How Should an Owner Protect the Interests of Both the Family

question 26

Multiple Choice

How should an owner protect the interests of both the family and the business in a family business?

• A) Recognize a basic obligation to supply the family with jobs of some type.
• B) Refuse to hire family members but,instead,reward them with dividends.
• C) Simplify management by making all personnel decisions affecting family members.
• D) Arrange for hiring outsider leadership or supplements to family talent.

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Definitions:

New England Textile Industry

The region's pivotal industrial sector in the 19th century, known for its significant role in the American Industrial Revolution through the production of textiles.

Waltham System

A labor and production model employed during the early Industrial Revolution in the United States, particularly in Waltham, Massachusetts; it relied on the use of mill girls who lived in company-owned boardinghouses.

Worker's React

"Worker's React" typically refers to the responses or actions taken by workers in reaction to workplace conditions, policies, or economic changes.

Utopian Communities

Idealistic or visionary communities designed to achieve perfect societal harmony and happiness; often based on radical reforms or new social models.