(PDF) The Global Family Business

Added on - 12 Nov 2020

  • 12

    pages

  • 3824

    words

  • 3

    views

  • 0

    downloads

Showing pages 1 to 4 of 12 pages
Global Family Business
Table of ContentsINTRODUCTION...........................................................................................................................1ASSESSMENT 1.............................................................................................................................1Overall summary of the business................................................................................................1A detailed SWOT analysis..........................................................................................................2Produce a growth plan for the enterprise....................................................................................3ASSESSMENT 2.............................................................................................................................6Define the argue for 3-5 key metrics to measure how the vision translates into social impact..6Clarity the difference between outputs and outcomes and find ways to translates the intangiblevalue in terms of social and environmental impacts...................................................................7Assess strengths and weaknesses to implementation..................................................................7Critically reflect how the social enterprise is contributing to social and macro level................8CONCLUSION...............................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONFamily business refers to the business organisation that involves ownership majority andoverall control lies within the family. The family business brings out many advantages anddisadvantages as well, thus, needs to be managed properly and effectively. The present report isbased on the family business organisation that is a chain of boutique hotels. This business wasestablished in the year 1981 in Leeds, United Kingdom. In this report, brief summary isexplained regarding the relevant product markets and structure. The report also conducts adetailed SWOT analysis that relates to family dynamics and business as well. Further the SWOTanalysis results are used for producing a growth plan for the business enterprise. The producedgrowth plan includes vision and mission statement of company, its core values and various keyperformance indicators. The plan is produced to bring out the key changes in terms of managingbusiness enterprise for achieving plan of growth effectively.ASSESSMENT 1Overall summary of the businessThe family business is controlled by the specific family members who have majorcontrolling stake in the enterprise (Arifin, Ahmad and Jamal, 2018). The business enterprise thatis selected is a chain of boutique hotels and it was established in 1981. the business structure orhierarchy followed by this business enterprise consists of 3 generations. The corporate hierarchycan be describes as: founder at top level, then their two sons and two grandchildren. Productmarket refers to the market place in which the business organisation offers final products andservices. The product market of this family business is spread in over 15 countries. Businessoperations have various grass root hotels in the country England. The business has also expandedits product market place to multinational scale in over 15 countries. The business enterprise ismainly spread in the country Scotland, Ireland, Wales and England (Ang, And et.al., 2018). Thefocus of business is to develop a growth plan that helps in expanding the business and also toincrease the quality of services. This will lead to bring effective benefits for the enterprise.Business can develop its boutique chain business by using the stages to family-business-success(The Four Key Stages to Family Business Success,2016). there are four stages that can guidefamily business entrepreneurs to get the success. Tinkering, the blade years,growth- inflectionpoint and surging growth. Family business enterprise can effectively develop and grow theirbusiness through using these four stages.1
The type of this family business is service business as it operates in chain of boutiquehotels that aims at providing effective services to its customers. The boutique hotels aregenerally smaller in size as compared to regular hotel. The boutique hotels can not provideaccommodates to many people at a time. Thus, this family business enterprise aims at providingquality services rather than focusing on quantity. Boutique hotels have rooms between 10 and100 in a unique settings.A detailed SWOT analysisThere are some strengths and opportunities of family business that helps them in growingtheir business as they run boutique and small hotel. Many family businesses have combinedcourage and hard work which makes them able in creating new ideas. With the helps of newideas and innovations they can make a growth. Sometimes they have to face many problems asthe first generation of this business started this business in 1981 whose headquarter is in UK.This business has variety of strengths that provides this business with a unique selling points likefamily pride, commitment and the values.Strengths:The main strength of this family business is they implement and use differenttheories and models through innovative techniques which helps them in better businessoperations. The another strengths of this family business is it also uses and have properknowledge of business ethics. With the use of business ethics they appreciate those who worksfor them and within in the hotel. It helps in creating values of staff members as well as theircustomers because all the members have the ability and willingness to achieve determined goals.Commitment is another strength for this business. Committed people and members are moreproductive and effective towards their work which give them strength to grow in the market.Weaknesses:The main weakness of this family business is they find difficulties indecision making process because different generations have different views and opinion. Theanother weaknesses and problem that this business face is ineffective communication. Lack ofthe ability of convincing is another main problem of this family business. Advancement oftechnologies also weakness for the company because old generation do not believe on thetechnologies. On the other hand young generation prefer technologies in order to provideservices to their customers. Generation gap create conflicts or disputes among them. Using ofinformal structure and culture also a weakness for this type of business.2
desklib-logo
You’re reading a preview
card-image

To View Complete Document

Become a Desklib Library Member.
Subscribe to our plans

Download This Document