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MNE2601 Assignment 3 (ANSWERS) Semester 2 2023 - GUARANTEED DISTINCTION DUE DATE 31st AUGUST 2023.
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  • Grado
  • Introduction to Entrepreneurship and Small Business Management
  • Institución
  • University Of South Africa

MNE2601 Assignment 3 (ANSWERS) Semester 2 2023 - GUARANTEED DISTINCTION DUE DATE 31st AUGUST 2023. +068 FOR MORE ASSISTANCE. QUESTION 1. In your own words, give a definition of a family business. (1) A family business is a type of business where ownership and control are held by members of ...

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  • 25 de agosto de 2023
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  • 2023/2024
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  • mne2601 assignment 3 answers semester 2 2023 g

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  • University of South Africa
  • Introduction to Entrepreneurship and Small Business Management
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MNE2601 Assignment 3
(ANSWERS) Semester 2 2023 -
GUARANTEED DISTINCTION
st
DUE DATE 31 AUGUST 2023.

WHATSAPP +254740539068 FOR MORE ASSISTANCE.


QUESTION 1.

In your own words, give a definition of a family business. (1)

A family business is a type of business where ownership and control are held by members of
the same family. It is characterized by the involvement of multiple family members in the
management and decision-making processes. Family businesses can range from small, local
enterprises to large multinational corporations. The key distinguishing feature of a family
business is the presence of both family and business dynamics, which can influence the way the
business operates. Family businesses often have unique strengths, such as strong family values,
long-term commitment, and a sense of tradition, but they can also face challenges related to
family dynamics, succession planning, and balancing personal and professional relationships.




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