professionalism vs.

family entrepreneurs
PROFESSIONALISMVS.FAMILY ENTREPRENEURS :

PROFESSIONALISMVS.FAMILY ENTREPRENEURS PRESENTED BY: AJAY KUMAR

GUPTA

PROFESSIONALISM :

PROFESSIONALISM: Professionalism is actually the process by which given occupation

become professions in the sense of attaining professional status. OR The expertness
characteristic of a professional person.

ELEMENTS OF PROFESSIONALISM:

ELEMENTS OF PROFESSIONALISM ALTRUISTIC ACCOUNTABILITY EXELLENCE

HONESTY/INTEGRITY DUTIFUL RESPECT TO OTHER

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1.ALTRUISTIC: Showing unselfish concern for the welfare of others 2. ACCOUNTABILITY

Responsibility and Reliability

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3.EXELLENCE Knowledgeable Skilful Competency to retrieve and handle information

Appropriate decision making skills Competency in skills of communication

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4. Honesty/ Integrity The quality of being honest Moral soundness Undivided or Unbroken 5.
Dutiful Appreciation of the role Aptitude for personal development 6. Respect to others

Professionalism in Business : Professionalism in Business Health and Hygiene Personal

Image-First Impressions REALLY Count! Appearance and Dress Etiquette and Manners Always
use the magic words: PLEASE and THANK YOU Be on time Keep your promises Respect
people and be courteous Follow up with thank-you notes Return all phone calls Call ahead to
confirm appointments

FAMILY ENTREPRENEUR :

FAMILY ENTREPRENEUR A family entrepreneurship is defined in terms of: Ownership

control by members of a family Strategic influence of a family in the management of the firm
Concern for family relationship The dream of continuity across generation

PROFESSIOANLISM VS. FAMILY ENTREPRENEURS :

PROFESSIOANLISM VS. FAMILY ENTREPRENEURS 1. DEGREE OF OPEN

MINDEDNESS: Professional are open minded, receptive to new ideas, ready to experiment.
While family entrepreneurs generally lack this.

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2. NEW PRACTICES: Include Quality certification, Participative Mgmt., Change in working

style, financing pattern. Professional are always leaders in adopting them, experimenting with
them. While there is lack of this attitude in family entrepreneurs

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3. IMPARTIAL HRM: Professionals do not show partiality towards any particular gender. But
family business houses employ their relative or friends or people belonging to same social caste
in responsible position.

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4.ORGANIZATION ORIENTED FINANCIAL MANAGEMENT: Professionals tend to make

financial decision in the way which is best for the organization. But family entrepreneurial firms
give first priority to their familiar concern & interests.

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5.DECISION MAKING STYLE: The decision making process in professional run organization
tends to be qualitative better & vision to be broader. It is mostly participative. While in family
run businesses is more autocratic in nature. Here it is mostly owner entrepreneur himself or
herself who makes the decision sometimes with the help of his family members or friends.