Nepotism is the practice of favoritism based on kinship, like when the coach chooses his own kid to be the quarterback even if his kid stinks at football.
The word nepotism comes from the Italian word for nephew, nepote. Apparently back in the 17th century a lot of people tended to promote their nephews to powerful positions at the expense of other candidates. Nepotism has come to mean favoritism of any family member, so if you’re the daughter of a powerful CEO, don’t worry, you can still be the beneficiary of nepotism. However, people might not like you when you become the Vice President, unless you’ve really earned the title.