The main point or argument for that matter that this paper is identifying is whether family-owned businesses perform better than non-family businesses. On the one hand, family-owned businesses seem to perform better since they are only answerable to themselves especially in an economic crisis. On the other hand, family-owned businesses do not seem to make as much money in normal circumstances compared to non-family businesses. Nonetheless, I believe that non-family businesses outperform family-owned businesses. In the first place, it is difficult for family members to disassociate their personal feelings from the businesses that can be detrimental to the overall management of a business entity. That is in contrast to a public-traded company that places a high premium on professionalism hence personal feelings cannot interfere with the business operations and functions. Second, the pressure to stay or succeed may work against a business managed by family members even when things are not working. Third, cases of nepotism may frequently arise at the expense of competence and skillful personnel and more so when there is immense pressure to employ family members.
The audience targeted includes managers and leaders working in family businesses as well as employees.
The purpose or goal of this paper is to give insights to people managing family businesses and how normal operations and functions can work against them when certain family issues confront them. The use of support material will make this essay successful.
The resources to be used include an article by Baldwin & Steen (2015) as well as data from The Conway Center for Family Business.
The strategic places that will require integrating evidence is in the subtopics that in the wider context support the main point of argument.
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