TASK 10.4 Write an essay on topic: Advantages and disadvantages of working for a medium-sized family-owned business, as compared to a large public company.
The closest relatives are increasingly managing the businesses in the world nowadays. The benefits of this trend are debated against their downsides. This
essay will outline family strength and monetary growth as the major edges over the drawbacks of compromised family time and lack of innovations. On the one hand, the first major favour from such endeavours, is increased cohesion between the members. They have more interaction and understanding of each other's nature and issues, so, they give extra care and comfort. The Ambani family of India is a prime example of the family support. The second impact is the money savings, which increase when the nearest ones are looking after the projects. There is a lesser requirement of the extra manpower, hence, the payment burden is reduced. For instance, my farm house is monitored my wife, thus avoiding expenditures on managerial tasks. On the other hand, despite major advantages given above, this causes a reduction in time spent at home with other members, because, at a time
someone must be busy with the work. Consequently, it becomes hard for the whole family to attend all the functions. For example, due to my commitments at the farm house, I could not attend my daughter's birthday last week. Furthermore, ideas get stuck up, in that, there is less input from outside. However, both these deleterious effects can be minimised by effective plans. In conclusion, the projects controlled by the relatives boost the relationships and the funds, while there are some hazards in the form of inertia and lesser time for the kids. In my opinion, the drawbacks have lesser gravity and can be managed by planning, so, the positive points outweigh the negative aspects.
TASK 10.5 Make a presentation: 'Corporate governance'
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