Prevent disastrous transfer of power int business

Assignment Help Operation Management

Reference no: EM132233141

1. What should a small family owned business do to prevent a disastrous transfer of power int the business?

a. Name the successor based on who has the most potential for getting sales for the business

b. Plan early for this transfer and groom a successor

c. Hire a management team to form a committee and have the replacement determined by a list of criteria

d. Simply allow the oldest member of the family in the business be awarded the business

2. A partnership agreement should only be in writing if the business partnership includes individuals who are not friends or family members.

a. True

b. False

3. Some families form corporations and hire professional managers to run them when no family members are available. The disadvantages of this is might be:

a. The lost perception of the small business concept by the customers and the access they feel they lost not knowing the owner or manager of the business

b. Trusting outsiders to correctly run the small business

c. Passing the family on to another family member at a later time

d. Reduced family employment, lower income, concentration of power, difficulties in finding management and loss of the "personal touch"

e. All of the above

4. Design a DFD a) Level 0 b) Level 1 Diagram for an IT Help Desk Ticket System. The Ticket System is fully automated and the user can submit tickets with voice, text, and email. This will be a smart ticket system and also include error checking by the ticket system.

One of the following statements is incorrect. Which is it?

a. The Charter is owned by the Sponsor

b. The Charter is not part of the Project Plan

c. A Contract is the same as a Charter

d. The Project Manager often participates in writing the Charter

Reference no: EM132233141

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