Question 10 Nonfamily employees in a family business may be caught in the crossfire between feuding family members. Selected Answer:TrueAnswers: TrueFalse Question 11 A parent might attempt to resolve a transfer of ownership by giving active children in the firm’s management _____ stock and giving nonactive children _____ stock. Question 12
Mayer’s philosophy of never using debt to finance operations or expansion was born during the GreatDepression and passed on to his sons when they joined the family business. Today the multi-million dollar organization proudly follows Mayer’s practice under the leadership of Mayer’s great-grandsons and -daughters. This family’s commitment is based on: Question 13 When a parent retires completely and turns the firm over to a son or daughter, the firm ceases to be a family business. Question 14 Jan and Jill started a business 20 years. Jill recently stepped down; her daughter Jenny has agreed to start managing the company with Jan’s help; and the eventual goal is for Jenny to run the entire company. This process between Jan and Jenny is called ____. Selected Answer:c.
mentoringAnswers: a. sibling partnershipb. family consortiumc. mentoringd. Two of the above are true. Question 15 Kinder’s Deli has been in business for three generations. A place was found for every Kinder child to work in the shop. The name Kinder meant fine deli meats. This family’s commitment is based on:
Question 16 Bella decided to hire a nonfamily member as her successor instead of selecting one of her children. What might explain her decision?
You've reached the end of your free preview.
Want to read all 12 pages?
- Fall '13
- Business, Small Business Management, Bella, Eduardo