Family Business

Topics: Family, Business ethics, Corporation Pages: 3 (894 words) Published: February 3, 2013
According to a study of European Commission, family business, which covers in different sectors with different sizes, makes up more than 60 percent of all European companies. In recent years, the number of family business is glooming all over the world. However, not many of them are successful in transferring into the third generation. There are many reasons leading to this situation. One of them can be raised from ethical aspects.

From the radio, a true story on a restaurant named Chad’s Trading Post raised an ethical aspect of family business which runs not only for profit but more importantly for memories of a son, a brother and a friend. His name is Chad. Chad, his brothers and his friends had a plan to open a new restaurant after graduating from high school. Unfortunately, Chad died in a shooting accident two days before his 16th birthday. His passing made everyone feel really depressed. However, the restaurant was operated after that seemed to become a spiritual gift that helped them recover. His family and his best friends decorated the restaurant with full of memories of him. A half of the menu that Chad designed was kept. His pictures were hanged on the wall. Everyone wore T-shirt with his name such as “Chad’s brother” or “Chad’s best friend”. They even had a tattoo of Chad’s name on their arms. The important thing is the customers did not feel a bad mood of people who lost a person they love. Instead, everyone always kept a happy and even funny atmosphere in the restaurant. Chad’s Post Trading, somehow, made a family business totally different from other kinds of business. It is not profit that is their priority, but their values and especially their love for Chad. His family and his friends felt freely contributed to this business and did not hesitate to have a long term commitment to the restaurant, which is not easy to get in other businesses.

Not only its own history and collective personality, there are also many other reasons that make...
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