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Topic : Decoding Family Dharam Sankats....
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Is it safe to work in a family run business?

Created by : James Masih, Product/Brand Manager, FedEx  | 11 27 2010 06:35:55 +0000
Industry : FMCG/Foods/BeverageFunctional Area : Getting Started(Entrepreneurship)
Keywords : business family dharam sankats family run business
Activity:  224 views;  last activity : 03 04 2011 06:54:41 +0000

In a family business, one or more members within the management team are drawn from the owning family. Family businesses can have owners who are not family members. Family businesses may also be managed by individuals who are not members of the family. However, family members are often involved in the operations of their family business in some capacity and, in smaller companies, usually one or more family members are the senior officers and managers. Many businesses that are now public companies were family businesses.

So, is it safe to work in family run business??

 

  
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this is the safest base to explore new ideas in business..
By Rohit Thakur, Electrical Engineer-Industrial, Quality Engineering and Software Technologies  11 27 2010 07:13:37 +0000
 
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What is unsafe in it. It is the only way to maintain a life of a joint family which really required today. The bad part of this is that each and every member wants to be boss, which leads to indiscipline which affects the close family relations. One has to be disciplines enough to keep the family relations away from the business relations and follow the final instruction of the administrator of the business.
By Onkar Datt Sharma, Manager (Technical), Retired  | 11 27 2010 16:02:13 +0000
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Family business provides lot of social security. your position is secured. you dont need to compete with other members of the family, you just need to survive and make yuorself at the top. you have a huge resposiblity of sustaining the values of your parents and to carry on adding on it .one wrong decision can affect your goodwill. For avery long period of time you have to move inside the framework already created in the business. breaking the barriers at an early stage is risky. But with time, (paitence) if you have in you " your own Enterprising skills" you are an achiver.......the business cannot survive without you.
By Harshita Kesarwani, Head/VP/GM-Client Servicing, Allahabad Marble Works  | 11 27 2010 15:42:58 +0000
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It is safest way to enter into business, as family members are there to guide you or to support you.
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 11 27 2010 12:57:02 +0000
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Yes it is okay to work in family business ..but condition is that it should not sololy depend upon one person decision (ie family member) .. but there should be bored of directors who analytically take decisions and also codes of conduct to be followed.
By siyaram yadav, Managment Trainee, Eastern Medikit Limited  | 11 27 2010 12:36:39 +0000
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Yes it is safe to work in a family run business but also conditions are there like u must aware of the process in tha business also bun is goin good otherwise you will feel pressurised and not able to perform.....
By Manish Lalla, M.M.S student, H &GHM INSTITUTE OF MANAGEMENT  | 11 27 2010 09:53:21 +0000
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You cant depend on family businesses. They are suffering from internal rivalry, traditional way of working and lack of professionalism. They need to overcome it or they will not survive the competition. And to change they need to corporatise themselves.
By Nilesh Pawar, Legal & Secretarial, Valencia Professional & Management Services LLP  | 03 03 2011 09:26:58 +0000
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IF YOU WANT TO BE SELF SUFFICIENT AND SHOW YOUR TALENT YOU MUST DO BUSINESS AT YOUR OWN . BECAUSE AS IT IS SAID IN HINDI" BARGAD KE NICHE BEL NAHI PANAPTI".SO IF YOU WANT DO SOMETHING AT YOUR OWN DO IT ON YOUR SHOULDERS NOT UNDER FAMILY SHELTER.
By rakeshbhatnagar , GM Projects., wig brothers india pvt.ltd.  | 11 27 2010 17:17:12 +0000
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In my opinion I'll not prefer to work in family run business. In such type of businesses the family members are very emotional to each other & they pay less interest to other parties.
By James Masih, Product/Brand Manager, FedEx  | 11 27 2010 06:35:55 +0000
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