A common problem for a founder in passing the business on to a daughter or son is:
A)introducing the child to outsiders such as bankers.
B)finding a suitable position for the son or daughter within the business.
C)arranging the transition from part-time to full-time employment.
D)deciding whether the child has the necessary temperament and ability.

Question

Quizplus · Accepted Answer

The biggest challenge for a founder in passing the business on to a child is determining if the child has the necessary temperament and ability to successfully run the business. This requires a frank assessment of the child's strengths and weaknesses and a consideration of whether they have the same level of commitment and passion for the business as the founder did. Without this evaluation, the transition of the business to the next generation may not be sustainable.

A Common Problem for a Founder in Passing the Business