Answer to Question #95616 in Management for Sally

Question

'The success of family and small businesses depends entirely on managers and administrators'. Comment

Answer 1

Indeed, the managers and administrators of a family business primarily influence its performance. The prevalence of the scenario is attributable to the fact that managers and administrators are in charge of the daily operations of such enterprises (Alderson, 2011). As a result of that aspect, it is vital for individuals who are bequeathed family businesses to appoint competent managers and administrators for them to operate sustainably (Zellweger, 2017). The appointment of incompetent family members to the management teams of such enterprises is likely to undermine their going concern, especially if they are the final decision-makers.

References

Alderson, K. (2011). Understanding the family business. New York: Business Expert Press.

Zellweger, T. (2017). Managing the family business. New York: Edward Elgar.