Family Members with an Obligation-Based Commitment May See Their Participation

question 70

True/False

Family members with an obligation-based commitment may see their participation in the family business as a birthright that provides great job security.

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Definitions:

Social Change

The alteration over time in societal structures and cultural norms and values, which can result from collective human actions, policies, or natural events.

Loosely Defined Norms

Social rules that are not strictly enforced or are vague in nature, often leading to varied interpretations.

Substantial Number

A phrase referring to a significant or considerable amount or quantity of something.

Collectivity

A term referring to a group or assembly of individuals who share common interests, values, or goals, acting together as a unified entity.