Taking over family business:
I think taking over family business is a rightful decision to make when the present CEO will retire, whether it is small business like selling ice creams, or a big business like Samsung. Who gives or either receives the business, which is a parent giving their offspring their job, will feel very grateful and relieved to one and another and it’s the best for CEO when he or she wants to retire peacefully without spending money.
First of all, the son or a daughter will know the best of their mom or dad’s job because he or she knows that one will take over the business and their parent always talks about it. When the CEO’s offspring is working, there is more chance for them to know it’s work and more likely to be the next CEO. It might be hard when he or she got handed down the business at first, but with the previous CEO’s help, there will be no problem in handling the business.
Secondly, the giver and receiver both mentally feel nice. The parent will feel very safe, and personally great for themselves, to their son or daughter because the parent will think they can actually give over their business to their own trustworthy child than to some strangers at work. Whether it is successful business or not, they’ll also feel proud to give their own business to their child because it was the business that they were working at for at least 20 years of their life, and they’ll feel inspired that their child will work along the business which the parent were working. Not only the parent will feel great, the child who will now own the business will feel relieved that they got a job. All the better, he or she is a CEO of that job. So the parent and the child will get benefits from family business.
Lastly, it’s more financial and efficient in time. If the offspring of the CEO doesn’t take over the business, there has to be a public recruit to choose the next CEO. In order to do public recruit, it needs to have advertisements, tests, meetings… et cetera. So as to do the public employment, it needs lots of time and money. For advertisements and tests, you need paper and ink. Making time for this whole thing might take for about 2 weeks, doing this thing will take for about a month. But hiring one of your own family members doesn’t cost money or that much time.
Overall, taking over family business is a controversy topic when it’s time for employment time.
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