Reflection Paper 5 – Susan Frasson

Evelin Izaguirre
MGMT 2500
March 26, 2023
What is different about family firms in comparison to other kinds of firms?

In a family firm, even employees who aren’t family are typically treated like family.
They will generally cultivate longer working expectations with their non-family employees and
work harder to make a climate of safety and local area. You won’t find family firms in that frame
of mind of the line when cutbacks are declared. In a family firms, most members own shares of
the company, while on other kind of firms’ employees work under an employment contract, and
they do not own any shares of the firm. Family members on a family firm their attitudes,
behaviour, and decision-making in the workplace, in their social networks, and with one another
are influenced by their multiple roles and historical relationships with one another. Family firms
regularly are more propelled and have longer-term arranging skylines, are longer existing and
show more noteworthy inclusion with their nearby networks than nonfamily organizations and
will quite often be more creative.