TALK ABOUT A FAMILY PERSON YOU WOULD LIKE TO WORK WITH IN FUTURE
Well family businesses are quite common in my country in which famaly members work together as a unit. If given a chance, I would surely love to work with my elder brother and I have been planning for the same for long time. My dream is to set up an educational institute with my brother and together we can make it really successful. The fact that, my brother has management skills right from childhood and at present he is pursuing MBA At the same time, I have interest towards teaching and my dream is to become a teacher one day Unfortunately, the area where we live in, education standard is not good and students have to move to big cities for quality education Our education centre will ensure that they get quality education in their hometown. This business has lot of potential which means we can make good earnings for ourselves The best part is that, we both have very good understanding and always support each other's We blindly trust each other and never have conflicts These things will ensure the smooth running of our business and I wish one day I will have been opportunity to work with my brother.
FOLLOW UPS
Q1 Are there any positive effects of working with a family member?
Ans! Yes indeed, there are certain positive effects Firstly, we feel secure while working with our family members Similarly. there is no any reason of conflict because of trust as we can easily trust our family members. Nevertheless, it helps to improve the bonding among the family members when they work together. ELT
Q2 What kind of family businesses are there in India? Ans? Indians have been running family businesses for long time and usually we see all different type of businesses which are family businesses but most commonly these are the retail shops it can be of anything such as mobile phones store, grocery store. And usually the family members or the two generations take care of the stores together
Q3. Why do people like to set up a family business? Ans3 To be very honest, I think the main reason behind is to run a business there is always a need of number of people and for that reason it is always good to have more and more family members in business as there is no trust issue with the family members and this way all put their best efforts together to take the business to new heights.
Q4. What are the advantages and disadvantages of family business?
Ans4 Since, I have mentioned the advantages that family members get a chance to work together and they can work in harmony and there is no any trust issue but the disadvantages that sometimes they feel that they cannot enjoy the freedom. For example, If I talk about one of my friends whose father is running a store and in the evening he has to sit in the same shop with his father. That mean he has to work under his father and he cannot enjoy his freedom or he cannot take his own decisions.