Name: FRI FAMILY FAMILY BUSINESS HAVE UNIQUE CHALLENGES
Uploaded: 2023-02-10T15:12:10+00:00
Duration: 58 s
Description: Family businesses come with a unique set of challenges that are not always faced by other businesses. There can be tension between family members that can make it difficult to work together effectivel

2 years ago

Family businesses come with a unique set of challenges that are not always faced by other businesses. There can be tension between family members that can make it difficult to work together effectively. This is especially true if one member of the family has more experience or power than another, as this imbalance can lead to arguments and conflicts over the direction of the company.

Another issue that arises in family businesses is nepotism - hiring and promoting relatives for jobs they may not be qualified for - leading to an unbalanced workforce and/or employee dissatisfaction. Soon, I will be hosting a webinar on The Business of Family Business. Stay tune!

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