In order for family-managed businesses to survive and prosper, management guru Peter Drucker advised them to
A) refrain from having someone outside the family help plan succession.
B) discontinue hiring outsiders as they are more objective.
C) fill at least one key position with a nonfamily member.
D) offer initial public stock offerings as soon as possible.
E) tolerate mediocre performance by family members.

Question

Quizplus · Accepted Answer

Peter Drucker advised family-managed businesses to fill at least one key position with a nonfamily member in order to bring in fresh perspectives and objective viewpoints. This can also help avoid nepotism and favoritism, and ensure that the most qualified person is in the position.

In Order for Family-Managed Businesses to Survive and Prosper, Management