Small Business Management Study Set 2
Quiz 5: The Family Business
The Spouse of the Head of a Family Business May
The spouse of the head of a family business may serve the family firm by A) making impartial decisions on controversial business matters. B) filling the role of a company director. C) mediating family disputes. D) staying out of the business.
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In a 2007 study conducted by MassMutual Financial Group ___ percent of respondents said family members share the same values. A) 87% B) 73% C) 48% D) 65%
In-laws create complications in a family business A) rarely, since they only married into the family. B) only if they are employed in the firm. C) only if they are directly competing against another family member for a promotion. D) because the more family members become involved in the firm (even indirectly), the more difficult the fairness issue becomes.
A document that states the principles intended to guide a family firm through times of crisis and change, including the succession process is called the A) business plan B) articles of incorporation C) family business constitution D) corporate by-laws
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