Question

Explain how family owned businesses can be a positive but at the same time a negative.

Answer 1

Family owned businesses can be a positive but at the same time a negative because of people in relationships that have a positive relationship paradigm invest; time, money and energy which is very good for the growth of a business. Thus the differences can be managed successfully. The interaction will be enjoyable and comfortable. Communications will be open and productive. Good ability to negotiate and compromise. A balance will be established between the respect of the; individuals along with the awareness of the groups’ strengths. However, it can be negative because, when members of the family own a business venture, family life is disturbed as even at home people are busy discussing issues at work. The ties of relationship may be spoiled due to issues at work.