Success of entrepreneurial ventures is often jeopardized by the death of the founder. Which of the following is an important strategy to minimize this problem?
A)conservative use of funds
B)succession planning
C)systematic recordkeeping
D)decreased delegation
E)going public

Question

Quizplus · Accepted Answer

Succession planning is the best choice to minimize the problem of the death of the founder. It involves identifying and developing potential successors who can continue the business after the founder's death. This ensures the continuity of the venture and prevents any disruptions in its operations. Conservative use of funds and systematic recordkeeping are important strategies for the long-term viability of the business, but they do not directly address the founder's death. Decreased delegation may hinder the growth and expansion of the business. Going public may provide access to additional capital and resources, but it does not address the problem of the founder's death.

Success of Entrepreneurial Ventures Is Often Jeopardized by the Death