Sibling Partnerships in Family Business - Dissertation Example

The paper “Sibling Partnerships in Family Business” is an excellent example business dissertation. The transition of the family business to the next generation results in the formation of sibling partnerships. Successful sibling partnership in family business requires proper guidance, effort, and preparation by all the members in the family business. A lot of complications and challenges may arise during the stage of sibling partnership, which can be handled by effective management and decision-making of the family members.

The preceding generation works together with the succeeding generation in order to sort out these challenges and plan for the upcoming changes. The main purpose of this research paper is to identify the key factors that lead to the successful transition of family businesses, the formation of sibling partnerships,s and what are the potential challenges that can be faced during this phase.An enhanced inter-personal relationship among the family members and sharing of the common business purpose are the main factors that lead to the successful transition of the family business to the next generation.

Effective communication, collaboration, identification of individual roles and responsibilities, efficient leadership and management, optimism about the business success and strategically resolve all the conflicts can be considered as the keys to the successful functioning of the sibling partnership business.The qualitative research method is followed to collect data about the topic and analysis is done through an inductive approach. An interview conducted with two business families and an extensive literature review about this topic helps in answering the research questions and achieving the research objectives. 1.0 Introduction1.

1 BackgroundSibling relationships within a family are an important factor that contributes to the emotional and social development of children. It has been found that siblings tend to shape each other’s lives and get prepared for future experiences within and outside the family (Oliva and Arranz, 2005). During childhood, siblings learn crucial aspects of life-related to sharing, compromise, and competition. This learning is an outcome of interaction and growing up together.