When a Son or Daughter Begins Working at the Family

question 7

Multiple Choice

When a son or daughter begins working at the family business full-time, he or she is in _____ of the process of succession.

• A) Stage I
• B) Stage II
• C) Stage III
• D) Stage IV

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Definitions:

Time Study

A work measurement technique for recording the times of performing a task to establish a standard time for the activity by direct observation and timing.

Labour Standard

Labour standard represents the amount of time required to perform a job or part of a job at a defined level of performance, often used in planning and evaluating labor efficiency.

Work Sampling

A statistical technique used to estimate how much time workers spend on various activities during their workday.

Disadvantages

Negative or less favorable aspects of a situation, plan, or product that may act as hurdles or drawbacks.