Question

differentiate between professional management and family management​

Answer 1

PROFESSIONAL MANAGEMENT:

1. All the major policies of the company are determined by the controlling family .
2. They are loyal towards their own company. You'll rarely find any case where the CEO of a family managed business moved to take a job as CEO of another company just beacause they were offering a higher salary .

FAMILY MANAGEMENT:

1. The professionals are in their position of chairman only as long as they are able to complete their responsibilities
2. There professionals focus on performance and consistency.