We’re team 2

Lê Nguyễn Thiện Ngôn

Lê Kỳ Nguyên
Nguyễn Lê Trinh Nhi
Bùi Đình Nhật
Trần Huê Phát
Mạch Dương Thiên Phi
Trần Bảo Phúc
 1. Game

2. Family business vs corporation

3. Strengths and weaknesses

4. Key to family business success

FAMILY BUSINESS
FAMILY BUSINESS
A commercial entity that is run and managed through
individuals who are either related by blood or marriage.

The decision making power majorly lies in the hands of the

members of one family.

Owned by a particular number of shareholders who have

invested in the business’ stock.

Share the losses and profits generated by the business

operations.

CORPORATION
CORPORATION
 Family Business Corporation

- Values, ethics, experiences and - Perfect organizational structure

education of the family members - Formal approach
- Informal approach - Lack the personal touch
- Stronger link - Directors make decisions
- Patriarchal work culture

- Not be completely appreciated - Assessed and judged on merit

- The family members might be - Judged objectively on the basis

preferred over an ordinary of their worth and value for the
employee corporations.
 Family Business
- Conceived and devised
by the members of the
owning family
- Outsiders do not make
important decisions
- Centralised business
model and structure
- Top-bottom approach
for the formation and
implementation of
decisions
Corporation
- Planning and decision
making is a decentralised
process
- Liberty of giving opinions
- Decentralised organisational
structure
- Both top-bottom and bottom-up
approach
 Generation issuses

Pressure to leave and

succession planning Nepotism

Weaknesses
Pressure to succeed
Family conflicts
Define company goals

Make a plan
+ short term
+ long term

Set management plans

Establish KPIs
More detailed JD
=> less conflict
 Avoid favoritism

Balance between work

and family life
Maintain everything formal in
workplace

Formalize contracts and

agreement in document form

Get creative ideas

Reality check
Nature’s Way Foods is a food-manufacturing company based on the south
coast of England. We put chilled product, the majority of which is lettuce and
food into various types of packaging for the major retailers and various feed-
service companies in the UK

1.Market 2.Product
3.Time 4.Miles
5.Run 6.Volume
7.Milions 8.Efficient
9.System
1.She enjoyed achiving more what she said out to achive goals and
creating a team ethic the most when running a company
2.She does not like working all days in year and having a lonely life when
running the company

1.People 2.Understanding
3.Achive 4.Direction
5.Enthusiasm