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010-007 - Family In The Business

Whilst the goal of employing members of the owner's family may be an admirable one, in practice there are many problems to be overcome if the concept of employing family members is to be beneficial to both the family and the business. This paper - "Family In The Business" - explores these comments ...Read more
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Whilst the goal of employing members of the owner's family may be an admirable one, in practice there are many problems to be overcome if the concept of employing family members is to be beneficial to both the family and the business.

This paper - "Family In The Business" - explores these comments in seven pages of notes, giving consideration to the concept of bringing in outside executives to assist in the training of younger family Members.

The paper is presented with comments under the following headings:

  • Employing Family Members
  • "Apprenticing" To A Non Family Member
  • Strategy For Employment Of Family Members
  • Should You Do Business With Family Or Friends?
  • Strategies For Family Members In The Business
  • Spouses Of Family Business Operators
  • Relatives
  • In-Laws
  • Marriage Problems Affecting The Business
  • Development Of Siblings
  • Payments To Children
  • Training Family Members
  • Performance Appraisals And Rewards
  • Recording Career Stages Of Family Members In A Business
  • Pre Nuptial Agreements
  • Overcoming Conflicts
  • Family Businesses - Appreciating What They Are
  • Turning Off At Home
  • Ownership Of The Business
  • Family Business Founder's Problems