Question 1 2 pts The Parallel Planning Process creates three decision screens in which possible strategy alternatives are subject to. The reflects the interaction of commitment between the family and management. O Strategic Fit Vision Fit Family Fit None of the above > Question 2 2 pts According to the author, the single most common shortcoming of the successor group is failure to fully understand the of the company. Core competence Business structure O Financial aspects Succession plan O All of the above > Question 3 2 pts Complexity is a measure of business development in a stage theory. A company that survives the early stages marked by simple structures usually begins to differentiate its structures in the later stages of development. This differentiating of structures is marked by all of the following except Centralized organizational processes Distinct functional units Growing layer of middle management Human resource systems Question 4 2 pts Balancing family and business interests can be a delegate process. To ensure that the family's interests are considered along with those of the business, a family business should develop O Business Strategy Plan Family Enterprise Continuity Plan Succession Plan O Strategic Commitment Plan > Question 5 2 pts Succession planning should be conducted when Potential successors(s) graduate from school The business owner is ready to retire The business is 5 years old O Potential successor(s) are still children O Never > Question 6 2 pts There may be many obstacles to family planning. Identifying these obstacles will enable the family to explore what planning means to stakeholders in the family enterprise and that process will stimulate ideas for actions to help overcome the obstacles. Which of the following suggested action steps is matched with the correct stakeholder? O Spouse; Create personal estate and financial plans Senior Generation; Engage in management development activities O Successors; Phase down involvement over time O Other stakeholders; Identify a future role that contributes to the firm