Bequeathing Equal Amounts of Ownership to All Heirs, Including Those

question 40

True/False

Bequeathing equal amounts of ownership to all heirs, including those outside the business, is obviously the fairest and probably the most efficient way to perpetuate a family firm.

---

Definitions:

Routinization

The process of making an activity or task regular or habitual, often by establishing a standardized procedure or routine.

Weber

Refers to Max Weber, a German sociologist, philosopher, and political economist whose ideas profoundly influenced social theory and social research.

Bureaucratic Religious Organization

A formal structure governing a religious institution, characterized by a hierarchical chain of command and a set of defined rules and procedures.

Denomination

Midway on the continuum between church and sect, a denomination does not seek to distance itself from the world, is bureaucratically organized, and generally maintains a tolerant relationship with other denominations.