Bill is the paternal head of his family as well as the family enterprise.He is concerned about the business and wants to ensure its survival for the long run.You,as a consultant,advise him to focus on ______.

Question

Quizplus · Accepted Answer

Passing on an entrepreneurial mindset to his family members would be the best choice as it ensures the continuity of the business by involving the family members in its operations and instilling a sense of ownership and responsibility in them. Selling the company or establishing a trust may not guarantee its long-term survival, and while a detailed business plan is important, it alone cannot ensure the success and continuity of the business.

Bill Is the Paternal Head of His Family as Well