What is a Family
Business?
A family business is basically any business
in which the majority of the ownership or control lies within a
family. Involvement of members of family in a business can bring
with it its own complexities because the line between the business
system is sometimes separated by a thin line from the family
system. Sometimes these 2 positions overlap causing all sorts of
conflicts.
Families involve emotion with includes relationships that carry
with it loyalties and natural love whereas a business system is
unemotional and coldly designed to extract the highest profit from
that venture.
Styles that are necessary in a family situation may not always
suit the business situation. Membership of a family is by birth
whereas membership of a business should be by investment and
performance. Families deal with family matters in a certain way
that entails the head of the family making decisions either alone
or in consultation with another senior member of the family. The
business however, has its own systems and methods of communication
as well as styles involving the resolutio
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