Question

In: Operations Management

annual meeting, the board of directors, and the advisory board of the family business Describe their...

annual meeting, the board of directors, and the advisory board of the family business

  1. Describe their role and function in the company of the family business and discuss how their utilization could be improved

Solutions

Expert Solution

Question

annual meeting, the board of directors, and the advisory board of the family business

  1. Describe their role and function in the company of the family business and discuss how their utilization could be improve.

Family business meaning: Family business referes to the two or more person or a family carrying a business with there own ownership. It is managed by a family.

Role of the family business:

1. The company is owned and managed by a family.

2. Family members will the share holders.

3. Profits and loss will be managed incurred by the family.

4. Family members will be decision maker.

5. Monolopolized decision will be taken in the family business..

6. Vision, ission and goals will be described by the family members.

7. The family will be the policymakers for the business

How to improve family business:

The family business can be improved by issuing thr shares to public and also by taking the opinions of the stakeholders and board of directors in decision making which will also helps in expanding the business and earning more profits. This may also help in increasing the investment.

conclusion.

To conclude the family business may fail due to limited resources hence the roles and responsibilities to be offered to the outsiders and also be ready for any change in the market .

keosha answered 5 months ago
Next > < Previous

Related Solutions

Company X conducts the Annual Board Meeting for the Directors and shows them the Annual Report....
Company X conducts the Annual Board Meeting for the Directors and shows them the Annual Report. During the evaluation of report some issues were identified, in initial 3 years company shows profitability but did not grow as expected. If the following are the identified problems then what are the major organizational challenges the company is facing? Elaborate in your own words with proper justification.
12) At a recent board of directors meeting of Ascot , Inc., one of the directors...
12) At a recent board of directors meeting of Ascot , Inc., one of the directors expressed concern over the allowance for doubtful accounts appearing on the company's balance sheet. "I don't understand this account," he said. "Why don't we just show accounts receivables at the amount we should receive if we should them to a financial institution and get rid of that allowance account? what the balance sheet presentation of accounts receivable is supposed to show?
At a meeting of the board of directors of Barby Limited it was decided : 1....
At a meeting of the board of directors of Barby Limited it was decided : 1. To redeem the redeemable preference shares of the company on 30 September 2006. 2. To achieve this by a fresh issue of the maximum number of ordinary shares of permissible without the necessity of calling a meeting of shareholders. 3. That the issue price for the proposed issue would be R1, 20 per share 4. That the redemption should be made in such a...
At a recent board of directors meeting of Bismark Corp., one of the directors expressed concern...
At a recent board of directors meeting of Bismark Corp., one of the directors expressed concern over the allowance for uncollectible accounts appearing in the company's balance sheet. ldon' t understand this account," he said. Why don't we just show accounts receivable at the amount owed to us and get rid of that allowance? Respond to the director s question; include in your response? (a) an explanation of why the company has an allowance account (c) how accrual accounting (as...
Karim is the president of Samirad Company. At a meeting of the board of directors, Karim...
Karim is the president of Samirad Company. At a meeting of the board of directors, Karim was asked to explain why audits of the company are made by (1) internal auditors (2) independent auditors, and (3) government auditors. One board member suggested that the company's total audit expense might be less if all auditing was done by internal auditors. Karim was unable to distinguish between the three types of auditors or to satisfactorily respond to the board member's suggestion. Instructions:...
QUESTION 2 Liyala Sdn Bhd is a successful family-run business. The board of directors is led...
QUESTION 2 Liyala Sdn Bhd is a successful family-run business. The board of directors is led by the founder of the company, Liyala who is both chairman and CEO. The other board members, a finance director and two non-executive directors, are also Liyala’s brother and daughter. The members of Liyala family own all the share capital of the company.The company does not have a company secretary, and its auditors are a local firm of accountants in the town where Liyala...
Explain the division of power between the Board of directors and General Meeting of Shareholders.
Explain the division of power between the Board of directors and General Meeting of Shareholders.
You are attending a meeting with the Board of Directors of The Miami Heart Group, P.A....
You are attending a meeting with the Board of Directors of The Miami Heart Group, P.A. The doctors are concerned about the large amount of cash that accumulates in the practice checkbook for long periods of time. Explain to them cash management and how you think they might approach putting this money to work earning interest.
Ch. 8 12) At a recent board of directors meeting of Ascot , Inc., one of...
Ch. 8 12) At a recent board of directors meeting of Ascot , Inc., one of the directors expressed concern over the allowance for doubtful accounts appearing on the company's balance sheet. "I don't understand this account," he said. "Why don't we just show accounts receivables at the amount we should receive if we should them to a financial institution and get rid of that allowance account?" Prepare a written response to the director. Include in your response (1) an...
Explain the division of power between the Board of directors and General Meeting of Shareholders. Discuss...
Explain the division of power between the Board of directors and General Meeting of Shareholders. Discuss who is bound by the Constitution and replaceable rules. With respect to the different parties briefly outline the rights that may be enforced under the Constitution and replaceable rules Detail the conditions that must be satisfied for a small scale offering to be exempt from the disclosure requirements. List the benefits of voluntary administration as a process that gives business an opportunity to recover?
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT