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Family owned business vs professionally run businesses

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" In my opinion both family owned business and professionally run business have its own importance. We can see that in professionally run business the main motive of an individual must be his or her self improvement. They have to work hard since starting of their career. Whereas we can see in family owned business the primary goal of an individual is to improve the reputation of their family business. Moreover, the individual do not concentrate on his or her self improvement and it can also happen that there can be future family clashes which can affect the family owned business. One example that we can see is of the Reliance group. Once it was as a team but now there are two different groups under Reliance company. Family owned business concentrates on a single business and how to develop it whereas professional business creates more job opportunity for the society. Professionally run business serve the society and they give a chance to highly skilled people. "



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