::::|| VU ||:::: idea solution of mgt 601

Every business organization has a unique set of challenges and problems. The family business is no different. Many of these problems exist in corporate business environments, but can be exaggerated in a family business.

10 challanges of family business are:

1.       Lack of Family Mission Statement

2.       Lack of Well Trained and Qualified Future Leaders

3. Poor Communication 

4. poor planning 

5. Lack of Formal Budgeting

6. Compensation problems for family members.

 7. training

8. investment problems 

9. lack of stretegic management. 

10. overly conservative 

this is only for idea... give these pionts a breif detail..

regards! 

queen mishi :) 

 

 

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