Family owned business vs. professionally run businesses
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Points to remember before you participate in this disuccsion:
- Assume, you one of the member of a real group discussion.
- Take the initiative to participate and contribute your thoughts.
- Express your positive attitude towards providing the solution.
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Ishika said:
(Sun, May 19, 2013 12:43:04 PM)
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| Hello friends. I agree with kapil that scenario in family business is different from professionally owned business. There is no guarantee how long professional be in the business. Although in family business members be more sensitive about goodwill and try to take more advantage of upcoming opporctunities for there business maximization. |
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Rate this: +0   -0
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Dharan said:
(Thu, Jan 10, 2013 09:35:47 PM)
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Professionalism:
1. Lag in commitment with workers than family business.
2. Chances for less co-ordination.
3. Chances for shut-downing without the approval of all people in the organisation.
4. Owner concentrates on profit rather than human.
5. Workers may feel uneasiness.
Family business:
1. Kartha of the family will lead all the members of the family.
2. Forcing of work will not be there.
3. As family members they have responsibility.
4. Easy to control and sometimes it may reverse.
5. Fully committed workers (members). |
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Rate this: +5 -0
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Anchal Gulecha said:
(Fri, Aug 24, 2012 09:21:20 PM)
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| Getting on a logical conclusion, issue is actually with lack of professionalism in family run business... professional managers should be appointed in family run businesses.. so as to increase the goodwill of the business as it perhaps gives a right path leading to success, such managers provide proper working techniques as he is professioanlly trained... and then aside all these matters,he is master in making the strategies for an effective business..!!! |
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Rate this: +3 -0
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Ashim said:
(Mon, Jun 18, 2012 11:59:40 AM)
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| Hey friends according to me family business is really risky nothing can be predicted and even more than that results in fight between family which further leads to negative thinking about each other and on the other hand professionally run business is some what better then the family business because it's better gaining profit individually without any fights and staying happy and let other be happy without any bad thoughts about each other's mind. |
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Rate this: +3 -2
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Mahesh Chaudhary said:
(Sat, Apr 7, 2012 02:46:35 PM)
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| Dear Friends I'm agree with your all opinion. and I affirmatively favour family owned business because of the fact that you are self employed not working under any other business-man. They will have to make strategy to develop their business and have to earn profit as well. More over if you have a quality of a entrepreneur than you can invest a capital amount and start a professional business. So if I say that every Entrepreneur in INDIA has not started their business initially after completing their study.Initially they need a family owned business to judge their quality and strategy so as to invest a huge amount as a capital in any professional business. |
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Rate this: +9 -1
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Shanthan said:
(Sun, Oct 30, 2011 09:47:18 PM)
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In current scenario, Family owned business does not has any importance coz its main objective is to earn Profit.They wont treat customers well.
Wherareas in Professionally runned b'ness they give importance to customers.. they produce goods as per customer needs..Here Customer Satisfaction is given more Imp..
So, In my Opinion Professionally runned b'ness is better than Family Owned B'ness |
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Rate this: +4 -12
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Neelamegam said:
(Tue, Sep 20, 2011 10:17:27 PM)
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| Hello friends I support to professionally run a business why I am saying this is family business in the sense there more conflict occur from our family members itself so they unable to concentrate the business they concentrate to solve the inner problems they examples birla groups, tata groups reliance groups etc. |
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Rate this: +1 -9
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Vishal B said:
(Sat, Apr 9, 2011 03:11:07 PM)
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Family run business:
More centralization in decision making
Product centered business
Ownership is there
Tightly runned
PROFESSIONALY RUNNED
Decentralization of decision making
Turnover centred business not product specific
Loosely held
Lacks ownership
I belive companies who are successful are family owned companies
professionally runned
1.Ownership is still there
2.Decentralisation of factor based decision making
3.Sector based business model
4.Wisely held |
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Rate this: +5 -3
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Abhi said:
(Wed, Mar 2, 2011 11:24:20 AM)
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| In my view i support professionally run business because one can have work satisfaction with his own business rather than looking over family related business.If we get into family owned business one should work under the guidelines of our family members and maintain the reputation of the business.But if you opt for professional run business you can implement your own ideas as the result may effect your business itself.Mean while you can have suggestions from elders and implementation of their ideas is your concern.So i opt for professionally run business. |
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Rate this: +1 -3
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Ajit said:
(Sun, Feb 13, 2011 12:09:08 PM)
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| I would rate professionaly run business over family run businesses. we can argue about the professionals that they will always look for thier growth but let me remind you guys falimly run business are at a very high risk of family's internal politics. Overtime the issues like who will control what and who will be next successor leads to a situation where whole organisation can become a battle field. A classic case from India can of Relaince. Look at the way Mukesh and Anil Ambani fought over control...had this been a prfessionaly run business i m sure the situations would not have developed.we should not professionals as greedy people who just want to earn huge salaries but should look the them highly skilled and exprienced people who run the busineses keeping shareholders interest at top priority. |
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Rate this: +19 -0
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Mann said:
(Wed, Feb 2, 2011 08:31:43 AM)
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| Professional run business' are more likely to take risks hence they have higher gains (or losses) but a family run business is less likely to take a riskso they generally have more stable profits. Morever in family run business' there is more centralisation of authority which makes it extremely rigid and cumbersome, whereasin professional run ones the authority is more decentralised hence decisions are taken faster. |
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Rate this: +0 -2
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Rajesh said:
(Thu, Nov 25, 2010 10:19:40 PM)
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I agree with Aravind. In professional business there are much of innovative ideas rather than same ideas as coming from family business.
More over in family business, the concern person may not take his own decisions in some situations, but in professional business all decisions will be taken by that concern person only. |
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Rate this: +1 -1
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Aravind said:
(Fri, Oct 29, 2010 12:17:35 AM)
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| I agree with Sharan and Kapils thoughts but either it may be a family owned or professional business the success will depends on ability of the concern, in the family owned business easy way to enter in to market but the sustainability depends on the concern ability. But professional business will create more job opportunity for the society and innovation also made from this kind of business. |
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Rate this: +1 -1
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Sharan said:
(Thu, Oct 21, 2010 09:33:49 AM)
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| I agree with you guys, the family owned business have less risk in competitive world, but the person who s having a passion to success will always think about their business only. So he will grow up constantly. I think professionalism in business as well as life s very important. |
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Rate this: +0 -1
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Harishkumar said:
(Thu, Oct 21, 2010 06:23:38 AM)
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Even I'll agree with Kapil that in the family owned business his main intention is to improve the business n success towards the business. Where his /her involvement and improvement is very less in this family owned business.
In this present generation professional business is very much competitive and every one will be looking forward towards their self achievement and they will come up with their innovative ideas. Finally the main goal to gain more profit individually. |
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Rate this: +0 -0
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Rohit said:
(Wed, Sep 29, 2010 12:52:47 PM)
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| Ya even I agree with Kapil that if professional runs a business, he concentrates on self improvement rather than the business. Because there is no guarantee how long he will be with the same business. But if it is a family business the family person will try to maintain the goodwill of the business rather than the self improvement. |
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Rate this: +0 -0
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Bhupendra Merawat Pune said:
(Mon, Sep 13, 2010 03:06:48 PM)
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| I also agree with Saurabh because now a days professionally business is competitive job so everybody attention on his/her job. Only expected profit. |
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Rate this: +0 -0
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Saurabh said:
(Sat, Aug 7, 2010 06:35:33 AM)
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| I really agree with Kapil that in professional run business one is only think avout him only, not for the business. Whatever the loss to bussiness, he don't care, he only cares about to secure the job. |
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Rate this: +0 -1
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Kapil Rathore said:
(Thu, Jul 15, 2010 03:50:15 AM)
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| Hello friends I want to initiate the topic "Family owned business Vs. professionally run businesses", The working strategies behind that businesses are entirely different, in my opinion if someone involved in family owned business then his/her primary goal is to improve the reputation of business, making eyes toward Success of business. But, if he is involved in business professionally then the things are entirely different his/her first goal is related to self improvement then the success of business in which he or she is involved. They always tried to gradually succeed in their professionalism. |
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Rate this: +9 -0
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