|
Fam Biz Quiz Author Leslie Dashew |
Leslie Dashew is
the managing partner of the Aspen Family Business Group, LLC and the Human Side of Enterprise, LLC. She is the author or co-author of several books regarding family business. |
|
|
|
Greetings!
Are you an expert in family business communication?
Family Business Wiki is pleased to introduce Fam Biz Quiz™ -- a series of brief quizzes on selected family business topics. You can use these quizzes to "test your knowledge," and you can also use them as a starting point for discussion and learning within your own family business.
The "best" answer for each question is indicated at the bottom of this newsletter, but the other answers are also pretty good -- that's what makes it a challenging quiz! A full explanation of the questions and all alternative answers is provided on the Family Business Wiki Facebook page. Please feel free to add your comments and perspectives!
Each Fam Biz Quiz™ will be written by a well-known family business expert. Family Business Wiki extends its appreciation to Leslie Dashew for serving as the author for this first Fam Biz Quiz™ -- on Communication in the Family Business. |
 | Question #1: Mother Wants No Quarrels | |
Your mother interrupts you every time you try to talk, and tries to keep everyone from getting into quarrels. What should you do?
A. The next time that it happens, tell your mother that you are an adult and it is time that your opinions are heard.
B. Discuss the situation with your father and ask him to speak with her about it.
C. Raise difficult issues only when she is not around.
D. Help your family to establish "ground rules" for discussion. |
| Question #2: Brother Keeps You in the Dark | |
You are an owner of the business but do not work in the business, and your brother doesn't think you need to know anything about what is going on. What should you do?
A. Tell him that he should treat you like an owner, not like a sibling.
B. Discuss with your family how to put in place legitimate structures which assure that communication happens for all roles in the family business.
C. Talk to your other siblings who are owners, and create a "coalition" to address the issue with your brother.
D. Tell your brother that if he cannot be a better communicator with you as an owner, that you would like to discuss options for liquidating your shares.
|
| Question #3: Nonexistent Business Discussions | |
You see each other every day at work and don't want to talk about business at night, but important subjects never get addressed. What should you do?
A. Set aside time in the evening to discuss critical issues.
B. Schedule "off-sites" every month to discuss important issues.
C. Set aside a two hour block at least every other week for "strategic discussions". Plan the topics in advance, so participants can prepare, and if tactical issues arise in the meeting, keep a list of them but remain focused on the strategic issue being discussed.
D. Address these critical issues in the board meetings.
|
| Question #4: Just Give Me a Chance | |
Your father asked you to join the business and promised that you would become his successor. However, he doesn't let you give any input into the decisions that are being made and he isn't giving you a chance to be involved in the important meetings. He just wants you to "plow the fields" and wait till it's your turn to lead. But you are getting frustrated! What should you do?
A. Just give up and go to work somewhere else.
B. Talk to your mother about it and see if she can talk some sense into him.
C. Meet with your accountant and ask him to help you discuss this with your father with more objectivity.
D. Write your father a letter explaining your hopes to learn from him and your need to have some chances to "practice" while he's still around to advise you. This may create an opening for direct dialogue.
|
| Question #5: Between a Rock and a Hard Place | |
You are the CFO in a family business, but you are not a member of the family. You supervise one of the kids in the younger generation. You are supposed to "groom her" for future leadership, but you are afraid to give her feedback because you fear you'll lose your job. What should you do?
A. Just avoid saying anything controversial and hopefully everything will be ok.
B. Be honest, and start keeping your eyes open for another job, just in case.
C. Sit down with your boss and his daughter and talk about your fears and see if they really want you to coach her honestly.
D. Try giving some mild "constructive feedback" and see what happens.
|
| Question #6: When Family Distracts from the Business | |
You are the president of the company. Your sisters, who own shares but are not active in the business, complain to you about family tension related to the business. What should you do?
A. Create a family council so you can get more of the family involved in the "business of the family" and it isn't all left to you to get everyone together.
B. Tell your sisters that you are very busy running the business, and ask them to handle the family tension.
C. Ask your sisters where they see the problems, and then directly speak with the family members who are creating family tension.
D. Family tension is really not your responsibility. The business comes first and demands your full attention.
|
| BEST ANSWERS | |
1-D
2-B
3-D
4-D
5-C
6-A
|
|
We'd like to hear what you think of the newsletter and the Wiki. Let us know the good, the not so good, and everything in between. Click here to help us do our job better! | |
|
