Which of the Following Statements Is True About a Family

question 7

Multiple Choice

Which of the following statements is true about a family council?

• A) It helps to maximize communication in the succession process of family businesses.
• B) Its main function is complete the key business activities of a family business.
• C) It includes family members with immediate interests in the business and a significant number of non-family members.
• D) It is not a good forum for grappling with issues like role expectations,commitment,and personal responsibility.

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Definitions:

Unity of Direction

A principle that all members of an organization should work towards the same objectives in a coordinated manner.

Inventory Modelling

The mathematical method or system used to manage and optimize stock levels, costs, and supply chain operations.

Service Personnel

Employees or staff members who are directly involved in providing services to customers or clients.

Customer Waiting Time

The amount of time a customer waits before receiving a service or good.