Leadership in Family–run businesses
I intend to work in my family business at the end of this course. I just had a thought that how difficult it is for the leaders to manage leadership in family-run businesses. If we look at leadership in this context, I feel the leaders faces a more complex task over here. Leaders do not only have to fulfill all the qualities of a good leader that is expected out of them normally, but here they need to be extra careful as in family-run businesses there is also an issue regarding hurting the feelings of the family member and risking injuring the personal relationships with them. According to certain greats, people should fully distinguish between their personal and professional life but in reality it is not always the case so. It is a known fact that whatever happens in the business can come back to home as well as the world really does not function in the prescribed way of 'whatever happens in office, stays in office.' So, here I believe is where the leadership gets more complex. A leader is facing a much tougher challenge here as there is a possiblity of hurting his personal relationships while doing his job or what is expected out of him. Such a situation can be a nightmare. It adds up to his responsibility and he just have to make sure that he is treating everyone objectively and based on merit and taking decisons that are best for the businesses' result rather than trying to keep his personal relationships attached against the interests of the business. I know that this is what is expected out of a good leader and a good leader should able to find a way where he makes his family member understand as to why is he doing such a thing. However, if he is unable to convinve that memeber,I do feel it is difficult for him and there is always a great tendency for him to bend towards his personal relations. It is this tendency which a good leader have to overcome and should always work towards the betterment of he business. I know saying it is difficult but actually following such a thing really need a lot of will power and determiantion and I could just hope that I never in my life have to experience such a situation.