Assignment task: From Family Business e3 by Ernesto J. Poza
Q1. What unique advantage does strategic planning offer the family-owned business?
Q2. What role should the company's board of directors and family shareholders play in acknowledging the threat and leading the efforts for adaptation?
Q3. What are the biggest challenges to nonfamily management retention and motivation?
Q4. What are the primary sources of value creation available for family businesses to develop their very own business model or establish their sources of competitive advantage?
Q5. What does the concept of fair market value refer to?
Q6. Why are nonfamily managers critical to the survival and continuity of the family business?
Q7. Why is a mature family-owned business, one often facing the prospect of succession, so vulnerable to decline and failure?
Q8. Why is strategic thinking and strategic planning so often avoided in family-owned companies?
Q9. Why is financial literacy so important among family business owners?
Q10. Why value a private family business?