Concerning the Need for Good Management in the Family Business

question 59

Multiple Choice

Concerning the need for good management in the family business, which of the following is one of the "best practices" identified in the textbook?

• A) Resist preparing successors for leadership to avoid demoralizing those who are not selected.
• B) Maintain rigid guidelines based on family traditions to guide the company into the future.
• C) Emphasize the attraction and retention of family members.
• D) Stimulate new thinking and fresh strategic insights.

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Definitions:

Medical Record

A comprehensive document containing a patient's medical history and personal information.

Objective Statement

A concise and clear declaration of the goals or intent, often seen at the beginning of resumes.

Heart Rate

The number of heartbeats per unit of time, usually measured in beats per minute (bpm), indicating the rate at which the heart is working.

Elevated

A term often used to describe an increase or higher level of something, such as elevated body temperature, suggesting a fever or infection.