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Building Strong Relationships in Family Businesses
Building Strong Relationships in Family Businesses
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Building Strong Relationships in Family Businesses
Building strong relationships in family businesses is crucial for the success and longevity of the company. Family businesses come with unique challenges, such as balancing personal and professional relationships, handling conflicts, and ensuring a smooth transition of power. Here are some key steps to building strong relationships in family businesses:
Define roles and responsibilities: Clear definitions of roles and responsibilities within the family and business can help prevent misunderstandings and conflicts. Family members should understand their responsibilities within the company and how their role fits into the overall success of the business
Encourage open communication: Family members should feel comfortable discussing any business-related issues and airing their opinions. Encouraging open and honest communication can help build trust and respect between family members.
Establish a fair and equitable compensation system: Family members should receive fair and equitable compensation for their work in the business. This helps to avoid resentment and foster a positive work environment.
Develop a succession plan: A well-thought-out succession plan can ensure a smooth transition of power and prevent conflict within the family. The plan should take into account the skills and abilities of each family member, and should be reviewed and updated regularly.
Foster a positive work culture: A positive work culture can help build strong relationships and foster a sense of unity within the family business. This can include encouraging teamwork, recognizing and rewarding hard work, and promoting a supportive work environment.
Address conflicts promptly: Conflicts are inevitable in any family business, but it is important to address them promptly and find a resolution that works for everyone involved. This can involve mediating a discussion between family members, seeking outside help, or even involving a third-party mediator if necessary.
Set and enforce boundaries: Family members should set boundaries between their personal and professional relationships to prevent burnout and avoid conflicts. This can include not discussing business matters during family gatherings or avoiding conflicts with family members outside of work.
Invest in professional development: Encouraging family members to pursue professional development opportunities can help build their skills and improve the overall success of the business. This can include attending conferences, taking courses, or pursuing additional education.
Emphasize the importance of family: Despite the challenges of running a family business, it is important to emphasize the importance of family and the unique bond that family members share. This can help build strong relationships and foster a sense of unity within the family.
In conclusion, building strong relationships in family businesses requires effort and commitment from all family members. By establishing clear roles and responsibilities, encouraging open communication, fostering a positive work culture, and addressing conflicts promptly, family businesses can set the foundation for a successful and long-lasting company.
Building Strong Relationships in Family Businesses
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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