Family business constitutions are sometimes synonymous with _____ but the latter are usually more comprehensive.
A) business plans
B) by-laws
C) family protocols
D) succession plan

Question

Quizplus · Accepted Answer

While family business constitutions and family protocols both outline the governance and expectations within a family business, family protocols are typically more comprehensive and delve into more specific details and guidelines for family members within the business. Business plans and by-laws are different types of documents altogether, while a succession plan is a specific aspect that could be included in a family business constitution or family protocol.

Family Business Constitutions Are Sometimes Synonymous with _____ but the Latter