Answer to Question #98490 in Management for Mebo

Question #98490
Critically discuss from a managerial point of the argument that small family businesses can perform better than small non-family businesses
1
Expert's answer
2019-11-13T09:53:32-0500

A managerial point of the argument that small family businesses can perform better than small non-family businesses

The success of any business depends on the coordination of activities within that particular business. In this regard, teamwork is considered an important aspect. A small family business has the probability of succeeding much as compared to small non-family businesses. This is because in a family set up; people will work as a team thus enhancing the effectiveness and efficiency of the respective business, unlike the small non-family businesses. Also, small family businesses can perform better than small non-family businesses because members have a common objective, unlike non-family business, which might have conflict of interest between owners of the respective business. 



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