Nov. 12, 2022
1 What kinds of family businesses are common in Vietnam?
One of such types that I can think of is those in the real estate and rental and leasing sector. The growing urban transition for better employment and educational opportunities has led to an ever-increasing demand for rental accommodation in major cities, resulting in soaring rental prices for accommodation. So rental properties are a very lucrative business and can even be able to provide enough income for the living of three generations of a family. I have seen many parents, who own some real estate properties, give each of their children a boarding house with multiple rooms for rent so that they just need to collect rent for a living after they had reached adulthood. Another form of common family firms in Vietnam is probably food and drink services. Many of the owners of the food outlets that I have come to take over the business from their grandparents or parents. These outlets usually have an established reputation and many loyal customers.
2 Is it good to work with family members? Why?
I think it can have both upsides and downsides. Since family members are those that you can trust, and you have intimate knowledge of one another, you can probably expect fewer conflicts and more understanding, as well as having someone that can take your side. In the case that your family members own the business or are your direct employer, you can also enjoy job security - since it is unlikely that they will fire you – and a flexible work environment, where it is easier to take days off or choose a suitable work schedule. Having said that, it might be difficult to detach from work; disputes at home can cause tension at work and vice versa. Besides, if you are the owner or the manager, you might encounter uncomfortable situations such as having to fire your relatives who have poor performance or are always late to work.
3 Why do people want to do family business?
Some people may believe that a family firm is more stable and have a greater sense of commitment and accountability than a non-family one. They think for the sake of the whole family, the members will do their best to prosper the business, and may be willing to make financial contributions in hard times such as pay cuts or suspended dividends. Besides, parents, who run a lucrative business, usually want to pass it down to their children. They teach their child all the key secrets to continuing their successful path, at the same time adopting their children’s modern and new ideas. This is the recipe that is seen in many family companies that can thrive for decades.
4 What benefits are there when working for big companies?
Large companies can mean a great chance of promotion because they tend to have many higher positions available, and the means and resources to provide further training for their workers. Also, it often takes a long time for a company to expand its scale, so big companies usually have a well-defined everyday process so that each employee can only have to complete their specific tasks and responsibilities. Another advantage is that you will have a higher social status if you work in a large company. For example, people tend to think more highly of those that work in big tech giants such as Google or Apple than those that work in the same position, but in unknown micro companies.
1 What kinds of family businesses are common in Vietnam?
One of such types that I can think of is those in the real estate and, rental and leasing sector.
The growing urban transition for better employment and educational opportunities has led to an ever-increasing demand for rental accommodation in major cities, resulting in soaring rental prices for accommodation.
So rRental properties are a very lucrative business and can even be able to provide enough income for the living of three generations of a family.
I have seen many parents, who own some real estate properties, and give each of their children a boarding house with multiple rooms for rent so that they justonly need to collect rent for a living after they had reached adulthood.
Another form of common family firms in Vietnam is probably food and drink services.
Many of the owners of the food outlets that I have comego to take over the business from their grandparents or parents.
These outlets usually have an established reputation and many loyal customers.
2 Is it good to work with family members?
Why?
I think it can have both upsides and downsides.
Since family members are those that you can trust, and you have intimate knowledge of one another, you can probably expect fewer conflicts and more understanding, as well as having someone that can take your side.
In the case that your family members own the business or are your direct employer, you can also enjoy job security - since it is unlikely that they will fire you – and a flexible work environment, where it is easier to take days off or choose a suitable work schedule.
Having said that, it might be difficult to detach from work; disputes at home can cause tension at work and vice versa.
Besides, if you are the owner or the manager, you might encounter uncomfortable situations such as having to fire your relatives who have poor performance or are always late to work.
3 Why do people want to do family business?
Some people may believe that a family firm is more stable and have a greater sense of commitment and accountability than a non-family one.
They think for the sake of the whole family, the members will do their best to prosper the business, and may be willing to make financial contributions in hard times such as pay cuts or suspended dividends.
Besides, parents, who run a lucrative business, usually want to pass it down to their children.
They teach their child all the key secrets to continuing their successful path, at the same time adopting their children’s modern and new ideas.
This is the recipe that is seen in many family companies that can thrive for decades.
4 What benefits are there when working for big companies?
Large companies can mean a great chance of promotion because they tend to have many higher positions available, ands well as the means and resources to provide further training for their workers.
Also, it often takes a long time for a company to expand its scale, so big companies usually have a well-defined everyday process so that each employee can only have to complete their specific tasks and responsibilities.
Another advantage is that you will have a higher social status if you work in a large company.
For example, people tend to think more highly of those that work in big tech giants such as Google or Apple than those that work in the same position, but in unknown micro companies.
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1 What kinds of family businesses are common in Vietnam? This sentence has been marked as perfect! |
One of such types that I can think of is those in the real estate and rental and leasing sector. One |
The growing urban transition for better employment and educational opportunities has led to an ever-increasing demand for rental accommodation in major cities, resulting in soaring rental prices for accommodation. This sentence has been marked as perfect! |
So rental properties are a very lucrative business and can even be able to provide enough income for the living of three generations of a family.
|
I have seen many parents, who own some real estate properties, give each of their children a boarding house with multiple rooms for rent so that they just need to collect rent for a living after they had reached adulthood. I have seen many parents |
Another form of common family firms in Vietnam is probably food and drink services. This sentence has been marked as perfect! |
Many of the owners of the food outlets that I have come to take over the business from their grandparents or parents. Many of the owners of the food outlets that I |
These outlets usually have an established reputation and many loyal customers. This sentence has been marked as perfect! |
2 Is it good to work with family members? This sentence has been marked as perfect! |
Why? This sentence has been marked as perfect! |
I think it can have both upsides and downsides. This sentence has been marked as perfect! |
Since family members are those that you can trust, and you have intimate knowledge of one another, you can probably expect fewer conflicts and more understanding, as well as having someone that can take your side. This sentence has been marked as perfect! |
In the case that your family members own the business or are your direct employer, you can also enjoy job security - since it is unlikely that they will fire you – and a flexible work environment, where it is easier to take days off or choose a suitable work schedule. This sentence has been marked as perfect! |
Having said that, it might be difficult to detach from work; disputes at home can cause tension at work and vice versa. This sentence has been marked as perfect! |
Besides, if you are the owner or the manager, you might encounter uncomfortable situations such as having to fire your relatives who have poor performance or are always late to work. This sentence has been marked as perfect! |
3 Why do people want to do family business? This sentence has been marked as perfect! |
Some people may believe that a family firm is more stable and have a greater sense of commitment and accountability than a non-family one. This sentence has been marked as perfect! |
They think for the sake of the whole family, the members will do their best to prosper the business, and may be willing to make financial contributions in hard times such as pay cuts or suspended dividends. This sentence has been marked as perfect! |
Besides, parents, who run a lucrative business, usually want to pass it down to their children. Besides, parents |
They teach their child all the key secrets to continuing their successful path, at the same time adopting their children’s modern and new ideas. This sentence has been marked as perfect! |
This is the recipe that is seen in many family companies that can thrive for decades. This sentence has been marked as perfect! |
4 What benefits are there when working for big companies? This sentence has been marked as perfect! |
Large companies can mean a great chance of promotion because they tend to have many higher positions available, and the means and resources to provide further training for their workers. Large companies can mean a great chance of promotion because they tend to have many higher positions available, a |
Also, it often takes a long time for a company to expand its scale, so big companies usually have a well-defined everyday process so that each employee can only have to complete their specific tasks and responsibilities. This sentence has been marked as perfect! |
Another advantage is that you will have a higher social status if you work in a large company. This sentence has been marked as perfect! |
For example, people tend to think more highly of those that work in big tech giants such as Google or Apple than those that work in the same position, but in unknown micro companies. This sentence has been marked as perfect! |
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