A document that states the principles intended to guide a family business through times of crisis and change, including the succession process, is called the:

Question

Quizplus · Accepted Answer

A family business constitution, sometimes called a family charter, outlines the values, goals, and strategies for the family business. It provides a framework for decision-making in times of crisis or change, including the process of succession. The constitution can help the family and the business to navigate complex issues and maintain harmony and continuity in the face of challenges. Business plans, articles of incorporation, and corporate by-laws are all important documents for a family business, but they do not necessarily address the unique issues that arise when family dynamics intersect with business operations.

A Document That States the Principles Intended to Guide a Family