How do you define and describe your family business AS a family business? Use the readings to support your claims
I define and describe my family business as a business that is created & controlled by my family members especially my parents.
2. How you think cartoons, metaphors, songs and other non-text communications can improve our understandings of our family businesses?
Cartoons and other non-text communications are used by family business to promote in a number of ways and have been shown to boost audience engagement. Cartoons have been around as a marketing technique for years, and there are some very good reasons why they’re still popular today.
3. Why do family businesses exist?
The family business tends to maintain a longer activity, with stabilizers when it comes to the leadership framework. Especially at the beginning of opening a business, the family part is very helpful because this makes it easier economically in different ways, starting from the employees' side.
4. What key challenges and problems your family business faces?
In recent years, immigration has become a big problem in my country.
Businesses in general have encountered many difficulties in finding employees. This is also the case with my family business.
5. Which famous family business you find the most fascinating and why?
Of course, every world-famous business family has an extraordinary story behind it with the ups and downs it has had over the years. But what intrigues me the most about large family businesses is the percentage of the use of family members in the business.
Aldi's business is 100% owned by the family even today, which shows that even after so many years, the legacy of the generations in this family business remains intact over the years.
6. What myths the news media create about family businesses?
The most common myth in media news about family businesses is the inheritance part from generation to generation. But the fact is that only 30% are successfully transferred to the second generation of the founding-family owners & only 12% survive under current ownership to the third generation.
Your post provides a descriptive overview of various aspects related to family businesses, including their definition, communication methods, existence, challenges, fascinating examples, and myths perpetuated by the news media. However, there are several areas where your post could benefit from improvement in terms of depth, analysis, and use of evidence.
Descriptiveness: Your post effectively describes your family business as one controlled by your parents. This aspect of your response is clear and straightforward.
Myopic vs. Analytical: While you touch upon various topics related to family businesses, such as communication methods and challenges, your analysis remains somewhat myopic. For instance, you could delve deeper into the reasons behind the challenges faced by family businesses, beyond immigration issues. Additionally, a more analytical approach could involve exploring potential solutions or strategies to address these challenges.
Normative vs. Value-Adding: Your post tends to be more normative, presenting general observations and statements about family businesses without offering significant value-added insights or critical analysis.
Use of Examples and Evidence: Your post lacks real-world examples or evidence to support your claims. Incorporating concrete examples of how family businesses have addressed challenges or utilized effective communication methods could enhance the credibility and depth of your analysis.