A Limitation of a Small Family-Owned Business Is That a Family

question 2

Multiple Choice

A limitation of a small family-owned business is that a family manager may:

• A) refuse to hire family members who want to enter the business.
• B) lack general management skills, being proficient in a specific activity.
• C) ignore top family members when a matter needs to be cleared.
• D) guard against letting past successes lead to trying to maintain the status quo.

Recognize the importance of providing reasons and explanations in a respectful and understanding manner.

Know the best practices for structuring the explanation section of a negative message.

Distinguish between effective and ineffective ways to conclude negative messages.

Understand the use of the direct and indirect approach in delivering negative information.

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Definitions:

Functional Strategy

A strategy that guides activities within one specific area of operations.

Customers

Individuals or organizations that purchase goods or services from a business.

Industry

A group of companies or organizations that produce and provide similar products or services, often categorized within a sector of the economy.

Competitive Advantage

A unique attribute or set of attributes that enables a company to outperform its competitors.