Family And Business - Have The Same Management

Running a family is like running a business. Do you agree? The similarity can be pointed out in different aspect:

Budget:

Companies have a monthly operational budget that must be monitored and be kept to the minimum level in order to make the business profitable. The sales or gross profit must be more than the expenses in order to sustain the operation of the company. If the situation is in reverse, employees must try to increase the sales more or reduced the expenses without sacrificing the quality of the product or the service.

Families budget may come from Parent's (or other family member) fixed income that finances their monthly household expenses including incidental expenses such as school tuition, school uniforms, allowances etc. If the total income of the whole family is less than the actual total monthly expense they incurred (which is always the case), then the problem exist. It is either we reduced our monthly expenses to those essential only or try to find other sources of income. This is easier said than done. If not managed properly the result

If your budget allows you, it is recommended that R & R is also needed from time to time.

Teamwork:

A company's manpower is its greatest asset. But in order for this people to move in a cohesive

Manner they need teamwork. Teamwork is the results of making the right people have the right attitude and focus in attaining the objective. They always use the word "we" instead of "I".

The company through its HRD can hire and fire a person that does not fit in the organization.

Family member working a team needs deeper understanding and a lot of investment. It is not money that we invest but our time in nurturing and instilling in their young minds the real value of a family. The success and failure in this aspect can be determined by how each family member knew (from their heart) their individual roles and how they play it. As they say, Players win games and not coaches. Parents should treat their children with respect and dignity. No favoritism and must be fair to everyone. After all, what you sew- you reap.

You cannot choose your family and relative is an adage that is true. You can not just fire your family member because they are not ideal to your standard.

Discipline:

Companies have code of conducts as basis for the discipline within the organization. Without this, there would be kiosk and undisciplined personnel that would ruin whatever the company could gain.

Families should also have their own house rules for every member of the family to follow. As a general rule, leader should be a good follower to set as an example in both cases. It is the Boss, CEO, or the parents whose acts must be seen as the right example.

A company running smoothly is the result of all departments in the organization working in synergy. Same is true in a family that bonds together will surely weather all problems that comes their way.