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Business strategy
demerit of a family business.
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[QUOTE="Ramolak19, post: 306809, member: 72962"] To me I think there are lot of demerits in Family businesses and you have made a lot of correspondence tasks about it but I look at it in another wayround [LIST=1] [*]Limited growth potential: Family businesses may be limited in their growth potential due to a lack of external funding and talent. [*]Conflicts of interest: Family members may have conflicting interests and priorities, which can lead to disagreements and tensions within the business. [*]Lack of professionalism: Family businesses may lack the level of professionalism and structure found in non-family businesses, which can impact their reputation and bottom line. [*]Succession planning challenges: Succession planning can be difficult in family businesses, as it may be hard to decide who will take over the business and how ownership will be transferred. [*]Personal issues affecting business: Family issues such as divorce, illness, or personal conflicts can spill over into the business, impacting its operations and success. [/LIST] [/QUOTE]
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