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

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

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

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 2 months ago

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