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CEPA Term Flashcards - Session 5 Questions and Answers $10.49   Add to cart

Exam (elaborations)

CEPA Term Flashcards - Session 5 Questions and Answers

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  • Course
  • CEPA
  • Institution
  • CEPA

What is familiness? o :## 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? o :## True How do you address team challenges early in the proce...

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  • September 2, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CEPA
  • CEPA
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MASTER01
2024/2025 1|Page




CEPA Term Flashcards - Session 5 Questions and
Answers
What is familiness?

o :## 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?

o :## True




How do you address team challenges early in the process?

o :## •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?

o :## Team building upfront and buy-in on a holistic approach.




What makes an effective team (TCCAR)?

, 2024/2025 2|Page


o :## Trust

Conflict (Resolution)

Commitment

Accountability

Results




Reasons why advisors and professionals will not work well within a team include:

o :## 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?

o :## 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?

o :## Clear organizing principle, and buy-in from all members to work towards

that goal.




What are the organizing principles of a CEPA team?

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