Managment Issues in the Global Family Business Essay

Managment Issues in the Global Family Business - Essay Example It has been said that most family businesses do not last more than two generations and that wealth barely lasts more than three generations (Lee 2008, p.8; Paisner 2007, p.7). Paisner (2007) notes that less than thirty percent of family-owned businesses have sustained their activities for more than two generations before shifting management, and even fewer businesses have managed to maintain their activity to the third generation. This implies that thousands of family businesses wrestle with myriad issues. Successor development, management transition, ownership transfer, creativity, and future focus are some of the issues that becloud the success of family businesses. Italian Family Business presents some of the key characteristics that determine the success or failure of family ventures all over the world. Multi, the owner of the restaurant, has to grapple with management issues and fights tooth and nail to prevent Guido from taking away the family business, something that many othe r similar businesses are grappling with. A look at the major characteristics of entrepreneurial businesses illuminates some of the gaps that might have landed Multi and his family into trouble. There is an unspoken misconception that creativity is only reserved for musicians and writers. This belief is commonplace in most family businesses. In others, there is an underlying conception regarding the usual manner of conducting business. Both mindsets can stifle business creativity, which is an antecedent to innovation, making it hard for family businesses to survive beyond two generations.

Demographics of Durango Local Coffee Houses Research Paper

Demographics of Durango Local Coffee Houses - Research Paper Example Durango is indeed a small city relative to the highly commercialized and highly populated cities in New York and California. Out of the 5492 households, 22.4% have children below 18 years old who are still living with them, 34.2% of the population are married couples that live together while those under the age of 18 compose 16.6% of the population, 26.1% of the population from 18-24, 27.2% from 25-44 years old, 19.4% aged from 45-64 and 10.7% aged 65 or older (Wikimedia Foundation, Inc.). In terms of income, only 7.3% of the population live below the poverty line, the median income for Durango households $34, 892 and the median income for families $50,814, while male are recorded to have higher incomes than females by a discrepancy of almost $7000 (Wikimedia Foundation, Inc.). Currently, there are five top local coffee shops in the city- Durango Joe's on College, Magpies Newsstand, Durango Coffee Company, Steaming Bean and Starbucks in Durango. I have done an individual study on these five local coffee companies to answer the queries regarding the demography of people who frequent these local coffee shops. To know their target customers is also one of the goals of the study. In addition to this, I have also observed the marketing strategies, specifically the advertising strategies that these coffee shops employ to attract their target customers, through direct observation and further research. Durango Joe's on College Starting the year with a bang was Durango Joe's, after its owner Joe Lloyd received the Entrepreneur of the year Award in January. Having a simple philosophy and goal of making each person's day alive with a cup of coffee, Durango Joe's branches are sprouting up all over the town to reach many of its customers (Durango Joe's Coffee). Durango Joe's has recently opened a branch in Farmington to add to its existing branches. Given my observations, Durango Joe's is frequented by diverse types of people specifically of females, who are at early age, particularly of 15-20, 20-25 and 25-30 age groups and with men who are at their late stage, 30-40,40-50 and 50-60 age groups. The younger women who visit the store are usually those who access the net for school or job requirements or who just want to enjoy the comfort and peace of the store. With available personal computers and internet access, these are possible for any consumer. These women are also the ones who usually bring in their books to the store and read while also enjoying a cup of coffee. This has been a habit among the young people especially the women and this explains the higher number of young women in Durango Joe's. Among the groups, older men at the age of 40-50 registered the highest frequency of Durango Joe's visit. The reason for this is that most of these middle aged men do come in groups, being friends or officemates. Durango Joe's has been the popular hub of this group of people who dine for precious chat and laughter. With the recently launched, online ordering, Durango Joe's is not just spreading market to diners but also to those who need instant coffee satisfaction away from retail locations. Magpies Newsstand What exactly makes the