In a Family Business, the Absence of a Board of Directors

In a family business, the absence of a board of directors is______ .

A) a valuable way to oversee day-to-day activities, but not essential for improving company performance
B) not a problem because family members remain loyal to the business whatever happens
C) just as likely to result in problems as it would be in non-family business
D) less important that in a non-family business because of the sense of mission and legacy of the family
E) an important way of involving family members who are not managers within the company