Take me back 2

-
Image
Continued from   Take me back              Just like that, my brain replays that crazy and wild night, back then before love ilinionesha shege kweli  kweli, nilikuwa na my then gal (Some how I'd forgotten all about her) , my Boyz and their women at a a certain club along Kiambu road, sikumbuki ni gani.  A couple of guys clearly drunk had bumped into my gal and her group while she was coming from the washrooms accompanied by her group (my Boyz women's). ( To this very day, I have never grasped why women go to the washrooms in groups),  After being told to watch where they are going by my gal, this guys, instead of apologizing, they became arrogant. They started raining vulgar insults on my gal and her group (my Boyz women's).  Mimi niko somewhere just sipping my drinks while observing the fruckus. I locked eyes with my gal at some point during my observation, saw all the balancing tears that were threatening to spill from her ey...
Post a Comment

Why family businesses collapse or go bankrupt.

-


I was chilling, reading up on an article where a popular retail chain with branches all over the country, was almost closing shop due to in-house wrangles by the family. 

Another retail chain also found itself in the same predicament some time back so it got me thinking, 

Why do family businesses 

collapse 

or 

go broke?

There are a number of different reasons that came up that I thought could be why family-owned businesses often find themselves collapsing and going bankrupt. 

Some of the most common causes include;


  • Poor succession planning
When a family business does not have a clear and well-defined succession plan, it can lead to conflict and confusion when the current owner retires or dies. This can lead to poor decision-making and a decline in the business's performance.
  • Lack of professional management
Family businesses often rely on family members to manage the business, even if they do not have the necessary skills or experience. 
This can lead to poor management and decision-making.
  • Nepotism
Nepotism is the practice of hiring and promoting family members based on their relationship to the owner, rather than their qualifications. 
This can lead to a need for more qualified employees in key positions, which can hurt the business's performance.
  • Conflict of interest
Family members who own and operate a business together often have competing interests. This can lead to conflict and disagreements, which can damage the business.
  • Financial mismanagement 
Family businesses can be susceptible to financial mismanagement, such as overspending, poor budgeting, and excessive debt. This can lead to financial problems that can force the business to close its doors.

Now the reasons have got us to another question, now that we know what causes the in-house wrangles in family-owned businesses, how do we reduce them, or the bigger question after that should be, how would you prevent the in-house fighting in your present or potential family-owned business to meet the same predicament?

Comments

  1. Innocent KinayaSeptember 28, 2023 at 6:09 AM

    Indian families mostly thrive in family businesses, i don't know how they crack it. They are one of the most prosperous

    ReplyDelete
  2. PrestablogsSeptember 28, 2023 at 6:44 AM

    That's a nice piece

    ReplyDelete
  3. AnonymousOctober 2, 2023 at 1:01 PM

    Insightful,hii inafaa kuwa a conversation 💯blog commenting to start conversations.

    ReplyDelete

Post a Comment

Is a pleasure to keep you as my reader entertained. Peace✌️

Popular posts from this blog

Death at a funeral, the interrogation.

-
Image
Continued from..   Death at a funeral I’m no wolverine who could heal quickly from a stab wound so I didn’t want to take my chances with the knife. As the rough and husky man directed me on where to go, I noticed it was like time had stood still, with chaos beautifully painted. I explored my choices on how to get out of this predicament, and boy! They didn’t look at all great, most of them all pointed to one end result, 6ft under. Except one, I was to act a fool. That is what I went with, to buy myself some time to figure how to get out of this ordeal and never have to look over my shoulder or be paranoid when I’m with someone’s daughter wondering, is she the means they have used to get to me?  Ever heard of the Samson and Delilah story? We reach at the car, at the very end of the field. A black Chevy, beautiful with a sleek paint job and design, and the door pops open. “Utleast you idiots have class,” is the last thing I say before I’m roughly shoved in, the rough and husky...
Continue...

Cloud 9 , what's next?

-
Image
Then she melted into the crowd. She took a while then nikacheki kuna dame yuko solo kwa corner nikasema nifike hivyo nimpee company. Huyo dame alinisho anaitwa Alicia.  Kuendelea kubonga nikarealize kumbe alikuwa anaogopa. Alikuwa ametag along na friend yake ndio asiboeke kwa hao akiwa pekee yake.  Nikamweka at ease na convo ingine fiti sana akanijenga no incase tupoteanwe tutafutana then we talked some more then Steph akatokea.  Akacheka then akaniita nimfuate. Madem na wivu bana  😂😂  Steph aliona ana compe.. Mimi huyo nikidhani Steph amepata plug wa sth sth iko na sweet aroma tufike cloud nine nayo.  Kufika to some secluded place anatoa some pills. Kumuuliza ni nini ananichapia ati molly. Akaextend mkono anipitishie nikakataa. “Shauri yako”   akasema then akameza.After a while niliona ameanza kuwa handsy.. “Huyu anataka ku unleash the beast”  Nilijiuliza kimoyomoyo.Kiasi kiasi nacheki mjamaa akikam ile corner tulikuwa. Nikajua baaas.. Huyu ni...
Continue...

Back to the basics.

-
Image
Nimeona picture kwa meme fulani, ikanipeleka tour down memory lane. Many moons ago, nikiwa primary. Nikitaja ilikuwa how many years ago, mtaniona ka mmoja wa wale wahenga mlikuwa mnaandika kwa kwa insha, ati, wahenga hawakupaka mafuta kwa mgongo wa chupa waliponena... 😅😅😅 Kulikuwa na hii stuff ilikuwa primary, ndio ukuwe unaongea kizungu, ulikuwa unakuwa punished psychologically ukiongea na mother tongue, kiswahili or the language of the streets, sheng. Except siku moja yenye mngekuwa exempted kuongea whichever language you fancy. Mental punishment depended on which time era you were in. For yours truly, ilikuwa kuvaa bling bling ya mfupa ingine kubwa. Yours truly, hajaanza kupiga story sahii, like B.I.G. nilikuwa notorious but upande wa kuongea. Hakuna siku nikiwahi kosa kwa list ya noisemakers, na siku sikuwa nimeongea labda nilikuwa mgonjwa. Most people walikuwa wana detest kuvaa hio bling bling, ju ya aibu ilikuwa associated with it, so msee alikuwa anakuwekea mtego, uongee tu l...
Continue...

Miss Anonymous 2

-
Image
  Continued from here-->>  Miss Anonymous Ju ya kuwa street smart kiasi tu, niliweza kutoka kuwa mgeni wa serikali bila kesi kuwa ngori. Vile natoka though, weeeh! Nanuka, niko mchafu, usingizi, kitu nataka ni kufika tu kejani nioge, nipite kwa mathe nikule, nilale. Nafika hivi ploti, watoto wa jirani wakinicheki wanahepa tu wakilia, kwani nakaa mnyama nini? Wamama wa ploti, najua wameshapata story mpya na mimi, but haidhuru, watabonga kisha watalala. Venye nimeshiba, napiga shower nitoe stench na misuli inyooke kidogo kisha nalala. Nastukia mlango inabishwa, kuangalia saa ni saa kumi na moja jioni. Weeh, nimelala kama maiti za pale Chiromo.😅 Kumbe ni arif yangu Timo, na venye nilikuwa nimejitayarisha na maneno nikidhani ni landlord. 😅😅 Namfungulia mlango aingie, but anaingia akiniuliza nimepotelea wapi, ati amekuwa akinitafuta siku kadhaa.  Nikienda kuona venye nitamjibu, ghafla bin vuu, simu inalia. Kuenda kucheki ni nani anapiga, nastukia ni ule Miss Anonymous...
Continue...