Family Business - Research Paper ExampleThe other family members in family-run businesses do not often accord the same level of respect to the decisions made by their siblings or relatives who may be in charge of the family business. Many times, siblings will overrule the decision of a sibling who was chosen by the parents to hold a position of authority. This shows a lack of structure that is vital in ensuring that organizations realize their goals. This lack of structure is also to blame for the procrastination of important tasks within an organization. Procrastination can result in delayed succession planning which is detrimental to a company. According to the family business survey, which was meant to assess different how the different functions in family-run businesses are conducted, only 12% of the reviewed family businesses had documented plans dealing with succession planning (The Family Business Survey, 5).
