Describe how the family business is either fostering its competitive advantage orhindering it, by its actions and decisions.

Kindly consider the family business as Linen / fabric / clothing company…1200 words essayThe FFB must incorporate the following elements within its construction: Use eitheryour imagination or your experience to1. Descriptively populate the three interlocking subsystems (Family, Ownership,Management); indicate which generation is presently leading2. Business description, size, market, business strategy(what are you currentlydoing, what’s next 3-5 years strategic planning), recent performance history3. Describe ownership’s highest priorities, i.e. what comes “first”. Family first?Ownership first or management/business first4. Describe how the family business is either fostering its competitive advantage orhindering it, by its actions and decisions. Situation analysis , inward reflection ..describes either it’s leveraging or strategy itself is hindering from taking on success .competitive advantages analysis:1. supplier we use , does it offer any advantage2. products we are doing, distributor taking too much margin? ..are we leveraging ITfor internal efficiency3. competitor/ unfair advantage —-performance related5. What are the relationship issues plaguing this family business, how are theyhindering progress, and what is being done about them6. Describe the ownership structure and the Owner’s Plan.ownership can be aroundthe family or based on external people .7. What is the Succession situation – describe the present ‘phase’ of the familybusiness8. What were the agenda, discussion and decisions made at the most recent FamilyCouncil meeting, Family office , family involved to avoid conflict andmisunderstanding…to discuss and agree family central issue9. What were the agenda, discussion and decisions made at the most recent boardmeeting.10. Describe the output of this family business’s parallel strategic planning processBonus points: describe future intrapreneurship or entrepreneurship opportunities forthe newest generation of the family business3 box solutions, system dynamics. actual planning within the organization ..The Final Report should “tell the story” of the family Business / Fictional BusinessCase- Justify each of the aspects above – where the data is missing- use assumptionsthat allow you to appreciate the dynamic.Some useful readingshttps://kmu.unisg.ch/en/forschung-und-publikationenhttps://www.mckinsey.com/search?q=family+business+succession+planning&start=1&sort=default&ignoreSpellingSuggestion=false