Chipper, the only grandchild of the founder of a successful commercial construction firm, is taking a year's research fellowship to study tiger genetics. Family members have held the top management positions in the firm since 1911. Chipper's father, the present CEO, is 72 and is ill. Which of the following statements reflects an incorrect perception to this situation?
A) This business has a succession problem.
B) Years ago, this firm should have focused on attracting and retaining outsiders with key capabilities.
C) This situation is not unusual for a family firm.
D) It is time for Chipper to get serious and take over the family firm.
Correct Answer:
Verified
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