Exam 18: The Family As Entrepreneur

Enterprising organizations pursue managerial methods that focus on maintaining the existing structure and on implementing incremental change.

Discuss why a financial mindset is more effective than an operational mindset.

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

Organizational strategy is only as effective as the leadership and relationships in the family and organization.

Enterprising families ________ the opportunity seeking processes in the mindset and methods of both their family ownership group and their business organizations.

Family corporate renewal primarily involves which of the following?

Family influenced startups are new businesses where the family ownership vision and/or leadership influence impacts the strategic intent,decision making,and financial goals of the company.

Most of the small and mid-sized family-owned businesses in the US are modest,'mom and pop' operations.

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

Which aspect of the Timmons Model is of particular significance with regard to family enterprising?

The job of families who desire to be enterprising is to determine how to generate and exploit their ________ familiness and to minimize or shed their ________ familiness.

The idiosyncratic bundle of resources and capabilities that an enterprising family can bring to bear on an opportunity is referred to as their ________.

The mindset continuum is primarily a measure of the ________ profile of the family owners-shareholders.

One of the primary roles families play is to provide family ________ to family members who want to start a business.

Family leaders who strive to turn their families into a team based upon the ________ philosophy overcome many of the negative caricatures often associated with family business leadership and empower the family and organization to be enterprising.

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

Family enterprising is the combination of a ________ ownership mindset and entrepreneurial strategic methods.

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

Define 'transgenerational entrepreneurship'.

Family ________ are pools of family capital that families use for entrepreneurial activities.