The Nice Thing About a Family Business Is That There

question 64

True/False

The nice thing about a family business is that there is always a guaranteed successor within the family whenever the owner decides to step down.

---

Definitions:

Weak Hierarchy

An organizational structure where there are fewer levels of middle management between staff and executives, leading to a more flexible and less formal decision-making process.

Flexible Hierarchy

Flexible Hierarchy describes an organizational structure that allows for more fluid and adaptable roles and levels of authority, compared to traditional, rigid hierarchies.

Needs

Fundamental requirements or necessities for human beings to achieve a basic level of well-being, including physiological, safety, love/belonging, esteem, and self-actualization.

Need for Affiliation

An individual's desire to form connections and foster positive relationships with others.