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A family in Hong Kong owns a retail clothing store. Two brothers work in the business, and their mother is the president of the company. Sibling rivalry becomes a problem. In addition to her role as president, the mother often finds herself playing the role of referee and "chief officer." emotions" when the two brothers fight. The constant rivalry between the siblings and the mother's need to intervene between them disrupts the normally functioning business. The family realizes that its business system is tied to the family system, but they are not sure what to do about it.
Based on the above scenario:
1. Explain what TWO (2) factors make a family business different.
2. If the president of the company wants to retire but does not want to hand over the company to his children, explain what steps can be taken to ensure that the company survives.
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