A Family Business Has a Primary Benefit Which Is Derived

question 14

Multiple Choice

A family business has a primary benefit which is derived from the strength of family relationships.What is this benefit?

• A) The family business often gets special financial treatment from banks.
• B) Customers receive higher quality products from family run businesses.
• C) Suppliers tend to give better pricing to businesses run by family.
• D) Family members have a unique motivation because the firm is a family firm.

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Definitions:

Johari Window

A conceptual model used to improve understanding between individuals within a group by categorizing self-awareness into four quadrants: open, hidden, blind, and unknown.

Self-Understanding

The comprehensive awareness and insight into one's own character, feelings, motives, and desires.

Self-Disclosure

The act of revealing personal, private, or sensitive information about oneself to others.

Honest Communication

The practice of sharing information truthfully and openly without deceiving or withholding.