In a start-up situation, it is common to find an owner that is:

• A Non-active
  Incorrect. The right answer is B.
• B The CEO, CFO and HR person
  Correct!
• C An Operational Manager
  Incorrect. The right answer is B.

Non-active owners will still be involved with which aspects of the business?

• A ROI
  Correct!
• B Hiring
  Incorrect. The right answer is A.
• C Operations
  Incorrect. The right answer is A.

A business owner who is not a manager in the business is considered to be working:

• A In the business
  Incorrect. The right answer is B.
• B On the Business
  Correct!
• C Both in and on the business
  Incorrect. The right answer is B.

Shareholders agreements and Family Constitutions are useful tools for management in the family business when:

• A New family members enter the ownership circle
  Correct!
• B The board of directors is being established
  Incorrect. The right answer is A.
• C Conflicts relating to the dividends occur
  Incorrect. The right answer is A.

In the “professional” stage, there is a need for more formality, more written agreements and more accountability because:

• A It is a new business
  Incorrect. The right answer is C.
• B The business is expanding
  Incorrect. The right answer is C.
• C There is multigenerational ownership
  Correct!

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