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Essay / Research Paper Abstract
An 11 page paper. Family-owned businesses are a driving force in most economies. The people who work in these businesses face different challenges than others because there is a family dynamic and a business dynamic. This paper discusses the importance of family-owned businesses and some of their challenges. The paper discusses tradition versus innovation in these companies and how to develop good relationships inside and outside the company. The paper also provides strategies for dealing with issues that relate to relationships and how to overcome those issues. Bibliography lists 10 sources.
Page Count:
11 pages (~225 words per page)
File: ME12_PGfob0.rtf
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Unformatted sample text from the term paper:
methods listed below. Citation styles constantly change, and these examples may not contain the most recent updates.?? FAMILY-OWNED BUSINESSES Enterprises,
Inc. , October 2010 properly! Executive Summary Family-owned businesses are a driving force in most economies. The
people who work in these businesses face different challenges than others because there is a family dynamic and a business dynamic. Often, if there is a problem in one setting,
it will carry over to the other setting. This will lead to lower productivity. This paper discusses the importance of family-owned businesses and some of their challenges. The paper discusses
tradition versus innovation in these companies and how to develop good relationships inside and outside the company. The paper also provides strategies for dealing with issues that relate to relationships
and how to overcome those issues. Introduction In many places in the world, family-owned businesses account for more new jobs and a healthy proportion of a nations
GNP. In European Union member states, they generate between 35 and 65 percent of the GNP, depending on the state (EurActiv 2009). In those same nations, family businesses account for
40 to 50 percent of employment (EurActiv 2009). In the EU, family firms account for 75 percent of all businesses, many having fewer than ten employees. Family businesses comprise between
80 and 90 percent of all businesses in North America (Lannarelli and Bianco 2010; Henchek 2006). Family-owned businesses exist in every country. They drive a good portion of the
economy. A great majority of these family-owned businesses are small but there are some that are large, such as Benetton, Gucci, Forbes and others where the company is a multinational
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