Conflict is one of the most common issues found in between the human relationships. The conflict reduces the effectiveness of the development of the effective relationship between the individuals concerned. The developments of the relationship between the humans have been significantly affected by the increase in the percentage of the conflicts (Robin Buckham, 2016). It needs to be critically understood that the conflicts are defined as the desired disagreement or the argument between two or more of the parties concerned. Conflicts are being reflected to be the most crucial issues throughout the report paper. The paper reveals the fact that the balance between the needs of the business as well as the family is sometimes critical and it then gives rise t conflicts. Therefore it becomes very important to understand the desired causes of conflicts such as future visions, strategies or the goals, balancing the needs of the family as well as the businesses, lack of the effective communication, financial stresses, making effective decisions, managing the desired growth, remuneration etc (Okumus, Altinay, & Chathoth, 2010). The decision-making process plays the major role in evaluating the desired balance between the businesses and the family and therefore it is considered to be one of the most crucial factors for the increase in the number of conflicts.
Survey methods have been used throughout the research paper for the collection of the data. The last 12 months survey report has been used to understand the causes and the number of the conflicts between the people of the different group concerned. The analysis of the 2013 data based on the survey of nearly 50 respondents critically evaluated the fact that formal, as well as the informal meeting, was the desired way for the discussion of the contentious issues. For the understanding of the effects and the consequences of the preferred technological changes, the survey methods have been used for the collection of the appropriate data (Rennie, 2012). The data of family governance mechanisms as well as the business structures and practices consists of the governance positions, communication practices, business practices, business management reports and the desired practices of family governance.
Communication is considered to be the most vital factors that help in establishing the desired understanding between the two of the parties concerned. The communication tools have been used effectively throughout this research paper as to bring out the desired message of the entire report (Saran, Wasala, & Ayub, 2015). The paper evaluates the fact that there exists crucial need to balance the desired needs of the businesses as well as the family with the means of effectual communication processes. The paper brings out the desired message revealing the characteristics of the high performing family business processes. The management of the conflicts is supposed to be of great importance as it helps in increasing the effectiveness of the business processes concerned. The report has been presented systematically revealing the different related to the causes as well as the technological changes along with the future outlook (Thomack, 2012). Moreover, the data collection methods are of vast importance as it reveals the preferred knowledge on the current circumstances. Furthermore, the paper evaluates the preparation between the leaderships and the ownership transitions in order to enhance the effectiveness of the concerned firms. The communication should us the family constitutions, shareholder agreements, shareholder meetings in order to convey the suitable messages to the person concerned. The high performing family business practices have been presented more effectively as to reveal the role of the government and financial resources towards the contribution of the high growth business (Wang & Ramaswamy, 2015).
The report critically evaluates the ethics related to the formal board, shareholder agreements and the ethics from the family constitutions (Hall, 2014). The business processes are different requirements and therefore it becomes very important for the people to understand the actual meaning of the ethics highlighted throughout the report and to implement it effectively. It is unimportant to understand the ethics research and to implement it effectively (Holloman and Adeyeri, 2012). The conflicts have been provided o the top most priority as it helps in reducing the efficiency along with the effectiveness of the concerned firm. Throughout the report, the survey data collected highlights that the respondent revealed the formal along with informal meeting gatherings for the discussion of the causes of conflicts or the contentious issues. Different respondents have their own personal reflection of the entire ethics concerned related to the business purposes or the management of the relation between the family business and the business.
Hall, M. (2014). Disingenuous: The Latest Legal Challenges to Insurance Market Reforms. Hastings Center Report, 44(5), 6-7. https://dx.doi.org/10.1002/hast.349
Holloman, C. & Adeyeri, E. (2012). The social media MBA. Chichester, West Sussex, U.K.: Wiley.
Okumus, F., Altinay, L., & Chathoth, P. (2010). Strategic management for hospitality and tourism. Amsterdam: Butterworth-Heinemann.
Rennie, J. (2012). Rennie & Roberton's Textbook of Neonatology. London: Elsevier Health Sciences UK.
Robin Buckham, R. (2016). KPMG and Family Business Australia.
Saran, S., Wasala, D., & Ayub, N. (2015). G466(P)?Percutaneous endoscopic gastrostomy (peg) in disabling children – a benchmarking exercise. Archives Of Disease In Childhood, 100(Suppl 3), A196.1-A196. https://dx.doi.org/10.1136/archdischild-2015-308599.420
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