What are the advantages and disadvantages of a family business?
I believe one main advantage is that you have way more control over how business is carried out. When it’s a small, family-owned business, the day-to-day stuff is all under the family’s control. Another advantage is that you can build the business from the ground up and have that satisfaction to yourself. But the disadvantage is that you can run into personal conflicts easier. When you are working with the people closest to you, the disputes in business may damage your family relationships.
What qualities does a successful businessman need?
I think a successful businessman needs to have ambition and confidence. They need to have clear goals and pursue them, which requires both of those qualities. Additionally, they have to have good people skills. A lot of business comes from successful relationships with clients and other companies. Plus, I believe a successful businessman also needs to have a good head for numbers. They should know about as many aspects of business as they can.
Do people like to work for a big company or a small company?
I guess people like working for small companies better. Even though the job might not come with as many perks as a big company could offer, I think there are more opportunities to become close with coworkers and have a more welcoming work environment. Big companies can be too concerned with making a profit and neglect their employees in the process, but in general small companies usually value their employees more.
What conditions are needed to start up a business?
I suppose you need to have lots of financial resources and a great team of employees. It’s very hard to start up a business by yourself and without a lot of money. You need people you can trust to work hard and do well. You also need a great business plan to set yourself apart from other companies. I don’t think I’d be able to start up a business myself, but those are the things I think you need.
Do you think globalization is a positive development?
Well, I believe there are definitely pros and cons, but overall globalization seems to be a positive development. For one, it helps expose people to new and different cultures. In this way, they can broaden their horizons and become more sympathetic to people from other countries. Globalization can also help boost national economies and increase a country’s international trades. But every rose has its thorn, one downside I know is that it may decrease the number of jobs and wages because of a cheaper foreign workforce.
from the ground up
have a good head for number
set yourself apart from…
every rose has its thorn
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