The joint family system is a very old concept. In this system, the members of the family live together. The properties and land are commonly owned and they work together to fulfill their wants. At every stage and in every society of development we found some sort of family. As we will get different types of families all over the world.
Characteristics of Joint Family
1. Large in Size
The major characteristic of a joint family is that it is large in size. In this family, there are a minimum of four generations. Such as grandparents, parents, children, and grandchildren. Many nuclear families live together as one and constitute a joint family.
Co-operation is the important thing about a joint family. While performing family functions all the members cooperate with each other in the realization of their common objective. They also help each other when any one of them needs any help.
3. Joint Property
All immovable and movable property of the family is held jointly in this system. The head of the family acts as a trustee of the family property. He looks toward the material and spiritual welfare of the family members. The production, ownership, and consumption of property take place jointly. A family continues to remain joint unless and until its property is held jointly. That means a division of property means a division of the family.
4. Socialistic Ideals
Joint family based on socialistic ideals from each according to his necessity to each according to his capacity. The family is the basic unit and fundamental element of society by means of which disciplined forces of the socialist community are planned within the society.
5. Common Residence
All the members of a joint family live in a common residence. Thus this joint living creates a sense of unity between all the members of the family.
6. Similar Rights and Obligations
Except for the head, all the members of the joint family get similar rights and also show similar obligations towards each other. This thing keeps the joint family integrated. As a result, each member remains conscious of his rights and obligations.
The Functions of Joint Family
Here are the Functions of a Joint Family.
- Recreational functions
- Economic functions
- Protective functions.
Impact of Joint Family System on Business
The impact of the joint family system on business actually depends on the particular firm or business itself. As it’s totally up to the business whether they should consider it as a worry or not. All members of the family live together and this increase in the number of members will result in an increase in the population. This result will not create additional purchasing power, especially luxurious goods or products. All of these things can affect the sales department.