Wednesday, October 9, 2019
Health of Family Business Essay Example | Topics and Well Written Essays - 2750 words
Health of Family Business - Essay Example The organisation with the assistance of quality and homemade ingredients is facilitated in providing fresh products, which have assisted in performing business operations in a financially stabilised manner. The marketing activities have also aided the organisation in creating better awareness amid customers in the market segments. However, certain limitations are identified in the area of financial operations, investment procurement and management structure. In this regard, recommendations are made which include online business operations, external investments and developing business relationship with external business consultants in order to ensure that business operations are conducted sustainably. Subsequently, it can be stated that the business operations of the organisation are performed moderately in the market segment of the UK. Family business is a kind of business domain which is conducted based on the prevailing ethos of a family. Family business is recognised as an importa nt backbone responsible for the development of an economy. The concept of family business has assisted in generating wealth along with job opportunities in a community. A business is identified to be a family business if an individual, who has developed the firm, possesses the majority of the rights in making decisions. Additionally, in circumstances when the business operations are managed by family members, it is recognised as a family business correspondingly, a very close family friend operates .