Purchase Solution

Business Development and Owning a Family Business

Not what you're looking for?

Ask Custom Question

What challenges do you think an owner of a family business might face daily and long term?
What challenges do you think a non family member employee of a family business might face daily and long term?
What challenges would you face if you went into business with your spouse, boyfriend or girlfriend?
What decision would you work through, regarding whether or not to leave your family business to one of your children interested and involved in the business, given that this child does not have the skills to run it.

Purchase this Solution

Solution Summary

The response provides you challenges that confront a family business. It also gives you four relevant references.

Solution Preview

1. The owner of a family business may face daily challenges such as managing the business, attracting customers, collecting payments from customers, getting supplies and managing his own time. In the long term he will face challenges of getting finance for expansion, having difficulties in expanding the business, and in growing his business beyond a point.
2. The non family member employee of a family business might face challenges such as low salaries, few benefits, regular requests for spending ...

Solution provided by:
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
  • "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
  • "Thank you kindly sir. "
  • "Excellent and well explained. --Thank you kindly. "
  • "Awesome notes. I appreciate you."
  • "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution


Free BrainMass Quizzes
Introduction to Finance

This quiz test introductory finance topics.

Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.