Key terms

1234567891011
Across
  1. 5. an organized group of family members who gather periodically to discuss family related business
  2. 8. a statement of principles intended to guide a family firm through times of crisis and change
  3. 10. couples who own and manage businesses
  4. 11. the exercise of reasonable care in the evaluation of a business opportunity
Down
  1. 1. an informal gathering of family members usually at a remote location
  2. 2. an organization in which either the individuals who established or acquired the firm or their descendants significantly influence the strategic decisions and life course of the firm
  3. 3. a business in third and subsequent generations when children of the siblings take ownership and management positions
  4. 4. a business in which children of the founder become owners and managers
  5. 6. a group of people bound by a shared history and a commitment to share a future together, while supporting the development and well-being of individual members
  6. 7. the practice of employing relatives
  7. 9. A venture operated by a founding entrepreneur.