BBC Documentary Critique Assignment Example | Topics and Well Written Essays - 1000 words

BBC Documentary Critique - Assignment Example It claims that while making a decision, one is fooled to assume that they have full understanding of the circumstances that lead to their decisions, which, according to the documentary, could not be further from the truth. The documentary, therefore, primarily sets out to show its viewers how to be more rational and how to successfully cope through life’s greatest decision making points. The following is a brief critique of the documentary. In the first instance, there are a group of four young men composed of computer enthusiasts, engineers and rocket scientists who are reportedly brilliant and intelligent in their careers and education, but have all failed to land girlfriends. Garth Sundem comes in to utilize his carefully crafted math equations to solve this (deciding on a girlfriend) and other complex human problems (such as buying the right pair of shoes at the retail store). In every circumstance, Garth weighs intervening factors against each other and calculates each of the friends’ chances of landing their preferred dates at the bar (except for Levi who turns down the technique and opts to go in and pursue his choice without any prior knowledge of his chances) (BBC Horizon, 2009). Garth’s calculations fail, however, as even those who scored the lowest probabilities (41% and 43%) land their dates, but in the end, there is a valuable decision making tip accrued from the whole ordeal. We appreciate t he importance of analyzing a situation beforehand in correct decision making. This is proved by the fact that the ‘ignorant’ Levi was the only one who failed to land their date, as he later reckons that he should have analyzed things better before plunging in. this idea resonates with ideal good decision making strategies and management rules that advocate for proper analysis of a situation before making a rushed choice (Drucker & Maciariello, 2008). In the ensuing gambling

The accounting environment in the USA Essay Example | Topics and Well Written Essays - 1250 words

The accounting environment in the USA - Essay Example The amount of inventory in the warehouse of a company can decrease in value as prices of goods can go down in price due to market fluctuations. A good example of this phenomenon can be visualized in agricultural crops. These crops vary in price on a daily basis as their prices are traded in the open market as commodities. In any type of industry the market of value of inventory can vary and as a consequence it can distort the current assets account balance. Inventory is part of current assets. Accountants should always keep in mind the conservatism principle which states that when in doubt an accountant should choose the method that is less likely to overstate the assets or income of a company. The application of lower of cost or market is aligned with the conservatism constraint. Valuing inventory at lower of cost or market implies writing down inventory when the value of inventory is lower than its costs. There is a contra account in the balance sheet called Allowance to Reduce Inventory to LCM that is used to make the necessary adjustment. â€Å"This balance sheet account is used to report the amount that the inventory's market amount is below the inventory's cost amount†. The LCM method defines the market price of an item as the current replacement cost. An example of how to apply the method and its corresponding journal entry is illustrated below: Inventory value = $10000 Current replacement cost = $9500 $10000 – $9500 = $500 The $500 is considered a loss Journal Entry: Loss from Reducing Inventory to LCM $500 Allowance to Reduce Inventory to LCM $500 Capitalizing interest on building construction One of the characteristics of the construction industry is that projects take a long time to complete. Typically in business interest costs associ ated with financing any project are categorized as an expense. The Financial Accounting Standards Board (FASB) created a special rule for the construction industry that allows accountants to capitalize interest on construction project. FASB Statement No. 34 stipulates the guidelines that must be followed to calculate capitalization of interest in construction projects. It also states the disclosure requirements for capitalized interest in the financial statements of a company. The interest on any loan may only be capitalized while the construction occurs. There are certain criteria that must be met in order to be able to capitalize construction interest. The three criteria are: qualifying expenditures must already have been made activities to prepare assets for use must be in progress The firm must actually be paying interest (Young, 1994). At the moment that any of these three conditions seize to exist the company becomes ineligible to capitalize interest associated with constructi on projects. Any inventory used that is routinely manufactured or produced on a repetitive basis does not qualify for capitalization of interest if the inventory is purchased through debt (Young, 1994). Recording

INITIAL PUBLIC OFFERINGS Research Paper Example | Topics and Well Written Essays - 1250 words

INITIAL PUBLIC OFFERINGS - Research Paper Example AVG is a world leader in software development, threat detection, threat detection and risk analysis. The company also invests in research and development and collaborates with leading universities in order to maintain its technology edge (Company Profile, 2012). The company is currently contemplating to issue an IPO (initial public offering) so that it can expand its global market. The company has two options as to which type of IPO the company should use. The company may decide to either use the traditional IPO or use the online auction. In this research essay, I will discuss the two types of IPO issues and look into lessons learned from the module one case. The traditional approach to getting capital has usually been the way to go for most companies seeking equity. However, with the advent of the internet and technology some start-ups are choosing to do online auction in an effort to seek capital. Both types of IPO have have their pro and cons. I will start by analyzing the traditi onal IPO method before embarking on online auction analysis. As I had earlier mentioned that, the traditional IPO method is the most common way of getting capital. The traditional method has some advantages and disadvantages. Regardless of the type of IPO used, the company issuing an IPO usually has several benefits. First, the company increases it capitalization, net worth, liquidity and prestige. However, the company has to abide by the rules and regulations of the SEC (Security and Exchange Commission) which is the body that oversees the registration of public companies in the U.S. Companies going public are required to disclose their financial statements to the public. This may negatively affect the company’s perception especially during the bear market and this may decrease a company’s stock price, lower its liquidity and capitalization. In order to have a successful IPO, a company needs to attract investors. Enough investors who will create large levels of capita lization that exceeds the amount that had been privately invested. In the traditional approach, companies conducting the IPO pitch to investors on investing in to their companies on road shows. These road shows usually target institutional investors. Institutional investors play a huge role in influencing small investor participation. Therefore, underwriting firms usually offer institutional investors discounted stock prices as what is termed as pre-IPO rates. The courtship of large institutions is crucial to the success of IPO offerings because it facilitates the participation of other investors in the market. In addition, it guarantees that the underwriting company gets a good stock price, which will determine the future value of the company as well as determine the capital collected. As far as the cost of going public are concerned, the traditional approach may at times prove to be costly. First, the company has to disclose financial and business information to potential investor s. The disclosure might be costly to the company considering that there is always competition in business. Therefore, the disclosure of such information may provide valuable information to the competitors. Second, the traditional method of issuing IPO may take anywhere from six months to two years. A lot of time and effort is put towards gathering the relevant information and putting things together. This distraction slows down the day-to-day operations of the company and engages the senior management in focusing

Analysis of Young Goodman Brown Essay Example | Topics and Well Written Essays - 1000 words

Analysis of Young Goodman Brown - Essay Example Hawthorne skillfully uses irony, the depiction of madness, and symbolism, to heighten the effect of his story. â€Å"Young Goodman Brown,† is replete with irony. This irony is most obvious in Hawthorne’s characterizations of the people in his story. The author peoples his narrative with Puritans, whose outward words and behavior contradict their inner motives and covert actions. Young Goodman Brown himself is the foremost example of this. The protagonist deliberately sets out on his rendezvous with the Devil. He is eager to savor the evil pleasures that await him, and makes â€Å"haste on his present evil purpose† (Hawthorne, 8). He makes several empty protestations to the Devil, and declares his intentions to terminate his evil quest. However, he does not turn back: it is only talk: â€Å"â€Å"Too far! Too far!† exclaimed the goodman, unconsciously resuming his walk† (Hawthorne, 17). He remains â€Å"conscious of the guilty purpose that had broug ht him thither† (Hawthorne, 41), but continues to travel the path to perdition. Goody Cloyse, wears the guise of the â€Å"pious and exemplary dame, who had taught him his catechism in youth,† (Hawthorne, 26) but is a witch, complete with broomstick and evil incantations. Hawthorne’s irony makes him suggest, tongue-in-cheek, that her muttering is â€Å"a prayer, doubtless† (29). The supposedly holy minster, and â€Å"Good old Deacon Gookin† (Hawthorne, 61), are equally given to vice beneath the facade of saintliness. Hawthorne paints all Puritan society with its â€Å"grave, reputable, and pious people, these elders of the church, these chaste dames and dewy virgins† (57) in vivid colors of sin and dissolution. Even the hymn sung at the satanic gathering is cloaked in â€Å"the slow and mournful strain, such as the pious love, but joined to words which expressed all that our nature can conceive of sin, and darkly hinted at far more† (H awthorne, 59). This pervading irony makes the reader acutely conscious of the incongruity between the author’s depiction of his characters, and the impression they create as the narrative progresses. This irony is further strengthened by the calm ending of the story in the town, with the characters again displaying their saintly demeanors. Hawthorne’s use of irony is very effective in highlighting the hypocrisy of Puritan life. Hawthorne paints the character of young Goodman Brown with a bold touch of madness. The protagonist’s ring of defenses against the temptations of the Devil tumble down in quick succession: his forbears, â€Å"a race of honest men and good Christians since the days of the martyrs† (Hawthorne, 17) are close acquaintances of the devil; the dignitaries of New England, who Goodman Brown thinks are â€Å"a people of prayer, and good works to boot, and abide no such wickedness† Hawthorne, 19) are revealed to be sinners; the pious t rio of Goody Cloyse, the minster and Deacon Gookin are exposed in their true colors of wickedness. Finally, when his belief in his wife, Faith, is demolished, Goodman Brown’s moral foundations crumble, and he abandons himself to despair and madness. The author uses vivid imagery to describe this development. The paragraph depicting young Goodman Brow

Moral Philosophy Essay Example | Topics and Well Written Essays - 1000 words

Moral Philosophy - Essay Example Locke shows in Part V of the Second Treatise that in essence, the right to property springs from natural law, and is ordained in so many words by God himself. He begins by saying that all of the earth after all is given to men so that he may find in it his home and his sustenance, and in so far that he enjoys all the fruits of the earth without his interventions he shares all of the earth with his fellow men as common property. Then he goes on to say that be that as it may, the work of the hands of men in his own capacity is and the fruits of his own labors must be his own property. The distinction is that whatever it is that he fashions out of the common lot in nature, removed from that which nature provides in common with all other men, is his. This is the spring of the notion of property as it is envisioned by Locke. It is something inalienable to private persons in their own capacity, as something that is in the natural state of things too. It is the labor that he adds to the wor k that he undertakes on nature and its constituents that creates ownership and the notion of property.... On the other hand, by the same argument, whatever else that exceeds the needs of a particular man by his own labor, exceeding his enjoyment, is beyond his property, and this excess is therefore something that goes back in essence to the common realm, as the property of all. Whatever is in excess that can spoil, is beyond what man can enjoy, and is therefore beyond his own capacity to own. This is also according to Locke part and parcel of what he considers the self-evident bounds of one man's property (Locke). This is not a capitalistic notion, though it lends itself well to capitalistic lines of thinking, because in the main what Locke is saying is that there ought to be a limit to what a man can own beyond his needs, and that the bounds are there to make sure that man does not own anything beyond what he can cultivate presumably with his own labor. This applies too to the idea that there is enough to go around for everyone, if everyone works hard to secure his own needs and enjoyme nt with his own labors rather than the labors of others (Locke). Question 1 Machiavelli in Chapter 8 makes an example of the Sicilian known as Agathocles to say that although the man rose through the military ranks by his own cunning and skill, yet he is not someone who can be considered as possessing virtu. Yes he achieved his success without the help of anybody, and that in itself is admirable, but he did that by cunning and by betraying friends among others. He killed and he deceived, he had no mercy and no religion, and he had no faith. Machiavelli implies that the man of virtu achieves glory too, and Agathocles may have gained the world so to speak, but he falls short of virtu and his victory and success lacks

Health and Social Care Essay Example for Free

Health and Social Care Essay We acknowledge with sincere thanks the many people who gave generously of their time to help us with this work. We particularly appreciate the expertise and advice o? ered by Arnon Bentovim, Richard Velleman, Lorna Templeton, Carolyn Davies and Sheena Prentice. The work has been funded by the Department for Education and we thank sta? in the department, particularly Jenny Gray who supported us throughout the work with her interest and valuable comments. The work was assisted by an advisory group whose membership was: Isabella Craig and Jenny Gray (Department for Education); Christine Humphrey (Department of Health) and Sian Rees (NICE); Arnon Bentovim (consultant child and adolescent psychiatrist at the Great Ormond Street Hospital for Children and the Tavistock Clinic); Marian Brandon (reader in social work, University of East Anglia); Carolyn Davies  (research advisor, Institute of Education, University of London); Jo Fox (social work consultant, Child-Centred Practice); David Jones (consultant child and family psychiatrist, Department of Psychiatry; University of Oxford); Sue McGaw (specialist in learning disabilities, Cornwall Partnership Trust); Sheena Prentice (specialist midwife in substance misuse, Nottingham City PCT); Wendy Rose (The Open University); Lorna Templeton (manager of the Alcohol, Drugs and the Family Research Programme, University of Bath); and Richard Velleman (University of Bath and director of development and research, Avon and Wiltshire Mental Health Partnership NHS Trust). Introduction This second edition of Children’s Needs – Parenting Capacity provides an update on the impact of parental problems, such as substance misuse, domestic violence, learning disability and mental illness, on children’s welfare. Research, and in particular the biennial overview reports of serious case reviews (Brandon et al 2008; 2009; 2010), have continued to emphasise the importance of understanding and acting on concerns about children’s safety and welfare when living in households where these types of parental problems are present. Almost three quarters of the children in both this and the 2003-05 study had been living with past or current domestic violence and or parental mental ill health and or substance misuse – often in combination. (Brandon et al 2010, p. 112) These concerns were very similar to those that prompted the ? rst edition of this book, which was commissioned following the emergence of these themes from the Department of Health’s programme of child protection research studies (Department of Health 1995a). These studies had demonstrated that a high level of parental mental illness, problem alcohol and drug abuse and domestic violence were present in families of children who become involved in the child protection system. Research context The 2010 Government statistics for England demonstrate that, as in the 1990s, only a very small proportion of children referred to children’s social care become the subject of a child protection plan (Department for Education 2010b). However, the types of parental problems outlined above are not con? ned to families where a child is the subject of a child protection plan (Brandon et al. 2008, 2009, 2010; Rose and Barnes 2008). In many families children’s health and development are being a? ected by the di? culties their parents are experiencing. The ? ndings from research, however, suggest that services are not always forthcoming. Practically a quarter of referrals to children’s social care resulted in no action being taken (Cleaver and Walker with Meadows 2004). Lord Laming’s progress report (2009) also expressed concerns that referrals to children’s services from other professionals did not always lead to an initial assessment and that ‘much more needs to be done to ensure that the services are as e? ective as possible at working together to achieve positive outcomes for children’ (Lord Laming 2009, p. 9, paragraph 1. 1). Practitioners’ fear of failing to identify a child in need of protection is also a factor driving up the numbers of referrals to children’s social care services which result in no provision of help. ‘This is creating a skewed system that is paying so much attention to identifying cases of abuse 2 Children’s Needs – Parenting Capacity and neglect that it is draining time and resource away from families’ (Munro 2010, p. 6). Munro’s Interim Report (2011) draws attention once again to the highly traumatic experience for children and families who are drawn into the Child Protection system where maltreatment is not found, which leaves them with a fear of asking for help in the future. A ? nding which was identi? ed by earlier research on child protection (Cleaver and Freeman 1995). Evidence from the 1995 child protection research (Department of Health 1995a) indicated that when parents have problems of their own, these may adversely a? ect their capacity to respond to the needs of their children. For example, Cleaver and Freeman (1995) found in their study of suspected child abuse that in more than half of the cases, families were experiencing a number of problems including mental illness or learning disability, problem drinking and drug use, or domestic violence. A similar picture of the di? culties facing families who have been referred to children’s social care services emerges from more recent research (Cleaver and Walker with Meadows 2004). It is estimated that there are 120,000 families experiencing multiple problems, including poor mental health, alcohol and drug misuse, and domestic violence. ‘Over a third of these families have children subject to child protection procedures’ (Munro 2011, p. 30, paragraph 2. 30). Children’s services have the task of identifying children who may need additional services in order to improve their well-being as relating to their: (a) physical and mental health and emotional well-being; (b) protection from harm and neglect; (c) education, training and recreation; (d) the contribution made by them to society; and (e) social and economic well-being. (Section 10(2) of the Children Act 2004) The Common Assessment Framework (Children’s Workforce Development Council 2010) and the Assessment Framework (Department of Health et al. 2000) enable frontline professionals working with children to gain an holistic picture of the child’s world and identify more easily the di? culties children and families may be experiencing. Although research suggests that social workers (Cleaver et al. 2007) and health professionals are equipped to recognise and respond to indications that a child is being, or is likely to be, abused or neglected, there is less evidence in relation to teachers and the police (Daniel et al. 2009). The identi? cation of children’s needs may have improved, but understanding how parental mental illness, learning disabilities, substance misuse and domestic violence a? ect children and families still requires more attention. For example, a small in-depth study found less than half (46%) of the managers in children’s social care, health and the police rated as ‘good’ their understanding of the impact on children of parental substance misuse, although this rose to 61% in relation to the impact of domestic violence (Cleaver et al. 2007). The need for more training on assessing the likelihood of harm to children of parental drug and alcohol misuse.

Scenario Of Family Business Management Information Technology Essay

Scenario Of Family Business Management Information Technology Essay A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business overall well-being. In some countries, many of the largest publicly listed firms are family-owned. A firm is said to be family-owned if a person is the controlling shareholder; that is, a person (rather than a state, corporation, management trust, or mutual fund) can garner enough shares to assure at least 20% of the voting rights and the highest percentage of voting rights in comparison to other shareholders. Family businesses may have owners who are not family members. Family businesses may also be managed by individuals who are not members of the family. However, family members are often involved in the operations of their family business in some capacity and, in smaller companies, usually one or more family members are the senior officers and managers. Many businesses that are now public companies were family businesses. Family participation as managers and/or owners of a business can strengthen the company because family members are often loyal and dedicated to the family enterprise. However, family participation as managers and/or owners of a business can present unique problems because the dynamics of the family system and the dynamics of the business systems are often not in balance. PROBLEMS IN FAMILY BUSINESSMANAGEMENT The interests of a family member may not be aligned with the interest of the business. For example, if a family member wants to be president but is not as competent as a non-family member, the personal interest of the family member and the well being of the business may be in conflict. The interests of the entire family may not be balanced with the interests of their business. For example, if a family needs its business to distribute funds for living expenses and retirement but the business requires those to stay competitive, the interests of the entire family and the business are not aligned. Finally, the interest of one family member may not be aligned with another family member. For example, a family member who is an owner may want to sell the business to maximize their return, but a family member who is an owner and also a manager may want to keep the company because it represents their career and they want their children to have the opportunity to work in the business. . For example, if a family needs its business to distribute funds for living expenses and retirement but the business requires those to stay competitive, the interests of the entire family and the business are not aligned. Finally, the interest of one family member may not be aligned with another family member. For example, a family member who is an owner may want to sell the business to maximize their return, but a family member who is an owner and also a manager may want to keep the company because it represents their career and they want their children to have the opportunity to work in the business. SCENARIOS OF FAMILY BUSINESS MANAGEMENT But balancing competing interests often become difficult in three situations. The first situation is when the founder wants to change they are involved in the business. Usually the founder begins this transition by involving others to manage the business. Involving someone else to manage the company requires the founder to be more conscious and formal in balancing personal interests with the interests of the business because they can no longer do this alignment automatically-someone else is involved. The second situation is when more than one person owns the business and no single person has the power and support of the other owners to determine collective interests. For example, if a founder intends to transfer ownership in the family business to their four children, two of whom work in the business, how do they balance these unequal differences? The four siblings need a system to do this themselves when the founder is no longer involved. The third situation is when there are multiple owners and some or all of the owners are not in management. Given the situation above, there is a higher chance that the interests of the two sons not employed in the family business may be different than the interests of the two sons who are employed in the business. Their potential for differences does not mean that the interests cannot be aligned, it just means that there is a greater need for the four owners to have a system in place that differences can be identified and balanced. SUCCESS OF FAMILY BUSINESS MANAGEMENT Successfully balancing the differing interests of family members and/or the interests of one or more family members on the one hand and the interests of the business on the other hand require the people involved to have the competencies, character and commitment to do this work. Often family members can benefit from involving more than one professional advisor, each having the particular skill set needed by the family. Some of the skill sets that might be needed include communication, conflict resolution, family systems, finance, legal, accounting, insurance, investing, leadership development, management development, and strategic planning. INNOVATIVE TRENDS IN FAMILY BUSINESS MANAGEMENT . There are three major trends among the most innovative family business management that together will have a strong impact on wealth holders and the providers to these families: Develop new sources of knowledge. Family business continuously gather practical information from a wide variety of sources. As a result, much of the information these families receive comes from providers of products and services, who have a commercial motive. To further complicate matters, products and advice are often bundled together, with free services subsidized by the revenues generated from other components of the package. Unsurprisingly, the most complex and/or illiquid offerings tend to have the highest embedded costs. Family business management increasingly supplement these sources of information through peering communicating with each other to compare experiences and solutions.At its best, this is a global exercise in which family business actively seek to learn from their peers around the world. Leading families recognize that local networks must be supplemented to ensure that they access more than a location-specific consensus shared by those who, for example, live in the same place, share the same social network, or rely upon the same sources of information. Unbundle, measure, and innovate. The most sophisticated family business recognize that products, platforms, and advice, are fundamentally distinct. They are creating customized solutions from select providers in each category, rather than accepting a bundled offering from a single source. This unbundling allows for more accurate measurement of the value provided by each component. This in turn allows family business management to see new areas of opportunity and to swap out only the individual components that are not working according to specific performance criteria. While trust remains paramount, the foundation of trust is shifting to be based on competence and track record rather than simply a personal relationship. The most enduring relationships are being built upon informed trust, which requires a clear understanding of the way a providers business works. Family business are increasingly focused on measuring inputs and outputs. This means that they are paying closer attention to the transaction costs of interm ediation and actively seeking to calibrate economic incentives to better align costs with value. This requires a nuanced understanding of the inner workings of products and services so that meaningful benchmarks and cross-comparisons can be established. The most sophisticated families consider both absolute and relative value, using peer-based benchmarks as an input to their evaluations. Pursue opportunities globally. The inputs that family business use to create their solutions increasingly come from all over the world, not just their home countries. This trend is a direct result of the two trends described above. Family business have both the means and the incentives to invest in understanding foreign markets and practices. The empirical case for doing so is strong, particularly when local knowledge can be applied to less efficient markets. In addition to globalizing their portfolios, family business increasingly seek opportunities from direct investments. Family business are pursuing returns through country-specific direct investments, such as real estate or private equity, which require a greater level of due diligence and commitment (and offer greater potential rewards). These investments are often made in partnership with other sophisticated private investors who have relevant expertise in co-direct investment or club investing arrangements. The pervasive changes underway in the family busin ess market reinforce each other. Increased knowledge leads to better analysis of a wider set of opportunities, and this allows investors to unbundle and measure, so that they can be more creative in devising comprehensive, global solutions. The more innovation that occurs in the market as a result of this creativity, the greater the additional knowledge creation and sharing.While the effects of this shift are now being felt. STRUCTURING OF FAMILY BUSINESS MANAGEMENT When the family business is basically owned and operated by one person, that person usually does the necessary balancing automatically. For example, the founder may decide the business needs to build a new plant and take less money out of the business for a period so the business can accumulate cash needed to expand. In making this decision, the founder is balancing his personal interests (taking cash out) with the needs of the business (expansion). ORGANIZATIONAL STRUCTURE Organizational structure defines the roles and activities required of people in order to meet the objectives of the business. The structure should also help people accomplish their own career and personal goals. Concern with motivation and communication should influence the organizational structure. In defining an organizational structure, the manager has four objectives in mind: (1)- division of tasks, (2)- coordination of efforts and tasks among people and enterprises, (3)- control over the way in which tasks are performed and (4)- flow of information. To accomplish these four objectives, the manager must decide the positions to be filled and the duties, responsibilities and authority attached to each position. PRINCIPLES AND CONCEPTS OF ORGANIZING Regardless of the specific characteristics of a horticultural business, some principles of organizing will be helpful. These principles have two uses. First, they are helpful in the actual design of the organizational structure. Second, they can serve as a check list for evaluating and improving the current organizational structure. EXCEPTION PRINCIPLE Someone must be available to handle the exceptions to the usual, i.e., someone must be in charge. When an employee or worker has a problem he or she can not handle, the organizational structure should provide for someone higher in the organization to provide assistance. DECENTRALIZATION Decisions should be pushed down to the lowest level possible in the organization. The more routine a decision, the lower the level in the organization where it should be handled. To illustrate, workers waiting each morning to be told what to do and where to do it can be a great waste of manager and worker time. Workers having a routine not requiring daily instruction, and workers being trained to handle with confidence decisions within their job descriptions illustrate decentralization. The objective is to overcome the waste of time stemming from too much centralization of decision making. Working managers rather than managed workers should be the goal. PARITY PRINCIPLE Decentralization requires delegation. With delegation comes responsibility. Authority should be delegated along with responsibility. To illustrate, assume the 18 year old son of the owner of a landscape firm has been given the responsibility of taking a crew of 3 people, each over 25 years old, to a landscaping site to plant 5 trees and 30 bushes. Further assume that the son has no authority to decide how hard it has to be raining before the crew stops working, no authority to correct a person who is digging the holes for the trees and bushes too deep and no authority to reward the crew member who is doing by far the best job. It is easy for the 3 workers to ignore the son if they have been accustomed to taking orders only from the owner and the owner has given the workers no indication of what authority the son does and does not have. SPAN OF CONTROL The span of control is the number of people a manager supervises. The organizational decision to be made is the number of subordinates a manager can effectively lead. The typical guideline is a span of control of no more than 5-6 people. However, a larger span of control is possible depending on the complexity, variety and proximity of jobs. The ability, experience and style of the manager also affects the desirable span of control. Finally, worker characteristics should affect the span of control. Well trained, motivated, experienced and satisfied workers require relatively little supervision. Owner/operators of family businesses often have span of control problems because of a me attitude. As a family business grows and people are added, the manager still may want everyone reporting to her rather than delegate responsibility and authority to a middle manager. UNITY PRINCIPLE Ideally, no one in an organization reports to more than one supervisor. Having more than one supervisor causes an employee relatively few problems if the supervisors have good coordination and frequent communication. However, supervisors typically lack the time for the necessary coordination and communication. Too often, employees get conflicting instructions and assignments. Employees should not have to decide which of their supervisors to make unhappy because of the impossibility of following all the instructions given them. OWNERSHIP STRUCTURE There is no one family or ownership structure; it have family businesses that are owned by one sole owner. When it comes to the second generation, most of them turn into a sibling partnership with very few but strong owners who hold large shares in the company. In the next generation, it come to a cousin federation and maybe one day we are a family dynasty like Haniel or Wendel. Each stage has its own problems. It must understand the stage you are at, asking the right questions and giving the right answers relevant to that stage. The transition from one stage to another creates a crisis because, in the next generation, you have different questions and you have to give different answers. If you understand that there is a crisis and find the right answers, this crisis may create a chance. Owner strategy starts, like every strategy, with some simple key questions: what is our vision, what is the mission statement we have as owner family. More specific questions for owner families include the following: who can become a member of the owner group. From whom can member groups inherit their shares  and to whom can they sell shares? How do we want to deal with in-laws and the next generation Emotions must be dealt with effectively when managing a family business and managing a family that owns a business. Successful families are families who are better at addressing emotional problems and then solving them. Values and aims must be clarified if any group wants to be successful. This helps prevent conflict when making decisions. Knowing the company goals and the family aims is important otherwise, a family cannot determine whether it is successful or not. In successful family businesses, strategies will change, but the values remain very stable over generations. BUSINESS STRUCTURE This is the business model follow. It often starts with the entrepreneurial stage and then it turns to a traditional and classical family business. There are several different business models and each family should address some essential questions when choosing the correct one. Do we want to be a more focused or more diversified owner family? How do we want to influence the business? Do we want to run it or just control it? Do we want only to act as owners and let outside people control it? How should we manage the owner family so that we maintain family unity and commitment? New Ideas We must formulate a family code that is sensitive to new membership values, aims and a changing business model. Family Education All the owners should know what it means to own a family business, and what  professional ownership means. Emotion-Added Value It is important to come together and have family days so that you have the chance to enjoy being a member of the group. Family Office You may want to start a family office and do family philanthropy together. FUNDS AND INVESTMENT STRUCTURE With a dedicated funds, investment and tax team, including lawyers with corporate, tax and trust experience, we are able to provide the targeted investment structuring advice on which family offices depend. leading investment managers and fund managers, to ensure that private investments are designed and structured to mitigate taxation and provide the greatest opportunity for returns. LEGAL RISK STRUCTURE Risks from many directions, including legal liability, risk of investment loss or devaluation, compliance failure, tax and property law change, security (this includes risks to property and person) family dissension, divorce and indiscretion. The mitigation and balancing of risk in all its forms is of paramount importance for many family business management. Wealthy families and family members are faced with many legal and investment challenges, and increasing regulatory scrutiny. These issues become more acute in the case of multi-generational families with members based in various countries who have international asset holdings Another key risk for clients is breach of confidentiality, especially in a world where the Internet means information anywhere is information everywhere.. It is possible to reduce such risks by the use of appropriate structuring and third party contracts but these measures should be taken when the office is established. If a breach occurs our Reputation Management team can help. . These include the offices of substantial international families with assets and family members in numerous countries, as well as more traditional families with large landed estates or entrepreneurial interests. Theses point should be consider: Conducting an audit of various substantial wealth-holding structures, to ensure they were watertight from a fiduciary and tax perspective. Undertaking a major review of the trust and asset structures of a large international family with international assets. One of the main purposes was to identify potential areas of risk for the family and take measures to safeguard against such risks going forward. CONCLUSION To conclude , we can say that this was the aforesaid explained report on innovative family business. Main facts that are dicussed in study are 1 meaning of family business management 2 current scenario 3 Type of structure for family business management 4 problems 5 innovative trends in family business management After studying all the above given study it is been very clearly understood that family business structure is one of the very common structure of business structure that is been used worldwide. As every business structure has its scenario, advantages , disadvantages, problems, and its new and emerging trends, it is similarly applied here. We can say that family business management is a trend that has been followed for years. Innovative method could be used for more flexibility in family business. RECOMMENDATIONS 1 overcome the internal dispute 2 proper engagement of all members 3 follow the structure that is bet suited to ones business 4 proper management 5 go as by the time. 6 properly implementing the strategy BIBLIOGRAPHY AND REFRENCES http//www.family-business-experts.com http//www.familybusinessmagzine.com http//www.businessweek.com/magazine.com Astrachan, J. and Shanker, M. (2003). Family Businesses Contribution to the U.S. Economy: A Closer Look. Family Business Review, Vol. 16, No. 3, pp. 211-219. Colli, A. (2003). The History of Family Business, 1850 2000. Economic History Society. Chua, J., Chrisman, J., and Sharma, P. (1999). Defining the Family Business by Behavior. Entrepreneurship Theory and Practice Vol. 23, No. 4, pp. 19-39. Davis, J., Pitts, E., and Cormier, K. (1997). Challenges Facing the Family Companies .