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Management - Essay Example

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The ‘Family Firm institute, Inc’ is a business organization established in the year of 1986 for the key reason of initiating business ideas in the family related businesses (Your membership.com. 2011). …
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Download file to see previous pages 2011). The idea of launching the organization was to satisfy the needs of the families in diverse businesses. Families in the past face difficulty in coordinating family affairs and business. The business requires adequate concentration just like the family. Most of the businesspersons that coordinate with both family and business have faced intensive challenges. This illustrates that, for both the family and business to become successful, the businessperson needs to balance between the two entities. The introduction of the ‘Family Firm institute, Inc’ was mainly an idea to rescue the Los Angeles parents from both family and business frustrations. In the initial stage of the establishment of the organization, the ‘Family Firm institute, Inc’ faced challenges in attaining members (Your membership.com. 2011). Owners of the family members were not willing to join the organization because of the lack of enough information concerning the organization. Being a member of the organization, the ‘Family Firm institute, Inc’ has enabled me to acquire skills in maintenance of the family business and remains responsible to the family affairs. In most cases, the owners of the family business lack the knowledge of maintaining an intimate relationship with the family and perform business activities. For this reason, the businesspersons fail in one of the fields because of failure in management of the family business and the other family related issues. ...
It is not an easy task to maintain the business and other family responsibilities. For this reason, the ‘Family Firm institute, Inc’ has been doing a recommendable job in ensuring that the business owners are capable of achieving the best management skills. However, there are several diverse challenges that the Family Firm institute Inc has been facing in the past few years. The problems have given a negative feedback to the performance of the organization hence affecting the number of new enrollment staffs (Robert, 2011). However, one of the key problems that the ‘Family Firm institute, Inc’ is facing is the lack of a common understanding among the members of the organization. In any given organization, there should be an equivalent understanding between the employees and employers in terms of background and gender. The correlation of employees with each another to deliver outstanding duties and roles at the expected time interval. Conflict in the ‘Family Firm institute, Inc’ arises majorly because of diversity in the educational backgrounds of the people, political difference and preferences, ethical heritage, gender and personal experiences (Robert, 2011). The conflict that arises between the employees has made it almost impossible for the ‘Family Firm institute, Inc’ to achieve its expected goals. The management and the employees lack the appropriate reinforcement to works together as a team to accomplish the roles and duties of the organization. The challenges affect the progress of the organization thus reduce the competence of the employees. The perception of the managers has even made it hard for the problem to be solved in the organization. The key role of the ‘Family Firm institute, Inc’ is to instill professional ...Download file to see next pagesRead More
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