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Family Involvement in Small-to-medium Enterprise Management - Term Paper Example

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The following discussion shall evaluate the several aspects that small-to-medium enterprise (SME) owners evaluate to resolve on the appointment of family members to the management of the businesses as of importance. Therefore, the paper analyzes the common business practices of SMEs…
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Family Involvement in Small-to-medium Enterprise Management
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Download file to see previous pages With the growing competition and the need to grow the segments of operations in order to yield and accrue the benefits born to economies of scale, SME owners acknowledge that managerial positions should be directed to family members since they have a stake in the businesses. Small microenterprise businesses contribute to the biggest percentage of all global businesses. Therefore, competition is evident for each of the business seeks to prosper in growth and profitability over other common and many other entities with similar production and market objectives (Habbershon, Williams, & MacMillan2003, p. 87). SME owners are knowledgeable of the fact that other similar businesses in their segment of operation may engage in unethical ways to amass relevantly, but secret information that will serve for the benefit of the competitors.
The practice of appointing learned family members to such positions is the fact that the owners are knowledgeable of the positive influences such individuals bear (Gomez-Meja, Nunez-Nickel, & Gutierrez 2011, p. 90). Notably, the appointment of family members following a certain protocol of tangible and intangible forms of incentives serve for the benefit of the organization since such managers realize the importance in ensuring successful outcomes and limited threats to their organizations (Martínez, Stöhr, & Quiroga, 2007, p. 90). Agreements signed entitle an individual to manage the SME as a family business and further as an honorable job position with its interest after some time without necessarily being physically active (Eisenhardt 2009, p. 88). This helps individual SME owners to extend the financial ventures, acquire new managerial skills in handling the environmental factors within the market and helps the businesses to grow extensively.  ...Download file to see next pagesRead More
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