In Order to Cope with the Daily Challenges of a Family-Owned

question 60

Multiple Choice

In order to cope with the daily challenges of a family-owned business, the family should:

• A) hire more relatives to work in the business.
• B) keep children out of the decision-making process.
• C) reduce time spent on home activities.
• D) develop an appropriate family mission statement.

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Definitions:

Omnichannel Strategy

An approach to sales and marketing that provides customers with a seamless shopping experience across all platforms, such as online, mobile, and brick-and-mortar.

Coupon Codes

Alphanumeric strings offered by retailers to consumers for a discount on purchases, typically entered at checkout on online shopping sites.

Smart Lock

An electromechanical lock designed to perform locking and unlocking operations when it receives such instructions from an authorized device using a wireless protocol.

Cellular Connection

A type of wireless communication link, used in mobile devices, that connects to the internet or other networks via a cellular network.