Which of the following statements is true of a family business?
A)It is generally run by and for the benefit of a particular family.
B)It gives no importance for human resource management in the business.
C)It seldom takes rational decisions for the benefit of the business.
D)It eliminates issues of discrimination if the firm is large.

Question

Quizplus · Accepted Answer

A family business is generally owned, managed and run by a particular family or group of families. The primary objective for the business is to benefit the family members and ensure their financial well-being. Family businesses often involve emotional connections, which can both positively and negatively impact the functioning of the business.

Which of the Following Statements Is True of a Family