Managing Family Owned Business Essay Example | Topics and Well Written Essays - 3500 words

Managing Family Owned Business - Essay Example From this research it is clear that family businesses are created for a variety of reasons, but a common belief among founders of family businesses is that working together as a family unit can be more profitable than working alone. Family businesses, whether they are small, local enterprises or large, national companies have unique concerns, such as interrelationships between family members, the question of succession in the next generation, maintaining talent, ownership and finance, in addition to all the problems that other businesses face. A family business has the challenge of balancing both the family and the business. Many times these two systems are in conflict with each other. Power struggles, resolving conflicting vested interests, leadership and mergers are other issues that arise on a daily basis. The importance of the consultant in supplying the guidance and expertise in the area of managerial skills is often overlooked in the family firm either because of lack of financ ial resources or the erroneous belief that an outsider does not know the business and thus cannot offer effective solutions. As resources and energies shift from transaction based to value-added activities, there is mounting pressure to improve traditional measures of business efficiency (Javier & Low, 2003). A family business has the challenge of balancing two distinct and often conflicting systems: the family and the business. Despite family business' significance in the economy, researches are showing that most of them are struggling to survive beyond a single generation. (Krebs, 2001; Carlock & Ward, 2001). According to Theune (2000) â€Å"stories about family businesses that failed due to mismanagement or family conflict are very common.... [and] only three out of ten family businesses survive into the third generation† (p. 1). Researchers are concerned that the biggest factor in the success or failure of family businesses are the relationships between family members. Th ere are many things to consider including personal well being, family life, financial security and even standing in the community (Hubler, 1998). The implications are that each generation can either bequeath the business and the business skills to the next generation or choose to let the emotional, psychological or relational issues destroy the business (Kets de Vries, 1996). The challenge for trainers to overcome is to synchronise individual visions of the family and the business. It is this creation of a shared vision that is the work of the planner or trainer before designing and implementing any technical succession plan that sets up a family business for success (Theune, 2000). Siblings vie for positions within the company over power, status, influence and prestige. There are conflicts over succession with siblings, conflicts over succession with parents, as well as intergenerational conflict. Issues such as how a female successor deals with male resentment and domination and g ains respect have also surfaced. Family businesses suffer from the complications of hiring unqualified

Concert reflection Essay Example | Topics and Well Written Essays - 750 words

Concert reflection - Essay Example The music texture is a combination of homophony and polyphony. The use of imitation is also dominant in the concert. The organizing principle of the music is based on contrast and variations. It has a clear flow of ternary form. The music has a slow speed with uneven spacing. Its dynamics is characterized with softness with a piano play. The concert has a wide voice range. It has a combination of soprano, alto, and tenor. The musical instrument families associated with the concerts include Keyboard instruments, chordophones, and brass. The type of singing group in the concert is known as choral groups. This is evident in acappella singing that features in the performance when all voices sing at the same time. It has a clear Chamber music ensemble as revealed by the pattern used. The singers occasionally remain silence while a single singer sings in certain parts. This was a duet performance in Philadelphia by a great artist known as Pink. Her music is known to follow the romanesca melodic formula. This performance is done at times while seated or standing and has a number of accompaniments which may be limited to the mood of the song. The mood of the song is determined by the message in the song. The rhythm is slow and organized in the basic meters. In has much syncopation in almost all the lines of the music. The music is based on major scale. â€Å"The melody is derived from the singer’s vocal tone that aligns well with the instrumentalist.†(O’toole 123) The vertical events sound in line with the music providing good harmony. Being a western music in the present generation, it borrows much from the lineage having major scale. The concert had a high central tone that could ignite the audience. The music had a dissonance musical space. The texture of her this concert is known to be monophony. It has some sections that take the imitation texture. The music form of the concert is has basic elements of contrast and repetition. This form of music