Family Business Research Paper Example | Topics and Well Written Essays - 1000 words

Family Business - Research Paper Example Critical Issues Involved Within Family Business In accordance with survey report of KPMG (2009), it has been observed that family businesses mainly deal with such features or aspects that are unique to their business. Therefore, there exist certain issues with regard to the accumulation as well as the preservation of occupational assets along with wealth by implementing and applying various measures. Family business also entails issues such as management, ownership along with governance. Succession planning, growth and progression are also pertinent issues that are being faced by family businesses. Compensation issues related with reimbursing the family members is also a matter of concern as it creates a significant extent of problem within the management of family business. Another prominent issue that depicts rivalry among family members or siblings also creates a hurdle in the growth and the development of the family business (PWC, 2012; CBIA, n.d.; ICFIB, 2009; KPMG, 2009; Mass M utual Financial Group, 2007). In the opinion of the survey report published by ICFIB (2009), it has been assessed that issues with regard to governance is a primary problem of family business. ... e selection of appropriate member for a designated position in the organizational hierarchy is at times not done which results in creating an issue with regard to fairness as well as justice. In the survey report, it has been further revealed that family businesses do not maintain or inculcate written documents concerning employment policies. Communication gap and conflicts within in-laws are issues that have been recognized through the survey in the above article (PWC, 2012; CBIA, n.d.; ICFIB, 2009; KPMG, 2009; Mass Mutual Financial Group, 2007). According to the survey report of Mass Mutual Financial Group (2007), it has been taken into consideration that labor costs, estate taxes and health care costs are certain issues that arise within family business. Furthermore, it has also been ascertained that family businesses mainly rely upon their close associates for assistance and advise which at times creates a major issue in terms of rivalry within family members. In the opinion of P WC (2012), it has been determined that in family businesses there are issues related to taxation as well as accessibility with regard to capital. According to the survey report, it has been revealed that in Finland, key issues that are being faced by family businesses include staff recruitment as well as prevailing market conditions. The reviews and the survey reports depict the current prevailing issues within family business that are affecting the growth and development of the organizations. Family businesses are executed worldwide inculcating common issues within its system (PWC, 2012; CBIA, n.d.; ICFIB, 2009; KPMG, 2009; Mass Mutual Financial Group, 2007). Mitigating Issues for Growth and Development Succession planning is a major issue within family business. In order to resolve such

Globalization Essay Example | Topics and Well Written Essays - 2750 words - 1

Globalization - Essay Example The opponents of globalisation until now have achieved greater success in garnering support from the public, owing to their ability for framing arguments in their favour, focussing on issues like use of child labour by MNCs in developing economies, and indifference of the developed nations towards serious health issues like AIDS seen rampantly spreading in the developing nations. The proponents of globalisation on the other hand present statistical data in their favour that though scien...tifically sound evidences are often difficult to comprehend from the viewpoint of a layman (ibid). Despite the contentions over globalisation and its effects, in the past three decades, observations reveal that large-scale globalisation and worldwide interconnectedness have gained increased popularity in all spheres of life, ranging from economic to technology to cultural. Globalisation of world economy has occurred due to rapid expansion of trade, financial activities, production of goods, which li nks economic growth and development of all nations across the world within the main trading zones (developed nations) and beyond (emerging economies of developing nations). As was evident during the global economic crunch of 2007-2008, currently globalisation has taken place to such extent that no national economy can safeguard itself from the ‘contagion effect’ of the disturbances within global financial markets (Baylis, Smith and Owens, 2011). The term globalisation can be interpreted in various ways. According to the most popular interpretation, the term means creation of a uniform platform at global basis, where there is synchronisation of technology, economy and culture, to create a standardised world. This perspective primarily translates into referring globalisation as westernisation of the oriental world. According to another perspective, globalisation is a form of hybridisation that creates a melange of various cultures and socioeconomic structures worldwide. H owever, from a study of the various perspectives it is not easy to derive a particular ‘correct’ interpretation, as the meaning of the term can vary based on the context on which it is used. As for example, economics globalisation, which takes place through the integration of national economies with the global economy via foreign direct investments or FDIs, capital flows, immigration and spread of technological knowledge in all fields, refers to liberalisation of trade markets and spread of capitalist market values (Bhagwati, 2004). In the arena of international relations, it refers to the development of global power play with more focus on interstate relations. Globalisation within sociology relates to changes within the present society its effects and the development of the so-called ‘global society,’ while in cultural context globalisation pertains to the study of effects of global interconnectedness on the culture and identity of various communities wor ldwide. Therefore, it is quite clear that globalisation has many facets and is hence difficult to delineate and ascertain whether it is a panacea (as per the neo-liberals who are strong proponents of globalisation) or a plague (as per the leftists or the anti-neoliberal group forum that are against