Discuss the Initial Meetings with the Family Business Client

question 11

Essay

Discuss the initial meetings with the family business client. Include key questions and strategies for the OD
consultant to prepare for a successful intervention.

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Definitions:

Accounting Flexibility

The range of choices that management has under GAAP (Generally Accepted Accounting Principles) in how to report financial activity.

Contract Constraints

Limitations or conditions in a contract that restrict the actions of the parties involved.

Bonus Benefits

Additional compensations above the regular remuneration package, often tied to performance or specific achievements.

Discretionary Spending

Expenditure over which a government or business has control and is not mandated by laws, such as research and development or advertising expenses.