| The best time to gain experience in business | | | | decisions are taken due to influence from a certain |
| management is when you make mistakes. But this | | | | individuals of high status. Business management |
| should not be an excuse to keep repeating them. | | | | boards need to be independent to make decisions |
| Once a mistake has occurred, mangers and business | | | | even without meeting for the benefit of the |
| owners need to learn from it and thus become | | | | company. |
| better business administrators and ensure proper | | | | Most of the businesses that are affected with this |
| business operations. | | | | are institutions that are run by family members. It |
| I think it is the high time things changed in the way | | | | sometimes turns out to be difficult when it comes to |
| we run our companies. Having a board of directors is | | | | handling change in management since family members |
| a noble thing but the sad part is that some of the | | | | may not be qualified enough to run the company. |
| members are not qualified to seat in such | | | | The best business approach for family owned |
| management boards. I believe that a management | | | | organizations is to early enough prepare to hand over |
| board should be composed of highly qualified and high | | | | the ruins to the next generation. They need to put |
| performing individuals. In addition, these members | | | | structures that will ensure that the right people get |
| should have no inclination to certain names or fall | | | | the right position whether they are family members |
| prey of being influenced by particular people. | | | | or not. This is because to have smooth business |
| By doing this companies will avoid a situation where | | | | operation you need the best. |