Why Is Management Succession a Problem for Family-Owned Businesses

question 48

Multiple Choice

Why is management succession a problem for family-owned businesses?

• A) Employees may dislike the chosen successor.
• B) Children may choose their own successor.
• C) Potential candidates may be groomed too early.
• D) There is a defined hierarchy for decision-making.

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Definitions:

Low Demand

Pertains to situations where there is little desire or requirement for a product, service, or action, often leading to decreased value or priority.

Saying No

The act of refusing or declining a request or demand, often as a means of setting boundaries or prioritizing one's own needs and limitations.

Heparin

An anticoagulant medication used to prevent and treat blood clots by increasing the time it takes blood to clot.

Fibrinogen

A plasma protein produced by the liver, crucial for blood clotting, converted to fibrin in the clotting process.