Which Statement Is True Concerning Using Available Family Talent in the Succession

question 61

Multiple Choice

Which statement is true concerning using available family talent in the succession plan?

• A)Younger family members working in the business should realize that mistakes early on in their careers should be considered in their future advancement.
• B)If the available talent is not sufficient inside the company,the owner must bring in outside leadership even if it is not perceived as a favorable decision by the family at large.
• C)If a younger family member would like to advance their career by working on a new direction for the company,a negative decision by their parent means they should not discuss their ideas with the board of directors.
• D)It is rare a younger member will have the skill set to rescue a struggling company;therefore they should not be considered for a succession plan.

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Definitions:

Weekly Progress

The advancement or development towards a goal measured over the span of a week.

Motivation

the psychological force that drives an individual to take action towards achieving a goal.

Group Development

The process through which a group progresses over time, typically moving through stages of forming, storming, norming, performing, and adjourning.

Variable Factors

Elements or conditions that can change and affect the outcome of a situation or research.