Some people think that the best way to run a business is within the family. What are the advantages and disadvantages of a family run business?
While the strategies for operating a business vary from person to person, running it internal to the family is one of those and has been in existence since long time. This essay will discuss the pros and cons of limiting the administration of a firm to the family.
The prime advantage of family business is that kinsmen will be inclined to invest more in the business compared to other stakeholders. Furthermore, they will even be ready for pay-cut in critical times for the welfare of the business, but this cannot be expected from outsiders. However, on the downside, in extreme cases, this will result in nepotism. Consequently, people, who are not eligible for the position, will be given prominence, jeopardizing the growth of the company.
In spite of that, irrespective of the designation, relatives will be willing to carry out diverse roles in the company. For instance, they will be interested in sharing their ideas and experiences across departments because; they have an emotional attachment to the organization. Nevertheless, this practice may result in an unstructured hierarchy in the firm and as a backlash, there may not be a proper decision making, resulting in chaos.
On the other hand, most family members have informal training from childhood and they know the in and out of the business. Moreover, they will be groomed for taking over the business by getting schooled in various divisions and ranks and so they become perfectly qualified to undertake the company. On the downside, sometimes, people may emphasize family conflicts and hence, may find it hard to draw a line between professional and personal life. Consequently, then concern’s development may be compromised.
In a nutshell, as any plan of action, even family owned businesses have their own edges and pitfalls. Hence, it is crucial to be vigilant about the negative aspects and to reap the benefits of the leverages.
Transition Words or Phrases used:
but, consequently, furthermore, hence, however, if, may, moreover, nevertheless, so, then, while, for instance, in spite of, on the other hand
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 15.0 13.1623246493 114% => OK
Auxiliary verbs: 14.0 7.85571142285 178% => OK
Conjunction : 13.0 10.4138276553 125% => OK
Relative clauses : 3.0 7.30460921844 41% => OK
Pronoun: 18.0 24.0651302605 75% => OK
Preposition: 48.0 41.998997996 114% => OK
Nominalization: 9.0 8.3376753507 108% => OK
Performance on vocabulary words:
No of characters: 1614.0 1615.20841683 100% => OK
No of words: 313.0 315.596192385 99% => OK
Chars per words: 5.15654952077 5.12529762239 101% => OK
Fourth root words length: 4.20616286096 4.20363070211 100% => OK
Word Length SD: 2.99089657797 2.80592935109 107% => OK
Unique words: 175.0 176.041082164 99% => OK
Unique words percentage: 0.55910543131 0.561755894193 100% => OK
syllable_count: 513.0 506.74238477 101% => OK
avg_syllables_per_word: 1.6 1.60771543086 100% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 8.0 5.43587174349 147% => OK
Interrogative: 1.0 0.384769539078 260% => OK
Article: 1.0 2.52805611222 40% => OK
Subordination: 2.0 2.10420841683 95% => OK
Conjunction: 1.0 0.809619238477 124% => OK
Preposition: 6.0 4.76152304609 126% => OK
Performance on sentences:
How many sentences: 15.0 16.0721442886 93% => OK
Sentence length: 20.0 20.2975951904 99% => OK
Sentence length SD: 32.3036977588 49.4020404114 65% => OK
Chars per sentence: 107.6 106.682146367 101% => OK
Words per sentence: 20.8666666667 20.7667163134 100% => OK
Discourse Markers: 9.46666666667 7.06120827912 134% => OK
Paragraphs: 5.0 4.38176352705 114% => OK
Language errors: 0.0 5.01903807615 0% => OK
Sentences with positive sentiment : 6.0 8.67935871743 69% => OK
Sentences with negative sentiment : 5.0 3.9879759519 125% => OK
Sentences with neutral sentiment: 4.0 3.4128256513 117% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.120794390924 0.244688304435 49% => OK
Sentence topic coherence: 0.0425426796559 0.084324248473 50% => OK
Sentence topic coherence SD: 0.0620767461848 0.0667982634062 93% => OK
Paragraph topic coherence: 0.0764607925439 0.151304729494 51% => OK
Paragraph topic coherence SD: 0.0476234020022 0.056905535591 84% => OK
Essay readability:
automated_readability_index: 13.3 13.0946893788 102% => OK
flesch_reading_ease: 51.18 50.2224549098 102% => OK
smog_index: 8.8 7.44779559118 118% => OK
flesch_kincaid_grade: 11.1 11.3001002004 98% => OK
coleman_liau_index: 12.65 12.4159519038 102% => OK
dale_chall_readability_score: 9.32 8.58950901804 109% => OK
difficult_words: 93.0 78.4519038076 119% => OK
linsear_write_formula: 10.5 9.78957915832 107% => OK
gunning_fog: 10.0 10.1190380762 99% => OK
text_standard: 10.0 10.7795591182 93% => OK
What are above readability scores?
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Rates: 73.0337078652 out of 100
Scores by essay e-grader: 6.5 Out of 9
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.