A Fourth Generation Family Business

The present-day(prenominal) team should eat up a plan in management as the business require center on on key sectors much(prenominal) as administration and finance, customer fulfillment and operations, sales and marketing. Such needs a family member who have skills and fanatical about making the family business an asset worth preserving. Senior generations should have transfer plans to the junior generation in the family such that ownership is not lost. This go forth to a fault help in solving homecomings such as technical mistakes, planning in nigh vacuum and the challenge of treating children equitably.Therefore, the current team should eve a plan to specify who is to step into the business, in particular in responsibilities such as ownership, management and leadership among others. 2. The management do the ending because they want to solve whatsoever particular problem that they every dont have the time or the expertise to solve. Therefore, consultants will be the ou tstrip to solve the problem of training and also implement the solutions. Consultants may also help the management team to define the problem they encounter and tending them reach their own conclusion.The involvement of the outside consultants does tot move Graters from its root as a family business. This is because the consultants will be brought in to solve some problem in the business. This will help in the cultivation of harmony. The more skills that come into play in helping the family business involves dealing with the family issue and also dealing with the business issue. 3. I do agree with the Graters decision to stop franchising. The main core of GreaterFranchising manufacturing sectors also owes significant risks for the Graters, and this is also because the customers will know that it is a franchise. Stopping franchising will also help in having the reputation of the name of Graters. It also helps Graters management to work and make the produce branding and advertising . It allows them also to pursue the nationwide distribution through some large networks of supermarket chains and grocery stores. The Grafters will not have problems such as the reaction with the stock markets, as they will take actions themselves.