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fights at work come home...so there is more emphasis on harmony and issue avoidance (than is found in publicly owned companies)
less risk taking than publicly owned companies
more ties to "tradition"
difficult to manage promotions, transition....because everyone wants to be the "owner", boss, but instead of being based on qualifications, its often based on family hierarchy
successful business becomes an asset for children to fight over
inheritance always an issue in decision making
big issue...how to pass on a successful business to the next generation?
Alignment of interests
In a family business, this is especially essential to achieve because of the dual nature of the home / work environment. Also, because promotions are often based on family hierarchy, you may find less-than-qualified, or less-than-interested family members with roles of responsibility. Making sure their interests long term are in fact tied to the best interests of the company are especially challenging. see our discussion on interests aligned for more....
In this wiki, you will find a collection of the students notes on a variety of global issues, with a focus on international finance, international relations, politics and business. Clearly not all of the content is our own, nor do we endorse students opinions posted on our pages. There have been many contributors to this site, and our role is just to moderate the content and make sure it fits the "GloboTrends" theme. We try to link properly and send readers to other interesting news sites. If you see any inappropriate material, please let us know.
What are "GloboTrends?"
“GloboTrends” are fundamental underlying trends, which means that they are important, but might not be obvious. Many trends are interconnected, and have global implications. Not paying attention to the development of global trends in can come back to haunt any business person, and so… we have dedicated ourselves to summarizing these events in simple language, and we are trying to show how these events might be important to different regions, and to different industries.
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