Define the essential qualities of a successful family business
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12.1 Learning Outcomes:
- Explain the factors necessary for a strong family business
- Understand the exit strategy options available to an entrepreneur
- Discuss the stages of management succession
- Explain how to develop an effective management succession plan.
- Understand the four risk management strategies.
- Discuss the basics of insurance for small business.
12.2 Action Required:
- Watch the short video at the following link:
https://www.youtube.com/watch?v=33Mpj7AVcBQ
12.3 Test your Knowledge (Question):
- Define the essential qualities of a successful family business.?
12.4 Instructions
- Answer the question available in the “Test your Knowledge” section.
Post your answer in the discussion board using the discussion link below
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