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10 questions
It is an interaction between two sets of organization, family and business that establishes the basic character of the family business and defines uniqueness. This refers to
generational transfer
ownership management
family involvement
multiple conditions
An enterprise which in practice is controlled by the family members of a single family. It refers to
family involvement
generational transfer
multiple conditions
ownership management
•A company is considered a family business when it has been closely identified with at least 2 generations of a family and when this link has had a mutual influence on a company policy and on the interest and objectives of the family. It refers to
multiple conditions
ownership management
family involvement
generational transfer
A younger family member has or will assume control the business from an elder. It is refers to
generational transfer
multiple conditions
ownership management
family involvement
Some family businesses are reluctant to let outsiders into the top tier, and the result is that people are given jobs for which they lack the skills, education, or experience. This scenario refers to
nepotism
succession planning
family conflict
ingenuity
A strategy for identifying and developing future leaders in a company. This process refers to
nepotism
succession planning
All of the following are the CORRECT statement of advantages of family business, EXCEPT
TRUST AND AUTHENTICITY
FLEXIBILITY AND VERSATILITY
UNSTRUCTURED GOVERNANCE
REDUCING THE COMPANY COSTS
The following are the CORRECT statement of disadvantages of family business, EXCEPT
FAMILY CONFLICT
NEPOTISM
SUCCESSION PLANNING
THE SENSE OF BEING IN CONTROL OF THEIR DESTINY
The example of Samsung Group, whose chairman, Lee Kun-Hee, was forced to resign in 2008 after being indicted for tax evasion and criminal breach of trust charges. The case happened due to
FAMILY CONFLICT
UNSTRUCTURED GOVERNANCE
The family controlled firm or family ownership is the most common form of business organization in the world.
TRUE
FALSE
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