Question: How to comment on my classmate Kassandra post Some things that help keep family businesses moving forward is the trust, loyalty, and commitment they have
How to comment on my classmate Kassandra post Some things that help keep family businesses moving forward is the trust, loyalty, and commitment they have among each other. Those are things that take time to gain with a stranger, so having that already gives family businesses a nice advantage. Though there are lots of positive, there are also lots of negatives that come from working with family. Entitlement is one of those negative, people will come fresh into the business and expect to basically run things without the experience or knowledge because they're family which can cause lots of friction. Some complex roles where entitlement can show are sibling rivalry, parentchild relationships, and in laws. This can be eased by assigning roles with clear role descriptions to everyone. Managerial succession in family business is the transition of management and ownership of the business.
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