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Collaborative Solutions for Family Business Problems
Collaborative Solutions for Family Business Problems
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
Collaborative Solutions for Family Business Problems
Family businesses are a unique type of business as they often face challenges that are not common in other types of businesses. These challenges can arise from conflicting interests, emotions, and personal relationships. However, with effective collaboration, these challenges can be overcome, and the business can continue to thrive.
Communication: One of the most critical issues in family businesses is poor communication. Family members may have different communication styles, and misunderstandings can quickly escalate into larger problems. To overcome this, it is important to establish open and honest communication channels, regularly scheduled meetings, and an agreed-upon decision-making process.
Succession Planning: Succession planning is critical for the long-term sustainability of a family business. It is essential to determine the future leadership of the business and to identify the skills and capabilities required for success. The plan should also consider the interests and aspirations of the next generation of family members.
Conflict Resolution: Conflict is inevitable in any business, but it can be particularly challenging in a family business. To address conflicts effectively, it is essential to have a clear dispute resolution process in place, such as mediation or arbitration. It is also important to have an open-door policy where family members feel comfortable discussing their concerns and working towards a resolution.
Professionalism: Family members may have personal relationships that can affect the way they interact in the business. It is important to maintain a professional demeanor and to separate personal and business issues. This can be achieved by establishing clear roles and responsibilities, creating job descriptions, and having performance evaluations.
Financial Management: Financial management is a crucial aspect of any business, and it is especially important in family businesses. Family members must agree on how the business will be financed, how profits will be distributed, and how investment decisions will be made. It is also important to have a transparent financial reporting process and to have regular financial reviews.
Sharing of Ownership and Control: Sharing ownership and control of the business can be a sensitive issue in family businesses. It is important to have a clear agreement in place regarding the distribution of ownership and control and to have regular discussions about the future direction of the business.
Legal and Tax Issues: Family businesses must also be aware of legal and tax issues, such as estate planning and the transfer of ownership. It is important to seek professional advice from a lawyer and a tax specialist to ensure that the business is structured in the most efficient and effective manner.
In conclusion, effective collaboration is crucial for the success of family businesses. By establishing open communication, effective succession planning, conflict resolution processes, professional behavior, financial management practices, ownership and control agreements, and addressing legal and tax issues, family businesses can thrive and continue to provide economic and social benefits for generations to come.
Collaborative Solutions for Family Business Problems
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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