Family business are quite popular in many countries. While some believe that they have a higher chance of being successful in their business by sharing it with their kinsmen, however, some other argue that this method will lead to some obstacles for upcoming generation. In my perspective joint venture has more merits than demerits which will be ascribed in subsequent paragraphs.
To embark on, the integrity and profound loyalty are the most prominent benefits of sharing a business with relatives. The family members will always stand with their business partner in any stage of life, whether ups or down come in the business. They will ever attempt to find the ways how to elaborate their business. In addition to this, kinsmen never blame their parents for any kind of loss or profit as they both may responsible for it. To corroborate, a well known brand, 'Nike' is ran by two kinsmen and they are successful in their business with joint efforts. Therefore, sharing business with kinsmen is more beneficial than sharing with third person.
Despite having this, there are some drawbacks of having joint venture. First of all, family business might generate some obstacles the partners like profit sharing, position and many other. Personages will fight for their leadership in business and sometimes they will be divided into two businessmen. For instance, a joint venture between the Hero group and Honda motor company was established in 1984. Unfortunately, due to some descrimination, both partners separate their business in 2010. Hence, family business can produce misunderstanding as well as descrimination among the partners.
To sum up, although there are some disagreement and disadvantages of joint venture, it is more durable as well as beneficial for the family members and upcoming generation.
Family
business
are quite popular in
many
countries. While
some
believe that they have a higher chance of being successful in their
business
by
sharing
it with their kinsmen,
however
,
some
other
argue that this method will lead to
some
obstacles for upcoming generation. In my perspective
joint
venture
has more merits than demerits which will
be ascribed
in subsequent paragraphs.
To embark on, the integrity and profound loyalty are the most prominent benefits of
sharing
a
business
with relatives. The
family
members will always stand with their
business
partner in any stage of life, whether ups or down
come
in the
business
. They will ever attempt to find the ways how to elaborate their
business
.
In addition
to this, kinsmen never blame their parents for any kind of loss or profit as they both may responsible for it. To corroborate, a well known brand, 'Nike' is
ran
by two
kinsmen and
they are successful in their
business
with
joint
efforts.
Therefore
,
sharing
business
with kinsmen is more beneficial than
sharing
with third person.
Despite having this, there are
some
drawbacks of having
joint
venture
.
First of all
,
family
business
might generate
some
obstacles the partners like profit
sharing
, position and
many
other
. Personages will fight for their leadership in
business and
sometimes
they will
be divided
into two businessmen.
For instance
, a
joint
venture
between the Hero group and Honda motor
company
was established
in 1984. Unfortunately, due to
some
descrimination
, both partners separate their
business
in 2010.
Hence
,
family
business
can produce misunderstanding
as well
as
descrimination
among the partners.
To sum up, although there are
some
disagreement and disadvantages of
joint
venture
, it is more durable
as well
as beneficial for the
family
members and upcoming generation.