Which of the Following Statements About Using Available Family Talent

question 72

Multiple Choice

Which of the following statements about using available family talent in the succession plan is true?

• 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 or supplement family talent to avoid a decline in the business under the leadership of second- or third-generation family members.
• C) If a younger family member would like to advance his or her career by working on a new direction for the company, a negative decision by his or her parent means he or she should not discuss his or her ideas with the board of directors.
• D) It is rare a younger member will have the skill set to rescue a struggling company; therefore, younger members should not be considered for a succession plan.

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