To protect the interests of both the family and the business in a family business, the owner should
A) recognize a basic obligation to supply the family with jobs of some type.
B) refuse to hire family members but, instead, reward them with dividends.
C) keep management simple by personally making all personnel decisions affecting family members.
D) identify the positions, if any, that are reserved for members of the family.

Question

Quizplus · Accepted Answer

Identifying the positions that are reserved for members of the family helps maintain transparency and clarity in terms of job roles and responsibilities within the family business. This can help prevent conflicts and disputes related to job positions and promotions. Additionally, this allows for non-family members who are qualified for certain positions to also have opportunities for career advancement within the business.

To Protect the Interests of Both the Family and the Business