Professional managers
This statement makes a professional manager think that do the manager has a chance in family run businesses. Management problems in a family owned business are somewhat different from the problems in a non family business. When close relatives work together, emotions often interfere the business decision.
In some cases, even the best hands are tied as the family member tries to manage the business.
For example, the ceiling on the amount of money that can be spent without permission from the rest of the family may be too low for the situation confronting the company. Having to clear the operating expenditure may mean missing opportunities for increased profits; such as taking advantage of a good price on raw materials or sales inventory. Efficiency may be reduced also by relatives who indulge in excessive family talk during working hours. The manager should set example and insist that relatives refrain from family chit-chat on the job.
Professional managers have a good chance in our family run business. They should be given a fair chance as they know the concepts of management and can take “out of the box” decision with innovative ideas. A family run business may not have different departments and thats why it is very important to carry business to right path.
For example: Rasna is a family run business and they don’t have R & D department. Well if the business don’t have professional managers then they should have professionalism which can lead a family run business reach to heights.

Sayonara!
I m not a has-been I m a will-be

Advertisement
Advertisement
The following two tabs change content below.

dhara

I am Dhara Shah, a BMS graduate, a friendly person with a happy go lucky nature but cannot stand by lies in front of me, sometimes stubborn as well. I am fun loving kinda person and talkative too.
3 Comments
  1. Rahul Sharma 8 years ago

    nice article by dhara shah. i agree with dis…

  2. vagragenericaar.org 2 months ago

    Thank you.

    Youseful blog. Good post.

  3. ciplak cocuklar indir 2 weeks ago

    … [Trackback]

    […] Find More here on that Topic: bms.co.in/do-professional-managers-have-a-chance-in-our-family-run-business/ […]

Leave a reply

Your email address will not be published. Required fields are marked *

*

*

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp
or

Log in with your credentials

or    

Forgot your details?

or

Create Account