Family Business Challenges

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Business is an activity where the entrepreneur exchanges the services that he offers or the goods that they can offer to maximize their profit buy earning the profit for their activities.
Most business in the world are family owned business which are recorded to be about 920 different companies which provides a great platform for a nation’s economy to grow but it has to face up to many challenges as well.
Some famous business groups and names are Novartis, Walt Disney, Samsung, Walmart, Facebook and Nike. All the names listed are well known and reputed brands. As the family business progresses they have to face up different hurdles and challenges to survive in the industry.
Family business group are conflicts and successions between the
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Which is why it can be seen that a shareholder considers and scan a family oriented business ahead while of making any sort of investment.
It is seen that a family business matures from various stages of business while being in each stage it has to face different issues and challenges and learn to overcome these challenges to ensure the running of a proper business.
NAMES AND INTRODUCTION OF FAMOUS FAMILY BUSINESS
In this world of business around 920 big family owned business companies are present at the moment in the business directory. These 920 companies are saturated in just 35 countries where biggest portion lies in the continent of Asia around 60-65 %.
These companies have been owned by families by generations but family business is faced by a prolonged and bitter quarrel or disputes among relatives and siblings. But still after all that many companies managed to keep their business in hand and stay in the industry.
Here are the names of some famous family owned business:
COMPANY: NOVARTIS
Owned By: Sandoz Family
Mission Statement: “Our mission is to discover new ways to improve and extend people's lives.” (novatis.com,
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Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.” (walt disney, n.d.)
Business Type: Mass media and Entertainment
Introduction: Walt Disney Company was founded by Walt Disney and Roy O Disney in Oct 1923. It is a multi-national company having its head office in the United States. The company works in providing family oriented entertainment to its viewers by animations, movies, its theme park and much more. One of the earliest and well known character of the Disney family is the Micky Mouse which has been the most significant and famous character in the company. The company owns other media networks like Disney channel, ABC network, ESPN and A+E networks.
COMPANY: WALMART
Owned By: Walton
Mission Statement: “Saving people money so they can live better.” (walmart, n.d.)
Business Type:
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