A disadvantage to joining a family business is that _____.
Answers
There are multiple advantages and disadvantages to joining a family business. When a person ends up joining a family business that leads to overlapping of personalism and professionalism. Basically, this means that you will have relations with either your employer or your fellow employees which will be beyond professional lines.
This may lead to certain family clashes, resentments boiling up which may effect the business negatively. For instance people may take out their personal grudges. Also sometimes people have to forgo the mistakes of others for the sake of family relations, that leads to lack of skills and efficiency in the business work space.
A disadvantage to join a family business is that Lack of interest among family members.
Explanation:
Thought there are several advantages in joining family business, there also some disadvantages. Some of the disadvantages in joining a family business are as follows. They are,
- Family conflict - conflicts might arise among the family members such as dispute among brothers, sisters. It affects their relationship.
- Unstructured Governance - Some of the rules are not adhere to legal or government laws, which results in dispute.
- Nepotism - Here the chances are given to the particular family alone regardless of their talents.
- Succession planning - Lack of succession planning.
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