Family Business Assessment Quiz
YES
NO
1. We have a clearly defined ownership and succession plan that is understood by all members of the family. What is the procedure based on disability or death of owner(s)?
2. Based on our business entity (sole proprietorship, partnership, corporation, etc.) we have multiple business meetings during the year to plan for the business.
3. Non-family members are involved in our regular business meetings.
4. All owners and/or family employees understand their roles in the business.
5. Business policies are understood by family and non-family employees.
6. Spouses and adult children of owners and family employees understand the policies of governing employment in the family business.
7. There is a review each year of each family employee's career development.
8. Compensation policies for family and non-family employees are clearly defined.
9. Past business conflicts have been adequately resolved.
10. Past family conflicts have been adequately resolved.
11. Family holiday gatherings are free from tension carry-over from the family business.
12. Family employees have regular performance appraisals.
13. A significant level of distrust exists among family members about the family business.
14. Our family leaders do not hesitate to ask outside help to resolve conflicts.
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