Advantages And Disadvantages Of Family Business

Basically, Bob did well in establishing advisory board, including CEO, COO, and financial expertise and Marketing expertise, who have the family-owned background or service industry background. Also, there was one female member who would be able to help the company better understand the female customers or help the female family member to involve in the family business. With the development of company, Bob added new members to the board according to the business needs. This is another good point.

Family plays a crucial role in an individual's life. They affect your decisions and the way you live. Your family can either bring you down or lift you up and push you to do your hardest.

Everyone's experiences with it are different, some are favourable, and some are fallacious. Everyone has it, but no one’s family is synonymous. Family is strong and sacrosanct, but strange. The understanding of family varies between people and their personal experiences. In the play Only Drunks and Children Tell The Truth(ODACTTT) by Drew Hayden Taylor, one sees family defined in several legitimate but different ways.

Family is a very vital social group for any individual as well as society. It is the focal point around which life of every individual revolves. The day usually starts with family and also ends with family but in between we used to discharge our professional, social commitment. The desire to be with the family reflects the strong emotional bond individual share with family. Family is the basic unit of society and in its most simplest form it may consist of a husband, wife and children .In a broader sense it may refers to all relatives of several generations may be connected to each other by blood, marriage or adoption .The married couple not only lives under one roof but also stay connected physically, mentally, emotionally, socially moreover financially. They are supposed to complement each other by meeting need and aspirations of each other. A family basically based on the institution of marriage. So it is very much significant on the part of both husband and wife primarily about the need to have a healthy functional behavior for a life time to meet the commitment they are extending to each other.

In a family, the father was the authority and made the majority of decisions such as the marriage of his daughters, the education for his children and the career path of his sons.

The family is the first institution of the five basic social institutions. It is responsible for developing the behavior of each person to be interactive individuals in society. It is responsible for supplying the basic needs of each person during their development. Unfortunately, the image of family has been deteriorated considerably. Instead of being a system support for people, it has become a double edged sword. Society is at fault for how bad the concept of family is today. It is just takes watching the news on television or to reading the newspaper to realize this. We can see headlines like "Father abused his daughter", “Woman is victim of domestic violence", "Child suicide due to

Contextually, the family provides socialisation for children, so they can eventually be prepared for the trials and tribulations of the ‘outside world’. And because children have a lack of power within the family unit, it prepares them to be obedient when consulting with bosses, or those of a higher position, as adults. The family also provide a secure emotional base, so that workers can refresh then rejoin co-workers to make profits for their

First, according to Macionis (2004) the term family is defined as a social institution found in all societies that unite people in cooperative groups to oversee the bearing and raising of children. Same author also discusses several theoretical approaches have been identified that identifies the family as a form of social institution and how the family unit interconnect with other social institutions within any given society. According to the Structural-Functional Analysis for example, the family serves as a unit that perform many vital tasks

The immediate issue is to make a decision on the future of the family company.

A family consists of a couple key parts. First, the family plays an enormous role in one’s life by influencing the children. Due to the children

In the article, Market Basket Shows the Best and Worst of Family Business by writer of the Harvard Business Review, John A.

The organisation is family owned, with three family members acting as a Management Board and responsible for approving all business decisions.

There are many forms of families around the world. The structure of these families are influenced by the culture around them. Family is defined as "two or more people related by blood, marriage or adoption. The family may take many forms, ranging from a single parent with one or more children, to a married couple or polygamist spouses with or without offspring, to several generations of parents and their children” (226). There are many functions of the family unit around the world.

Society is composed of many elements based on values, traditions, cultures, government’s policies etc.; and family is one of the main basic ingredients, forming the society. Therefore, as the society changes its element, family is also forced to change the flow of life. Yet, during the past 50 years, our society has undergone big social transformations which are seen as “dramatic and unparallel changes” or a “veritable revolution”. Thus, the two basic forms of family, the extended family and the

A family can be defined in many ways, but the common denominator in all is the love and fulfillment one gets by being surrounded by family members. Families can sometimes be at odds with each other, but the strain of this type of relationship usually creates an upsetting feeling to the people involved. People want others to rely on, talk to, do things with, share, love, embrace, and be part of. No matter what the family dynamic is the qualities the word family has will remain the same, as time goes by, and life evolves once again for every person living their