successful
business
is
also
canny, even if he took
good
education, quality
business
degrees this does not
make
him a
good
businessman. In fact, there are numerous examples of
family
businesses
that are completely ruined due to facile decisions taken by uncanny
business
owners.
Moreover
, “who will be the
next
CEO? ” has always been a common issue for
many
family
businesses
.
Consequently
, this may lead to huge arguments, and even fighting between the
family
itself.
Furthermore
, there is a number of
businesses
that are thriving for decades, and in fact, handled by the
family
itself. To illustrate, TATA, one of the greatest
companies
in India has been thriving and contributing to the country’s economy since its inception. And at
the moment the
business
has
been handled
by the grandson of the founder, Mr.
Ratan
Tata. Shrewdness and resilience of the businessmen have diversified the
business
throughout the world and led it to the rank one
business
in India.
Besides
, Mr.
Ratan
Tata is the most venerated businessman in India, and he has been an inspiration to
many
entrepreneurs across the world.
To conclude
, after analyzing the above discussion, it is evident that
some
family
businesses
are
still
prolific, and lucrative
even though
it
is handled
by the successor of the founder. Although, numerous
family
businesses
have led to fighting and breaking relations due to
business
issues in the
family
. My humble opinion would be,
family
comes
utmost, if starting a
company
might lead to breaking
own
relationships, then it is always better to not have a
family
business
.