CEPA Term Practice Questions and Answers (100% Pass)
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CEPA Term Practice Questions and Answers (100% Pass)
What is familiness? - Answer️️ -A unique bundle of resources resulting from the
interaction of family, individuals and business. Not genetically predetermined.
True or false, family businesses tend to outcompete non-family businesses? -
A...
CEPA Term Practice Questions and Answers (100% Pass)
What is familiness? - Answer✔️✔️-A unique bundle of resources resulting from the
interaction of family, individuals and business. Not genetically predetermined.
True or false, family businesses tend to outcompete non-family businesses? -
Answer✔️✔️-True
How do you address team challenges early in the process? - Answer✔️✔️-
•Education (owner and advisor)
•Chapter projects & community outreach
•Know the methodology...and your place in it
•Workshop demonstrating the holistic approach
•Speaking and writing builds credibility
•Website
•Happy Hours
How do you handle when a team already exists upon your arrival on scene? -
Answer✔️✔️-Team building upfront and buy-in on a holistic approach.
What makes an effective team (TCCAR)? - Answer✔️✔️-Trust
Reasons why advisors and professionals will not work well within a team include:
- Answer✔️✔️-A) Fear of being displaced
B) Fear of losing control or not being in control
C) Fear of losing their relationship with the owner
D) Lack of knowledge or experience
E) Creation of inner team politics
What is collaboration? - Answer✔️✔️-A cooperative arrangement where two or
more people, which may or may not have a previous relationship, work jointly
towards a common goal.
What two things do you need to the commitment of the members of your team? -
Answer✔️✔️-Clear organizing principle, and buy-in from all members to work
towards that goal.
What are the organizing principles of a CEPA team? - Answer✔️✔️-The three legs
of the stool - Personal, Business, Financial
Applied through the Value Acceleration Methodology™. Where we concentrate on
enterprise value while aligning personal and financial goals. Placing the business
owner and their family in the center. Collaboration amongst advisors. Operating
outside our silos.
What is the common goal of the team, no matter who is in the door first? -
Answer✔️✔️-Get the owner to the TRIGGERING EVENT!
What are 4 ways you can refocus the team to attentiveness: - Answer✔️✔️-- Set and
publish clear goals
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