Omaha Steaks: Sons and Daughters Carrying On a Family Business

Small Business Start Up
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Institution
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Should a son or daughter feel an obligation to carry on a family business?
What might happen if that prospective successor chooses not to join the firm?
While family businesses normally start as small businesses they are more likely to succeed if they pursue the objectives and are committed. A son or daughter should not feel obligated to carry on the business, but should be well informed as there are opportunities to lead and contribute in other ways. In the case of Omaha Steaks, Todd Simon the Senior Vice President (SVP) highlights the need to learn and understand about the business (Inc, n.d.). For the sons or daughters understanding the baseline and fundamentals allows them to be more effective in leading and managing. If they choose to be directly involved they need to earn the respect of fellow family members and the employees to have positive influence in the workplace. Even when sons and daughters fail to be directly involved in the family business, th...