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Difference between family business and nonfamily business

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Reference no: EM132919181

1. What is the difference between family business and nonfamily business? Describe the different stages in Glopac Chemicals development from 1980-2005 and compare how this might have looked with a nonfamily business.

2. What are some agency problems that family business owners usually face when they operate a business? Did Andy Makmur face any agency problems? What were they?

3. What is the significance of Andys son John starting at the lowest rank when he first joined Glopac?

4. What would you do if you were in Andy Makmurs shoes in deciding whether to sell his shares and retire or take over the firm with his childrens help? If you were a consultant, what would you recommend that Andy Makmur do, and why?

Reference no: EM132919181

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