Question: Do you agree with the posted below? why? please discuss one by one 1.The family bisinesses business may be plagued with managerial incompetence, the lack
Do you agree with the posted below? why? please discuss one by one
1.The family bisinesses business may be plagued with managerial incompetence, the lack of exposure to other businesses, and the inability to separate family and work.
2.Some family businesses may have difficulty attracting and keeping highly qualified managers. Qualified managers may avoid family firms due to the exclusive succession, limited potential for professional growth, lack of perceived professionalism, and limitations on wealth transfer. Succession refers to passing the business to the next generation.
3.Family business owners may automatically promote someone from the family or give family members a job even if they do not have adequate skills for the job. A nonfamily employee may be better qualified. This can cause dissension and resentment among other employees.
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