Ielts writing Task 2- a family business

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Topic:

Some people believe that the best way to run a business is within the family while others consider this a potential source of problems.

Do the the advantages of a family business overweight disadvantages?

Answer:

Businesses have been adopting various techniques in order to develop in the competitive market. It is thought by a few that businesses can be run much efficiently with the help of family members. Although the advantages of this method are varied, the drawbacks, in my opinion, should be paid more attention.

On the one hand, running a business by relative members is advantageous in some certain aspects. First, the biggest advantage of a family business is the fact that family members go along well with each other and have common values. They are likely to share the same ethos and beliefs on how things should be done so this will create an extra sense of purpose and a competitive edge for business. Second, The family owning and running a business is also much more committed. In fact, in a family owned business, people are working for themselves. Members are more likely to put in the extra hours and effort needed to make it a success. This itself is a great factor that contributes to the success of a business. Third, the simple organization structure and flexible work environment contribute towards increasing the efficiency consequently making the personnel more determined towards the achievement of common goals.

On the other hand, the disadvantages of a family business method are more significant. Initially, lacking of skills or experience is the first problem should be mentioned, some family insstitutions appoint family members into roles that they do not have the skills or training for. This can have a negative effect on the success of the business and lead to a stressful working environment. Furthermore, it’s important to consider that disputes within business can become personal conflicts and bad feelings and resentment could destabilize the operations and put their family relations at risk. Most importantly, many family business owners may find it difficult to decide who will be in charge of the business if they were to step down. The irresponsibility and disagreements between family members can lead to the disintegration of such entities.

In conclusion, running a business by family members have some benefits, but in the long-term, as the organization grows, the requirement to change management approach is undeniable.