Some people believe that the best way to run a business is within the family while others consider this a potential source of problems.
Do the the advantages of a family business overweight disadvantages?
Businesses have been adopting various techniques in order to develop in the competitive market. It is thought by a few that businesses can be run much efficiently with the help of family members. Although the advantages of this method are varied, the drawbacks, in my opinion, should be paid more attention.
On the one hand, running a business by relative members is advantageous in some certain aspects. First, the biggest advantage of a family business is the fact that family members go along well with each other and have common values. They are likely to share the same ethos and beliefs on how things should be done so this will create an extra sense of purpose and a competitive edge for business. Second, The family owning and running a business is also much more committed. In fact, in a family owned business, people are working for themselves. Members are more likely to put in the extra hours and effort needed to make it a success. This itself is a great factor that contributes to the success of a business. Third, the simple organization structure and flexible work environment contribute towards increasing the efficiency consequently making the personnel more determined towards the achievement of common goals.
On the other hand, the disadvantages of a family business method are more significant. Initially, lacking of skills or experience is the first problem should be mentioned, some family insstitutions appoint family members into roles that they do not have the skills or training for. This can have a negative effect on the success of the business and lead to a stressful working environment. Furthermore, it’s important to consider that disputes within business can become personal conflicts and bad feelings and resentment could destabilize the operations and put their family relations at risk. Most importantly, many family business owners may find it difficult to decide who will be in charge of the business if they were to step down. The irresponsibility and disagreements between family members can lead to the disintegration of such entities.
In conclusion, running a business by family members have some benefits, but in the long-term, as the organization grows, the requirement to change management approach is undeniable.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2020-01-06 | bhanu Lingala | 56 | view |
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Grammar and spelling errors:
Line 3, column 387, Rule ID: WHITESPACE_RULE
Message: Possible typo: you repeated a whitespace
Suggestion:
...se of purpose and a competitive edge for business. Second, The family owning and ...
^^
Line 5, column 198, Rule ID: WHITESPACE_RULE
Message: Possible typo: you repeated a whitespace
Suggestion:
... be mentioned, some family insstitutions appoint family members into roles that t...
^^^
Transition Words or Phrases used:
also, but, consequently, first, furthermore, if, may, second, so, third, well, in conclusion, in fact, in my opinion, on the other hand
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 19.0 13.1623246493 144% => OK
Auxiliary verbs: 11.0 7.85571142285 140% => OK
Conjunction : 14.0 10.4138276553 134% => OK
Relative clauses : 6.0 7.30460921844 82% => OK
Pronoun: 19.0 24.0651302605 79% => OK
Preposition: 47.0 41.998997996 112% => OK
Nominalization: 11.0 8.3376753507 132% => OK
Performance on vocabulary words:
No of characters: 1913.0 1615.20841683 118% => OK
No of words: 366.0 315.596192385 116% => OK
Chars per words: 5.22677595628 5.12529762239 102% => OK
Fourth root words length: 4.37391431897 4.20363070211 104% => OK
Word Length SD: 3.0045465563 2.80592935109 107% => OK
Unique words: 196.0 176.041082164 111% => OK
Unique words percentage: 0.535519125683 0.561755894193 95% => OK
syllable_count: 611.1 506.74238477 121% => OK
avg_syllables_per_word: 1.7 1.60771543086 106% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 4.0 5.43587174349 74% => OK
Article: 7.0 2.52805611222 277% => Less articles wanted as sentence beginning.
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: 18.0 16.0721442886 112% => OK
Sentence length: 20.0 20.2975951904 99% => OK
Sentence length SD: 45.5241083871 49.4020404114 92% => OK
Chars per sentence: 106.277777778 106.682146367 100% => OK
Words per sentence: 20.3333333333 20.7667163134 98% => OK
Discourse Markers: 7.5 7.06120827912 106% => OK
Paragraphs: 4.0 4.38176352705 91% => OK
Language errors: 2.0 5.01903807615 40% => OK
Sentences with positive sentiment : 13.0 8.67935871743 150% => OK
Sentences with negative sentiment : 4.0 3.9879759519 100% => OK
Sentences with neutral sentiment: 1.0 3.4128256513 29% => More facts, knowledge or examples wanted.
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.34961404342 0.244688304435 143% => OK
Sentence topic coherence: 0.117389520937 0.084324248473 139% => OK
Sentence topic coherence SD: 0.0764992027733 0.0667982634062 115% => OK
Paragraph topic coherence: 0.214939136062 0.151304729494 142% => OK
Paragraph topic coherence SD: 0.0532113292142 0.056905535591 94% => OK
Essay readability:
automated_readability_index: 13.4 13.0946893788 102% => OK
flesch_reading_ease: 42.72 50.2224549098 85% => OK
smog_index: 8.8 7.44779559118 118% => OK
flesch_kincaid_grade: 12.3 11.3001002004 109% => OK
coleman_liau_index: 13.05 12.4159519038 105% => OK
dale_chall_readability_score: 8.73 8.58950901804 102% => OK
difficult_words: 95.0 78.4519038076 121% => OK
linsear_write_formula: 8.5 9.78957915832 87% => OK
gunning_fog: 10.0 10.1190380762 99% => OK
text_standard: 9.0 10.7795591182 83% => OK
What are above readability scores?
---------------------
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.