Why have you classified it as a family business?
In the the literature, some authors define family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family. Family-owned businesses may be the oldest form of business organization. Similarly my family business was founded by my father and his brothers and now is highly influenced at all levels in the market .
why was it brought into existence?
India is ranked 1st in milk production contributing 23 per cent of global milk production . It required low labour cost and gave more benefits because of the the business was started . My father and his brothers wanted to have a business in which there is less labour cost and more profits .
What advantages and disadvantages does it present today to the family business?
Dairy industry is most profitable and growing business sector of India. There are various business opportunities available to start in this sector. There will always be a need for such an industry and even more due to the large population of my country. However there are more competition in this industry but still we are in this industry because all depends on the quality and the quality of the product .