A Common Problem for a Founder in Passing the Business

question 54

Multiple Choice

A common problem for a founder in passing the business on to a daughter or son is:

• A)introducing the child to outsiders such as bankers.
• B)finding a suitable position for the son or daughter within the business.
• C)arranging the transition from part-time to full-time employment.
• D)deciding whether the child has the necessary temperament and ability.

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Definitions:

Collective Socialization

The process through which individuals learn and adopt the norms, values, behaviors, and skills necessary for functioning within a particular society or group.

Objective Outcomes

are measurable and observable results obtained from a process, project, or activity that can be verified independently.

Subjective Outcomes

Results or consequences that are based on personal feelings, tastes, or opinions.

Socialization Tactic

Methods or strategies employed to acclimate new members to the social and cultural norms of an organization or group.