Exam 17: The Family As Entrepreneur

Family corporate renewal occurs where the family's entrepreneurial activity is focused on _____.

Enterprising families focus on maintaining their local advantage,safeguarding their brands,assets,and customers,or on honing their operational efficiencies.

In family enterprising,"team" encompasses the family ownership group as well as the family and nonfamily entrepreneurial capabilities.

Family corporate venturing primarily involves _____.

Which aspect of the Timmons Model is of particular significance in the context of family enterprising?

The familiarity of a family can make it very easy to challenge assumptions and talk about differing views.

On what should an enterprising family's strategic thinking and planning be based?

Families have the natural potential to destroy relationship capital more ruthlessly than any other social group.

Studies indicate that family-influenced companies consistently outperform nonfamily businesses on annual shareholder return,return on assets,and both annual revenue and income growth.

When entrepreneurial processes are institutionalized through governance structures and policies,this promotes growth and change activities.

Enterprising families _____ the opportunity-seeking processes in the mind-set and methods of both their family ownership group and their business organizations.

Research shows that most often family cash investments are given based on formal investment criteria rather than on altruistic family sentiments.

Discuss why a financial mind-set is more effective than an operational mind-set.

As enterprise refers to economic activity,_____ is the action of generating new economic activity and building long-term value across generations.

What are the six dimensions for family enterprising?

Define enterprising.

The family _____ category occurs when an existing family company or group starts new businesses.

A transgenerational commitment requires families to perpetuate the "great leader" model in successive generations.

Most of the small and midsized family-owned businesses in the U.S.are modest and typical mom-and-pop operations.

Formal governance structures and policies create significant ambiguity in families and thus constrain enterprising.