What Might Succession Be A Critical Point in the Development of the Essay

What Might Succession Be A Critical Point in the Development of the Family Owned-And-Managed SME - Essay Example This research will begin with the statement that the family-owned small and medium-sized enterprises are the commercial organization that is related by marriage or blood and resolution creation is entirely influenced by several family generations. It is believed to be the oldest system of business organization that has advantages of commitment to quality and focuses in long term. It is critical for understanding circumstances that leads to unhealthy and healthy family SME. The family-owned SME is considered as common and oldest model of economic business organization. There are a massive majority of companies from multinational listed and corner shop listed administrations that can be regarded as the family owned small and medium-sized enterprises. The five critical points that involve at the development of family businesses are social capital, human capital, patient financial capital, low cost of governance and survivability capital. The inner circle and human capital are considered as the first resource and the primary element. In the form of external relationships and networking, the valuable social capital has been brought by the family members. The threat of liquidation is lessened by effective family relationships with managers and investors. The firms have an opportunity to provide emergency loans and free labor for survivability capital of their family members. In perspective to infrastructure dimension, the strengths of family firms are innovative, informal, entrepreneurial and flexible. The organizational structure is believed to be effective and simple. This is primarily because the hierarchical position of family-owned SME is simple. Family members have the better understanding of each other. This enables to family businesses to expand globally. Most of the family-owned small and medium-sized enterprises are considered to have compact informal training. The mixture of younger and older individuals adds something new to the family business operation. The family members involved in SME are believed to be more committed to help a business grow and survive. The employee relations for family businesses are better.

Over 30 workers Trapped After Chilean Copper Mine Collapse Research Paper

Over 30 workers Trapped After Chilean Copper Mine Collapse - Research Paper Example The rescue team had to drill another shaft to get into the miners. After, two months of drilling since the collapsed of the mine the rescue team managed to get into the trapped miners. Although, the conditions were unbearable the miners did all they could to remain alive while waiting to be rescued. Moreover, the government provided liquid food like milk to the mines to sustain the health condition of each person. The collapse of San Esteban mine was tragic and distressing mainly to the affected families. Thus, a communication design had to be in place to address the issue to the public and affected families. The government of Chile and San Esteban Mining Company had to filter the information that gets into the world about the disaster. Whelchel and Dauble indicate that the company has to deliver information in two main ways (2011). This is because of the existence of people with difference roles in the group and the having the audience in mind. Firstly, the information should be to the families and workers and secondly to the employees and press. As a result, delivering information with these audiences in mind will ensure most people receive the message as the company and the government intended. ... Therefore, Whelchel and Dauble indicate that the mining company has the responsibility to inform the families of the trapped workers about the happenings and proceedings taking place to rescue the trapped workers. The information will help address the potential need of the families of the mine. The potential need of the employees while receiving the information is to know the chances of survival of the trapped workers. More so to help trace the records of the workers trapped in the mine and stand in solidarity with the company leaders. This will help in the process of rescuing and identifying of the affected families. Before delivering the message about the collapsed San Esteban mine, the company should first know the number of workers trapped and have the list of the workers in the mine. The company would call an impromptu board meeting to explain to the internal management team about the disaster that has just happened and lay strategies of rescuing the trapped people. This will he lp in the clarity of the issues. Durham describes that before delivering information about the mine accident the company needs to know the ways of delivering information to the employees and the affected families (2011). This will help calm and reassure the families and employees and increase the peoples trust in the company rescuing process. Since, the collapse of the mine is a disaster that has affected the country, the government of Chile has to get the first hand information from the mining company before the information about the accident is officially released to other people, The focus of both the company and government will be on the action taken after the release information about the accident. The company could take