Family Business Essay - 3061 Words

Management Issues In The Family Business MGT-6340 Dominique Swaffin-Smith Word count: 2650 Submitted by E Pahlsson Content 1. Theory of discussion 2. Corporate governance 3. Family governance 4. Social responsibility 5. Philantrophy 6. Financial performance 7. Berry Bros amp; Rudd limited 8. Conclusion Introduction This report is intended to provide the reader with a discussion of the core areas of interest in terms of assessing a family companies performance. We have selected, Berry Bros amp; Rudd Limited to assess the family governance, corporate governance and social responsibility. The report starts with a brief illustration of interesting areas of the family business continuing with an overview of†¦show more content†¦3. Attending to family organizations, or setting a framework that enables the family to share deciions and communicate effectively and build trsut. 4. Setting family ownership policy and right and responsibilities of shareholders. 5. Resolve conflicts within the family and provide methods to help family members in need 6. Fostering family education and make sure that memebers of current and successor generations have he knowledge and understanding necessary to play their chosen business and family roles ad to achieve shared goal. 7. Coordinating family civic, politic al and philanthropic roles and manage the family relationship with the outside world. 8. Nurture family relationships that provide shared endeavors. Social responsibility According to Kotler and Lee (2005) Corporate Social responsibility is a commitment to improve community well-being though discretionary business practices and contributions of corporate resources. Discretionary practices refer to the voluntary commitment a business chooses to implement these practices and making these contributions to the society. Community-well being refers to the human conditions and environmental issues. Sustainability management of entreprises has become of an increased importance. Stakeholder such as consumers, local communities, interest groups, governments, regulatory agencies and all other entitiesShow MoreRelatedThe Vision of Starting a Family-Run Business Essay594 Words   |  3 Pagesalways be in mind when establishing and running a business. It is important that each member be involved in this process. This process should include making strategic business plans for the future that reflect God’s teachings, and where the family wants the business in a given time frame. Utilizing democratic capitalist frame of mind, families believe in hard work. This model is often ideal for small businesses starting up. Those individuals in the family that are able to demonstrate their hard work areRead MoreDifferences Between Family And Non Family Businesses1663 Words   |  7 PagesBeehr, T., Drexler, J., Faulkner, S. (1997). 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