Explain the concept of family and business overlap in a family business.
What will be an ideal response?
Although the family and the business are separate institutions (each with its own members, goals, and values), they overlap in the family firm.?Families and businesses exist for fundamentally different reasons. The family's primary function is the care and nurturing of family members, while the business is concerned with the production and distribution of goods and services. Family goals include the personal development of each member and the creation of equal opportunities and rewards for each member; the main business goal is to create value for the customer and firm's owners.?Since relationships among family members in a business are more sensitive than relationships among unrelated employees, competing interests can complicate the management process. Tension that is created may sometimes lead to conflict, requiring management to act as managers and not as someone's parent or child.
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Name five items that would be considered critical success factors by most world-class companies. Why is each of these factors so important to organizational longevity?
In performance management, ______ are considered the actions taken by an individual.
A. results B. behaviors C. motivations D. traits
In the portfolio matrix, a__________is in a low-growth market, but the product has a dominant market share; it is an SBU that generates more money than it needs to maintain its market share
Fill in the blanks with correct word.
________, one of the seven dimensions used by researchers to define a website interface, refers to the overall layout, design, and aesthetic appeal of a site.
A. Community B. Context C. Commerce D. Customization E. Content