Ch 8

Question 1

What is essential for prosperity and survival in todays dynamic market place

Answer 1

Change and adaptation

Question 2

What needs to be “handled” that is critical for family firms w longer term business outlook

Answer 2

Change (handling change)

Question 3

Dealing with changes for family firms is often a

Answer 3

Challenging and pressing task

Question 4

Sense making is the process of

Answer 4

Creating meaning and understanding in family firms

Question 5

Entrepreneurial bridging is when mentoring occurs between

Answer 5

Successors and current incumbents

Question 6

Integration of potential in laws into the family in family firms

Answer 6

Strategic transition

Question 7

What creates longevity and survival in a traditional business w limited growth opportunities

Answer 7

Persistence

Question 8

Strategy of limiting the longevity of a venture in the hands of the family

Answer 8

Exiting

Question 9

Opportunity that creates value for all stakeholders of the firm

Answer 9

Attractive opportunity

Question 10

Emphasize changes and entrepreneurship for trans generational value creation

Answer 10

Upholding change