According to Peter Drucker, which of the following statements is true of managing a family business?
A) Mediocre performance by family members employed in the company may be tolerated.
B) The business should be aggressively managed.
C) The business should not hire outsiders as they contribute expertise the family might not have.
D) Someone outside the family and the business should help plan succession.
E) The business should "go public" as soon as possible.

Question

Quizplus · Accepted Answer

According to Peter Drucker, managing a family business requires proper succession planning to ensure long-term success. It is recommended to involve someone outside of the family and the business to manage the planning process. The other options are not recommended by Drucker.

According to Peter Drucker, Which of the Following Statements Is