A Competency Is an Interrelated Cluster of Knowledge,skills,and Abilities Needed

question 113

True/False

A competency is an interrelated cluster of knowledge,skills,and abilities needed by an individual to be effective.

Acknowledge the factors contributing to small and family business successes.

Identify key reasons for new business failures and strategies to mitigate them.

Understand the implications of lack of experience, expertise, and commitment on business operations and success.

Recognize the importance of succession planning in family businesses and its challenges.

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Definitions:

Good Health

A state of complete physical, mental, and social well-being, not merely the absence of disease or infirmity.

Contemplation Phase

A stage of change in which an individual is considering making a change within the next six months, often characterized by ambivalence.

Precontemplation Phase

The stage in which an individual is not yet considering change or is unaware of the need to change a behavior.

Quit Smoking

The process of discontinuing tobacco smoking, which can significantly reduce risks to various health issues like cancer, heart disease, and respiratory problems.