Alexandoy
VIP Contributor
My first job after finishing a short course in computer programming was in a commercial bank. The chairman was the patriarch, the president was the son, some vice presidents are nephews and nieces. In other words, the bank is operated by a clan. In our culture it is common to see or hear of a family business that is run by the parents and children. But for a clan to handle the business is not really customary here.
From what I know as business guru is against such a setup because it is susceptible to friction among relatives. But the bank was doing good and I had experienced the promotion, the bonuses and even the profit-sharing when I was already a supervisor. However, there was a time that the bank was closed for technical reasons. But I know the real score that the president was using the resources of the bank for his own benefit. After many years the bank reopened and I was called. This time I was a bank officer. The chairman was the grandson of the original chairman. The brother of the chairman is a vice president. No other relative was there. It was better than the previous setup.
From what I know as business guru is against such a setup because it is susceptible to friction among relatives. But the bank was doing good and I had experienced the promotion, the bonuses and even the profit-sharing when I was already a supervisor. However, there was a time that the bank was closed for technical reasons. But I know the real score that the president was using the resources of the bank for his own benefit. After many years the bank reopened and I was called. This time I was a bank officer. The chairman was the grandson of the original chairman. The brother of the chairman is a vice president. No other relative was there. It was better than the previous setup.