In Order for Family-Managed Businesses to Survive and Prosper, Management

question 4

Multiple Choice

In order for family-managed businesses to survive and prosper, management guru Peter Drucker advised them to

• A) refrain from having someone outside the family help plan succession.
• B) discontinue hiring outsiders as they are more objective.
• C) fill at least one key position with a nonfamily member.
• D) offer initial public stock offerings as soon as possible.
• E) tolerate mediocre performance by family members.

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Definitions:

Cyanobacteria

Photosynthetic microorganisms, also known as blue-green algae, that are key players in nitrogen fixation and oxygen production in various ecosystems.

Lichens

Symbiotic associations between a fungus and a photosynthetic partner, typically an alga or cyanobacterium, living together in a mutualistic relationship.

Horizontal Gene Transfer

The movement of genetic material between unicellular and/or multicellular organisms other than by the "vertical" transmission of DNA from parent to offspring.

Transformation

Taking up of extraneous genetic material from the environment by bacteria.