Describe a family business
○ What is the business
○ What type of customers
○ How you know it
○ What product it sells
○ Why do you like it
● I belong to Phagwara and it is the hub of small scale industry.
● There are many spare part industries run by families.
● My friend Aman’s father runs an industry by the name of Akal Industries.
● I can say that it is a successful business because I have seen it grow to great heights in the past few years.
● His father, Jatinder Singh and his uncle, Parminder Singh are partners in this business.
● One brother looks after the sales and the other looks after the manufacturing section.
● Four years ago Aman’s cousin, Inderpal joined them and now Aman is planning to join them after completing his course in Business Management.
● This business was started by Aman’s grandfather with a handful of workers about
50 years ago but now they have 300 people working for them round the clock .
● They manufacture and supply auto spare parts to various countries like Germany, France, US and Canada.
● They have a very good rapport with their workers and whenever they fulfil big orders, they give bonus to them.
● Aman tells me that his mother and aunt look after the needs of the workers’ families from time to time.
● They make them feel part of their family and that is why they have never faced shortage of labour.
● Aman tells me that if any worker is absent or not well, his father takes his place and does not let the work suffer.
● They also give a lot of emphasis on quality and that is why their products are in great demand in Germany and France.
● Although Aman’s family is very rich, they are very humble and magnanimous.
● His father keeps donating for charity on special occasions.
● So, this is the successful family business that I know of.
Follow Up Describe a family business
1. Do you think governments should regulate exports?
Yes, of course. Regulation is very essential. The quality of goods to be exported should be checked, otherwise it may ruin the reputation of the exporting country.
2. Do you think globalization is a positive development ?
Yes, globalization is a positive development. It has not only brought people closer, but also helped them prosper by providing more opportunities to travel, study, and work anywhere. This has also led to greater exposure to other cultures, making people more broadminded and accepting. Also, trade with other countries has become easier.
3. How to be a successful businessman in your country?
The government in India is encouraging selfemployment. However, to be a successful businessman/woman, one needs to have good business management skills and also, leadership skills. Hard work, determination, dedication, perseverance, patience are some of the traits that a person should have. Besides these skills and qualities, market demand and consistency in providing good quality products and service can make any business successful.
4. Do people in your country like to work for big companies or small companies?
I think that it is a matter of personal preference, as both the big and the small companies have their benefits and drawbacks. So people choose an organization according to their interests, career aspirations, circumstances, accessibility, and many more such factors.
5. What are the advantages and disadvantages of having relatives in a family business?
It keeps the family together. Family members understand each other better. Maximum efficiency is ensured. They are more committed than outsiders. Most family members have good informal internal training. This is because such businesses are usually passed down the family..
● Misunderstandings at home could also be brought to the office and the family expenses could be deducted from the business.
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