Graeter’s current management team bought the businessfrom their parents, who did not have a formal succession plan in place to indicate who would do what. Do youthink the current team should have such a plan specifyingwho is to step into the business, when, and with whatresponsibilities? Why or why not?
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Graeter’s current management team bought the business
from their parents, who did not have a formal succession plan in place to indicate who would do what. Do you
think the current team should have such a plan specifying
who is to step into the business, when, and with what
responsibilities? Why or why not?
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- Explain giving more explanation The 15 significance of succession planning in a company boardGraeter’s current management team bought the business from their parents, who did not have a formal succession plan in place to indicate who would do what. Do you think the current team should have such a plan specifying who is to step into the business, when, and with what responsibilities? Why or why not?FAMILY BUSINESS DYNAMICS Thomas Sages looked stern and preoccupied upon his return from the funeral of his friend David’s wife, Laura. When David died a few years earlier, the shock was great for Thomas, and this new loss revived the wound. David had been Thomas’ closest friend since they were young; he also was his business associate – contributing 10% of the business equity when Thomas started the expansion of his supermarket chain. And the ties were further strengthened when David and Laura’s son married Thomas’ daughter. As Thomas’ thoughts wandered, he found himself thinking about the future of the business he had so successfully built. Two of his children worked in the business, and he felt rather comfortable with their ability to lead it forward – even though he had occasional disagreements with them about new developments. His concern, revived by the funeral, was more about the transfer of his ownership stake. He had written a will many years ago, and he thought that he should…
- Siblings, Julie and Derek want to start their own clothing line. They have each invested $5,000. They have decided that Julie is better with money and will manage the business’s finances. Derek is the creative sibling and will be designing the apparel. what are the risks? what business entity would you form and why?Wegmans has always been managed by members of theWegman family. Do you think the company could continueits winning ways if the next generation doesn’t want to take chaPter 7 Management Roles, Functions, and Skills 213over, forcing the company to hire someone from outsidethe family as CEO? Explain your answerThe Founder 1) Even though drive-in restaurants were already popular in America in the 1950’s, they were not as successful as the fast food restaurant owned by the MacDonald brothers. List three reasons for this lack of success. 2) What production techniques did the Mac Donald brothers apply in their business to differentiate themselves from other similar restaurants? 3) Why were the MacDonald brothers reluctant to expand their business?What are the common disadvantages of business expansion? 4) Why did the rich franchise owners fail in their business? 5) What did Ray Kroc want to do to lower the costs? Why did the MacDonald brothers refuse to do it? 6) What did Harry Sonneborn, the financial expert, advise Ray Kroc to do tomake more profit? 7) What happened to the MacDonald brothers at the end of the film? Why? 8) Which adjectives would you use to define: a) Ray Kroc b) Mac and Dick MacDonald 9) Do you think that Ray Kroc is a good entrepreneur? Justify. 10) In…
- Mr Abdullah has a small business. Because of several reasons, he could not expand his business. Now he invited his friend Mr Ayman into the business and he invested a big amount. Now they are doing the business together. Based on this scenario, which of the following forms of business did they start? O a. Limited liability company O b. None of the options O. Partnership business O d. Sole proprietorship businessSamia's interior decorating business has grown since she opened it by herself three years ago. Now she has another decorator who shares in the managerial decision- making and profits, as well as six decorators who share in the basic workload. Samia has restructured her company to reflect these changes and only these changes. What kind of company does Samia have now? O a. A limited partnership O b. A limited liability partnership O c. A sole proprietorship O d. A general partnershipwhich reasons are the primary drivers of Lafarge-Holcim merger strategy?
- Complete the following table with either a yes or no regarding the attributes belonging to a sole proprietorship, partnership, corporation, or limited liability company (LLC). Attribute Present 1. Is a separate legal entity. 2. Is allowed to be owned by one person only. 3. Owner or owners are personally liable for debts of the business. 4. Is subject to an additional business income tax 5. Has an unlimited life Proprietorship Yes No Partnership Yes No Corporation Yes Yes Yes Yes LLCwhat is the company background of Jollibee?Johnny and Ash have not yet incorporated their new company. However, each has already invested $50 000 into the business by depositing the money into Johnny’s business account. Johnny is negotiating the purchase of a small factory in his own name, and is purchasing the equipment and materials he will need to start manufacturing Organicola. Ash has also started spending 2 or 3 hours every evening writing a business plan and a marketing plan. (1) Have Johnny and Ash formed a partnership? If so, what are the legal consequences?