Family owned business vs. professionally run businesses

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.

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.

I also agree with Saurabh because now a days professionally business is competitive job so everybody attention on his/her job. Only expected profit.

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.

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.

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.

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.

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.

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.

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.