Essays on Family Business

Since the dawn of our human civilization, people have been trying to find the most effective way of building their behavior. Historically, the patterns of people’s activity have been directly connected to the society itself. Therefore, the social and political utility of the human operations is one of the determining factors. As a result, the behavior of the community, formed by the patterns of personalities, has become an extremely complex system of reasons and consequence. Hannah Arendt addresses the topic of the human being’s behavior in the context of the political history. The Human Condition is her ...

Admission Essay

Integrity is defined as having strong moral principles and a need to be honest and forthright with others. It is the quality of an individual or group that demands a great deal of discipline and can make or break a reputation when it comes to any aspect of life. In effect, integrity is the reason why people wish to interact with those around them. When an individual, or a group, is seen as dependable and honest, then they are more likely to attract positive attention and will be able to create a network based on trust that is fueled ...

Sun Devil Story

Hailing from a Kuwait, I am the youngest child of a large family with five siblings. Being in a family which has been doing business for quite some time now, I have always wanted to pursue Business Administration to be suitably qualified to get into our family business. My desire to pursue my Business study is because of my observation of my family business, which has taught me that doing the same business for a long period of time leads to following certain repeated techniques thereby resulting in stagnation. I am sure that doing my business course would help ...

Many family owned businesses are bound to lose creativity and innovation with every subsequent generation. According to the article, upholding the competence and creativity required to keep a family business alive takes a lot of will and commitment (Jaskiewicz and Combs). In many cases, family businesses that survive competition and manage to keep the fire burning in many subsequent generations are usually endowed with ownership and management that is characteristically hungry for success. The authors go ahead to say that management carries out its responsibility with passion and usually obsesses over the quality of products produced (Rothwell, 83). This ...

SWOT analysis

Internal strengths Low start-up costs due to the presence of equipment and the opportunity to utilize family labour Continuing family tradition is a positive trait for differentiation and building up the company’s image in the eyes of customers

The application of fruity fragnances, capable of attracting teenagers

Safe and natural ingredients as a key differentiation trait Internal weaknesses Limited ability to introduce full product lines due to the size of the business and the lack of experience Limited awareness about the modern scientific developments in the field of skin care and an inability to apply them External opportunities Focus on growth (e.g., licensing operations to another firm ...

Abstract

The purpose of this assignment is to build a basic understanding of family businesses. Family businesses are those which are owned and operated by family members which are related to each other by blood or marriage. In family businesses, most of the employees come from within the family and the decision making power lies at the hand of the elders and influential of the family. Family owned businesses still follow traditional approaches to profit making however; non family businesses are more open to new and innovative business ideas. SWOT analysis has been presented on general family businesses. The SWOT ...

Executive summary

The main objective and purpose of this consultancy report were to evaluate and analyze the activities carried out in the Mike Davis business and family and come up with a well-defined management framework regarding planning, organizing, leading and controlling. Moreover, the report also helps the businesspersons to have skills that will enable them to integrate the four principles of management to improve the state of the business at large. The report as well has the mandate of solving the problems that the business is undergoing in both days to day activities as well as over a long term. The ...

It's a Wonderful Life

The main theme of the story is the interconnectedness of people. George Bailey, the main character of the movie, though poor, makes a lasting impression to the people of Bedford Falls 2. What was the primary “leaders” name? George Bailey 3. Is there a dominant Leadership Theory in the movie? Dominant leadership is much present in the movie. For instance, George Bailey, as the main leader, delegates the responsibility of the family business to his uncle, who later lands him into trouble of misplacing $8000 (Willian 9). 4. What were the strengths of the primary “leader”? The main ...

External environment (PESTEL analysis)

The political situation in Canada is stable, and not concerned with any significant risks for business. Open markets and regulatory efficiencies are major notable successes of Canada (Index of Economic Freedom, 2016). The development of ‘consumer culture’ is an important socio-cultural advantage for running any kind of business in Canada. Given the low density of population in New Brunswick, the company can use technologies to trade Canada- and region-wide. Environmental regulations do not exert significant impact on a company’s activities. Possible changes in legislation (e.g., company laws, taxation) may lead to the adaptation-related needs and require additional investments.

Internal environment (shared values, systems, structure, staff, skills, style)

...

Introduction

Dhamani Jewels, a Dubai-based wholesaler of gemstones and retailer of fine jewelry, wants to globalize its luxury jewelry brand Dhamani 1969. Dhamani 1969 is aimed to compete with established fine jewelry lines like Graff, Cartier, DeBeers and Bulgari. Established in 2014, the brand is envisioned as the flagship for the company which has been in operation since 1969. However, the brand is entering a highly competitive luxury jewelry market. Also luxury jewelry brands sell as much on their craftsmanship as on their emotional connection to the buyer. Brand value is paramount and the challenge for the Dhamani 1969 brand ...

American gangster movies have been in vogue for a very long time and have been a favorite of the American audience. The issues which surround law and order in the country have been captured well by gangster movies which depict criminals and vivid crime scenes. Although the movie is basically about letting the bad guys lose and the good guys emerge triumphant at the end, the movies usually swerve with the bad guys in the movie going about their crimes successfully without getting caught. Although the public has a clear recognition between the good and the bad, it is ...

Introduction

A family business is a profit-making entity that entails the significant roles of decision making, ownership, and leadership of the business being undertaken by several generations of a family. For a firm to be considered as a family business, the multigenerational element, and the unique family is fundamental (Carlock, Kets de Vries, and Florent-Treacy 12). Family businesses vary from size to industry; there are corner shops with a history of family ownership and leadership and similarly publicly listed multinationals, which share a similar foundation (Carlock, Kets de Vries, and Forest-Treacy 17). Internationally, there are numerous examples of family-owned businesses; ...

Volkswagen vs Ford

Introduction Volkswagen and Ford are both family businesses working in the global automotive industry. In 2015 worldwide 73.9 million of passenger cars were sold in the global automobile markets along with the 86.56 cars produced. The biggest automotive markets can be found in China and in the United States. The biggest automotive suppliers in the industry are from Asia and Europe and include Bosch with steering systems, Continental in the area of tire manufacturing, Denso and Magna. The size of automotive supplier market worldwide is estimated at €620bn (The Statistics Portal, 2016). Those suppliers are currently faced with the ...

The Health of the Family Business

Introduction JCDecaux Group is a multinational company based in Neuilly-sur-Seine, Paris in France. The company was established in 1964 by Jean-Francois Decaux to offer bus stop advertising systems, billboards, public bicycle rental services, and street furniture (Jcdecaux.com, 2016). Currently, the company is the best outdoor advertising company in the world with annual revenues of more than 2.8 billion Euros. Its commitment is to deliver quality outdoor advertising services to its clients as well as providing first class public services to its customers around the world. The JCDecaux Group core values are innovation, quality, design, sustainable development and trustworthiness in ...

Executive Summary

Family businesses have been making vital contributions to the British economy and the forecast indicates even more in the coming years. A typical family business in UK, Associated British Foods plc, has been performing consistently well for over 100 years. The company has built up portfolios in Sugar, Agriculture, Retail, Grocery and Ingredients segments and owns many of the most famous food brands. Starting with bakery products, the company has diversified into the other segments mostly by prudent acquisitions. The models generally used for analysing family businesses, namely the three circle model, the 12S model and the business canvas ...

I hail from a business family. Having experienced a successful father running an oil service company since I was six years old, I have developed early insights into decision-making processes. Over years, oil industry – and, for that matter, oil business management – has grown by leaps and bounds. By requiring ISO 9001 and 14001 certifications by regulatory bodies in order to maintain quality management standards, our company's management has recognized how systematic adoption of business processes and practices should help streamline business operations and make certification only a matter of formality. The company is current at crossroads as a new ...

Assignment

The United Nations (UN) is an organization that prides itself on the discussion of important topics related to world peace, security, development and others but accomplishes, essentially, nothing. The history of the United Nations as well as the actions of its Secretaries proves its ineffectiveness, and demonstrates that the organization occasionally engages in biased decision-making. This, in return, has made the general public lose their trust in the US. In consideration, I would demand the United Nations Secretary General, currently Ban Ki-moon, to guide the UN in the regaining of peoples’ trust, which I am aware requires time, significant ...

Introduction

Carvajal, S.A is a family-owned holding company that provides printing-related and other products and services to both the Latin America and outside markets. The company had seven other subsidiary companies.It had grown into a leading company in sectors that included yellow pages, notebooks and textbooks, and office furniture. It also funded the family’s efforts of helping the needy in the community. Alberto Carvajal and Mary Alice Crump were worried about the financial returns and the growth of the company. Alberto, 49 years old, was chairman of Carvajal’s board. Mary, 56, was a member of the holding company ...

Introduction

Carvajal S.A is a family business which was founded on the 29th October 1904 and is located in Cali, in Columbia. The business was founded by a man by the name Emmanuel together with two of his eldest sons. The business began as a printing and publishing business. It has since expanded into the sale of notebooks, yellow pages and office furniture even outside the country. With the emergence of new consumer trends such as the internet, the business is faced with a lot of competition such as the availability of the services provided by the business over the ...

Background

LEGO Group is a Danish, family business. Typical of family enterprises, growth is substantial in early company lifecycle phases, only to plummet – rapidly – few years later. The specific causes for LEGO Group's rapid decline in sales (and hence market share) fall into five strategic areas: (1) macroeconomic variables, (2) brand identity, (3) supply chain management, (4) retailing strategy, and (5) product design & development. As shown in every growth indicator, most notably company's cash flows over 1995 – 2004, LEGO Group has witnessed not only sharp decline in sales growth but also, sadly enough for company's owners and executives, a risk ...

Summary

The story revolves around the members of Monroe’s family i.e. Mac Four, Mike Monroe, Bea, Little Bit and P. Dee Chambers. Dee is a family business consultant with a great experience. Once she helped Mac by reporting about a president. It was a Sunday night. Mac called Dee to ask for some help regarding Carolina Construction Supply which was running short for wages. He wanted Dee to help him. They decided to meet (Miller). Mac started by telling about the Georgia Building Supplies. It was started by Mac and his business partner Morrie. Mac was the salesman, and ...

1. List 5 examples of formal organizations in our society. Provide 3 examples of informal groups?

Examples of informal groups are family, study group, neighborhood (neighbors), church community.

2. Which tasks are best accomplished through formal organizations and which are best achieved through informal groups?

Through formal organizations best accomplished tasks are explicit goal setting and designing and these goals achivement.

Through informal groups best accomplished tasks are enjoying each other’s company (members of the group) and sharing life experience. 3. Are there clear differences between formal organizations and informal collectivities in the level of emotional comfort and fulfillment members experience? Yes, there are clear differences between formal organizations and informal collectivities in the level of emotional comfort and fulfillment members experience. Individuals have particular titles ...

1. Which company is the focus of this article? a. Specific US company: the article focuses on the Abt Electronics Company, founded by Jewel Abt and her husband, David b. In which particular country/region of the world is this company’s business the topic of the article? The United States of America, with its headquarters based in Chicago, Illinois c. Provide some basic BACKGROUND INFORMATION about the company and its focus based on your research. (2 paragraph summary): Abt Electronics started a small business in the local area of Logan Square, in Chicago. The company began in the ...

Advantages of Family Businesses

The first advantage of a family business is commitment. When the needs of the family are at stake, then a family member is going to have a better sense of commitment to the business. This type of commitment is not possible in the businesses that are not run by families. The second advantage is flexibility. This means that family members are going to be more willing to do things that other people might not be so willing to do. Therefore, they are going to help the best way that they can to make the business successful. The third advantage ...

Family business is often the most successful in many aspects of growth and development. In fact, it is no secret that most of the global economy are controlled by family businesses. However, just like in any firm or organization there are challenges faced by this business which is often unique to the firms because they are family. The main problem in such business firms is the role of family members in succession for various positions. Without a clear succession policy, most of the firms end up experiencing hefty losses due to time lost in mismanagement or as a result ...

Psychology

Introduction There are several pizzerias in the United States that claims to serve the best and the most authentic Neapolitan pizzas in the country. Amidst the competition for the title of the best pizza in the country, or in this case, in town Tutta Bella sets itself apart from the rest of the competition for being true to the roots of the Neapolitan pizza according to its owner Joe Fugere. Before opening his first Pizzeria in his hometown in Naples Italy, Joe received certification as a Pizzalolo and remained in Naples to refine his skills and continue with the ...

Exploration Of The Attitudes Of The Pharmacists Towards The Implementation Of A Systematic Inventory Management Method At The TRHA (Hospital Storeroom ) Inventory management is a key aspect of the pharmaceutical supply system. The system in many cases ought to be simplistic. To ensure the viability of the pharmaceutical supply system lies in a healthy and efficient inventory management system. Although inventory management may sound easy, it requires to be done using accurate stock records and performance monitoring so as to reduce the cases of wastage and shortages and also ensure efficient patient care (Harding & Taylor, 2002). Upon the allocation ...

Summary

The Facebook postings of a Northeast BMW salesperson causes corporate embarrassment and hurts company's brand image (Lopiano and Watson). Having a long established history as a major, luxury dealership, Northeast BMW has a positive employer-staff relationship based on loyalty and proper compensation. Moreover, Northeast BMW maintains her customer base based on repeat business and long-standing company-customer relations. This corporate culture has continued after a leadership change. The new company's leader, a son-in-law of company's last leader (himself a son of dealership's founder), emphasizes company's commitment and management as a "family business". The negative postings by a company's salesperson (on ...

Family firms are the most universal type of business on the planet. In the United States, 33% of the organizations in the S&P 500 are owned and controlled by the establishing family, and family firms represent 80-90% of the organizations in the private sector. There can be most likely families that assume a critical part in the landscape of advanced business. On the other hand, since numerous individuals have suppositions about how families work, they frequently have presumptions about how family organizations fill in also (Adams, Taschian, & Shore, 1996).One focal presumption rotates around the idea of development - ...

Introduction

The Foucauldian theory of Discourse has been an influential tool used by many organizations in shaping and enhancing the understanding on power. The theory has assisted many organizations to deviate from assessments of power from different actors who perceive the same as a coercion instrument. The Foucauldian theory of discourse additionally drives people away from the discreet operational structures of the actors and tries to make them understand that power is equally distributed, embodied and diffused in discourse, regimes of truth and knowledge. According to Michel Foucault, power operates on other levels and makes up who we are. Foucault's ...

Abstract

The paper delves deep into the cinematic elements used by the filmmaker in making the film, The Godfather (1972). The specific cinematic elements that have been used adeptly in the course of the aesthetic work have been explored. The ways in which these elements come together to affect the audience is also explicated in the course of the paper. Thus, a formal analysis of the film in context enables one to comprehend the appeal of the film on the minds of the audience, and how the film has been weaved with all the individual aesthetic elements being ...

Being a committed and gifted international student, I am applying to the USC Marshall School of Business. My devotion to exact sciences, such as math and physics, including but not limited to other fields, are of my genuine interest. I am the progeny of an entrepreneurial family, with well-developed family business roots in my country of origin. This family business forms a precious legacy, which my founding great grandfather envisaged to continue for the next generations. Started as a merchant firm, it expanded into a mid-sized company with its subsidiaries abroad. As a young boy, I observed the peculiarities of conducting a ...

Abstract

Chinese entrepreneurship is known to be influenced by historically traditional and cultural characteristics. The concept of Chinese businesses that the family patriarch critically manages them continues to hold true, although in the modern world as opposed to two decades ago, it has slowly changed. However, much of the management is held by a male member of the family, whether they operate a business upon their property or if they lease or rent the property. The tradition of a Chinese family-run business retains its discernible mark in worldwide business.

As motivated as they may be maintaining past practices for the sake of ...

Business is an essential part of the world in which we live. Whatever the specific commercial activity, every one of us is affected by it, and is in some way involved on a daily basis, either directly or indirectly. Business management is the particular aspect of business which inspires and excites me. Although my interests cover a broad spectrum, both within business and outside of it, it is the management aspects that especially appeal to me, offering an environment with multiple demands and challenges.

My principal motivation in applying for this course in Business Management is ...

The continuous change in our domestic business environment and threat of global competition are forcing me to seek for ways and means to improve myself in order to expand our family business. I am an entrepreneur from Thailand. My family business is into manufacturing of plastic sandals and we have been successful so far, selling our products in the domestic market. Some of the companies we deal with export our products to neighboring countries, such as Laos and Vietnam. With the imminent establishment of ASEAN Economic community (AEC) in 2015, I realized that while global competition in inevitable, there ...

Question 1 

In what industry, role and where (companies, locations) do you see yourself working immediately after graduation from London Business School? What motivates you to join this industry and how will your academic, professional, and personal experiences help you achieve this career goal? What is your alternate career plan? How will the Masters in Management contribute to your personal and professional development and why is this the right time for you to pursue this degree?

After graduation I plan to work in my own existing enterprise in the fashion industry, as a young entrepreneur. In April 2013 I set up my ...

Business management is a very important skill which should always be taken seriously. Many businesses have failed because of poor management. However, many investments have succeeded as a result of the management approaches put in place in steering them. While it is a good idea for a family to invest, it has become challenging for many people to properly manage their businesses. In most cases, rivalries arise especially when the family members fail to agree on how to manage their businesses. At times, each individual, despite being a stakeholder, might only want to serve individual interest. This has posed a very great challenge to such ...

Introduction

There are several theories that seek to explain the abilities, behaviors and skills of individuals in different stages of their life. They include the psychosocial, biosocial and the cognitive theories of growth and development. They propose the expected behavior of an individual at the different stages of their life. Naturalistic observation is one of the ways that researchers employ to support the external validity of various research findings. The researchers embark on the study of a certain behavior as it occurs in its natural behavior. To ensure the validity of the results, the researchers should neither interrupt nor manipulate the ...

Choosing a proper and successful lifetime career path is not an easy task to accomplish. Curriculum Vitae is considered to be the first step while starting any career – only in case you can make a prominent CV self-presentation demonstrating appropriate skills and abilities, as well as experience, you have a chance to acquire a perfect career of your dream. Considering all this, I decided to take a Curriculum plus unit as a means to enhance and develop my resume as well as realize my personal and professional skills, work on them and improve them in the process of studying.

I consider myself to be a ...

Inheritance of family business is very important in all over the word. In Japan, they take it very seriously to keep business leadership in the family. This is where adult adoption comes in. If a business owner does not have a son to inherit or if the son is not interested in the family business, there are two options. One option is to adopt a fully-grown man who is competent in running the business and inherits the family name (Noma, 2009). The second option is to marry of their daughter to the most suitable candidate and therefore keep the business in the ...

Financial planning is the process and various steps that lead to the proper management of available income and better management of expenditure. Managing personal and family finances demands thorough estimation of the incoming revenue and outgoing expenses on a daily basis. Efficient management of family or personal finances demands budgeting of total monthly expenditure and income. This enables one to determine his/ her spending and saving. Many couples live long without taking a view of their finances. This is the beginning of future money problems that strain the marriage and possibly turn catastrophic if one spouse dies or is incapacitated.

According ...

Home Services

Abstract Home services are services intended to give the assistance that help the children, seniors and the disabled in the society to remain relevant in their restrictive society and the environment. The business is intended to make statements in the world concerning home services and how people live. Though most people are life conformist, and they tend to believe in what mass believe, relevant home service have proved otherwise. It is known that most senior people prefer the presence of people they work with and relate with. The finding is relevant with senior people too; that is why ...

Abstract

Family businesses are managed in a centralised system and process. Corporate governance on the other hand refers to an impersonal system of managing and directing firms through a series of rules that promotes transparency and systems. This paper examines the two concepts and synthesizes them in relation to how they relate to each other. The paper identifies that family businesses are not bad. Rather, they promote efficient and effective internal controls that lead to very good performance profiles. However, the study identifies that in cases where the firm expands and grows significantly locally and globalises, there is the need for ...

Business

corporate governance in family business

Introduction

Corporate governance is an indispensable factor for the advancement of family-owned businesses. According to Pedersen & Partners (2015), globalization and rapid growth of commercial transactions resulted to several obstacles for family businesses. In fact, family-owned businesses have to keep up with the requirements of corporate governance to strengthen their foundation. These family-owned businesses learned that practicing good governance enables will allow them to create healthy business processes in preparation for their expansion in the future (Pedersen & Partners, 2015). Recent studies conducted by Credit Suisse showed that modern day family businesses had been successful in ...

The Cummer Museum of Art & Gardens is the reward of the civic, social, and business activities of the Cummer family. The Cummers came from a long line of lumber dealers. They started in Canada before expanding their business to Michigan, Virginia, and Florida. Wellington Willson Cummer (1846-1909) went on to found the Cummer Lumber Company in 1896. After the death of Wellington, Arthur Cummer and Waldo Cummer, along with his son-in-law, John L. Roe, all of them had ranks in the family business inherited the company. Nina May Holden (1875-1958) a young lady from Michigan City, Indiana married Arthur ...

Literature and any work of art are defined as a mirror that reflects the society that we live in.There are many ideas and themes which are covered in literature work as they address the social issues. Many of the themes are developed based on how issues develop within the society; many authors relate their work to the basic issues that many readers can relate with and also covering a particular period. In the novel “Bone “Leon is struggling in his family business which he is being assisted by his three daughter and wife. His daughters are finding it challenging to fit ...

Introduction

Simply put, a family business is a corporate entity that has members of the same lineage managing its affairs. In this arrangement, members from outside the family outfit are not allowed to engage in any form of dealings formally or informally. Every family member has a role to play to the extent of each role is allocated. While it is not obvious that every member of the family may have a role to play, each must have a say with respect to how the business is run. This in essence means that consultations in this arrangement must be key in ensuring that a level of ...

I have chosen to write an essay on the film The Godfather. It is a film that was released in the year 1972 and is about the Corleone family and the mafia war and gangster dealings involving the Corleones and some other families. It is a film that continues to receive commendation long after it was released. I choose to write on it because it is very interesting. Aside from that, the film has a very engaging and captivating plot as well as a few life lessons that one can pick and use in real life situations. It is also very entertaining as ...

I am passionate about business. I’ve been passionate about business ever since I was a child watching my father run the family real estate business. I started working as soon as I was old enough. To be sure, I got my first job at the age of 14 working in door-to-door sales. Before I went on to college, I worked for a time in telesales, then on a kiwi farm and finally in customer service. The unifying theme to my early work was that they all focused on some aspect of doing business. My passion for business did not end ...

Personal Strategic Plan

Personal Strategic Plan The guiding principle and consequently my mission and vision of my life is to be the best I possibly can and being a source of inspiration to everyone that I meet. I also aim to create a positive impact on the people around me. In summary, I am determined to make sure that I attain full success in both my professional and personal life.

Personal and Professional Goals

In line with my mission and vision, I am majoring in Business administration with the goal of working for Saudi Aramco. I also intend to further and improve my education and acquire masters ...

[Writer Nаme] [Supervisor Nаme] [Dаte]

I define myself as energetic and willing to explore the new ventures. My career aspiration is to study Business and particularly at Babson, the field of Foundation of Management and Entrepreneurship (FME) totally mesmerize me and I want to pursue my career as a working professional and eventually lead my family cosmetic business known as SARANTIS. I have two months of working experience in SARANTIS as an assistant in warehouse of the company along with one month working experience as an assistant in the finance department in Estee Lauder Greece. ...

Introduction

The fact that decision making in a family owned organization is greatly influenced by family members who can be linked to the company either by ownership or leadership makes the affairs of the organization quite complex. Family businesses have had quite a negative perception- squabble over inheritance, small or midsized and unprofessionalism. Well, this is a reality in some organization but not in any way a general description of family run businesses. Relationship between the family and organization comes with both good and bad. The world cannot ignore nor fail to appreciate the contribution to the economy. 30% of all companies have multigenerational ...

Introduction

When many family businesses are founded, they are run by succeeding generation of the founding family. Family members occupy important position in the organizational hierarchy. Employees from outside the family are at times used in the organization. However, this is dependent on the unavailability or unwillingness of a family member to occupy the position. The organizational structure of family businesses may vary depending of the type of business entity and how its growth reflects on size. This survey was carried out of owners of four family businesses. The questionnaire used was designed to explore various aspects of family businesses. It ...

Having witnessed the deplorable condition my father’s business was, I volunteered to help in the strategic planning so as to reinstate the business back to where it was. The stunt growth of the firm depicted that something was going wrong in the operations and having been a business student, I believed I had the knowledge and was ready to apply them where needed. Some of the strategic planning entailed; conducting a research in other financial service firms to establish the findings and then come up with the conclusion of what needed to be done. Other plans could be reduction of ...

Business Research Ethics

Business Research Article Summary The research article on family business research describes the structure and trends of the literature on the family business. The researchers have analyzed the content of the various research papers focused on family research that were published in journal articles that were categorized as business, business finance, economics and management of social science citation index for 1961-2008 period . The bibliographic methods were used to describe the evolution of the publication activities, most prominent authors, research methodologies, and content of themes for research . The analysis provided an avenue for future research in the field of ...

(PROFESSOR NAME)

Introduction My first memories of my father’s office have been those of sitting in his leather swivel chair and holding the phone to my ear. As a toddler, I used to spend hours engrossed with the things in my father’s office – pen-stand, papers, paper weights, and the endless people that kept coming and going to meet him. He used to always be busy meeting people, planning something or talking on the phone. He used to dress in a shirt and tie always – the very image of the busy entrepreneur. As the son of a businessman, I ...

Article summary The article by Roberts Michael and John Davis emphasizes the importance of entrepreneurship in the management of family businesses. Roberts and John argues that for family businesses to grow and become successful, the families must embrace entrepreneurship. They support their argument by stating that it is entrepreneurs and not managers who identify opportunities, generate ideas and drive the implementation of new business lines. As a result, business grows, diversify and build assets. The article provides two main reasons why families should encourage entrepreneurship in the family business in order to stay in business. According to Roberts and John, ...

Question one.

We all live a life driven by customs and believes. What is clear from this case study is that, running a corporate business as a family is worth the embrace. A pragmatic view dawns on the existence of this firm for over four decades. The success and survival in the tough business scene is evidence of outstanding family solidarity and its importance in business endeavors. A major part of this business, is considerably headed by close relatives of the proprietor. Notably, purchasing and inventory control, and collections department are headed by the president’s oldest son and daughter-in-law respectively. These are key ...

Introduction

Family businesses are an important part of economic development and prosperity. Many people have established family enterprises in order to experience economic growth. However, the management of family businesses is not easy. Businesses owned by members who share family relations are very challenging to manage. Apart from the business issues that arise from time to time, there are family issues as well. Some of the most striking challenges in running family businesses include succession disputes, family conflicts, gender disputes in the management position, financial weaknesses, mismanagement, work relationship among others (Davis). It is important to keep i9n mind that ...

Introduction

The Chelmsford Hotel is the small family oriented hotel located in Melbourne. This hotel is developed by the two brothers Jeff and Chad Mitchell. This business has grown with the interest of the owners in work and efforts. The hotel consists of 163 guestrooms and offer valet parking services, housekeeping and manages maintenance and administrative tasks. The Garden terrace restaurant is also part of their service in which they offer to dine, room service, catering service and organization of events. In the hotel, there are around 130 to 140 employees while, for the restaurant around 35 more employees are ...