Who wants to be a family business

professional?

Question #1

What is the definition of Shared beliefs

The concepts of shared beliefs, meanings, and sense-making have all been used to describe aspects of organizational culture.

Individuals within an organization must share a certain level of cultural beliefs and values if a group is to function coherently.

Langfield-Smith holds that collective encounters are necessary for developing and maintaining the shared beliefs that lead to collective action.

And the right answer is…

Question #2

The iterative model for collective action?

Answer:

Systems outcomes

Family meetings as collective encounters

Collective cognitions

Collective action

Question #3

What is the strategic management process

The basic strategic management processes for both family and non-family firms is similar in the sense that a strategy, whether implicit or explicit, must be formulated, implemented, and controlled in the context of a set of goals.

Question #4

What are goals and objectives of strategic management process?

A family business is more likely to have multiple, complex, and changing goals rather than a singular, simple, and constant goal.

answer:

Question #5

What are succession issues of family business?

The factors can contribute to the effectiveness of ownership continuity or change, power and asset distribution, and the firm’s role in society.

Timing of succession Making sure that the next generation is

both interested in joining the family business and capable of managing it.

choose the successor

answer:

Question #6

What is the main point of strategy implementation?

Corporate governance Family business culture Inclusion of family members Intergenerational issues Sibling rivalry Organizational structure, evolution and

change

Answer:

Thank you for your attention!