What is a family conglomerate (FC)?
Family conglomerate is a large multi-industry corporation which is highly diversified and privately-owned by its investors or people who has close relationship with the investors. Family Conglomerate usually engaged in entirely different businesses together into one corporate structure; control much economic activity and job employment in emerging markets. It also enjoys government support, extensive networks, access to capital, and market knowledge. For example in this case, Arcelik is a Turkish appliance manufacturer leading by Turkey’s largest and prestigious family conglomerate, the Koc Group. On the other hand, a public owned company is an enterprise that holds permission to offer its registered securities such as stock and bonds for sale to the general public, typically through a stock exchange. Usually, the securities of a publicly traded company are owned by many investors. For example in Malaysia, Air Asia Berhad is a publicly owned company which every citizen have the equality chance to purchase the share of the corporations based on the government and corporate’ rules and regulation. Family conglomerate plays a paramount role to provide job opportunities as most of them invest and build plants to develop and produce their product in order to fulfill the needs and desires for the market. When they open factories in a particular country, they need to hire employees who may help to conduct the machine and operations of the factory and consultants to deal with the local rules and regulations. This may enhance the local people to be employed and live a better live with the income they received. For instance, Arcelik, a Turkish appliance manufacturer leads by Turkey’s largest and influential family conglomerate expand its market to the international level which it built plants and 530 authorized service shops after sales in the 20th century. This definitely creates many job opportunities to the Germany’s nations....
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