family's preparedness and effectiveness
The following quiz is designed to evaluate the preparedness and effectiveness of
your family business. The topics covered here are critical to family business success.
Your answers will determine your rating. This test is intended for your private
use only. Your answers are completely confidential-in fact, neither your individual
responses nor your score will be recorded.
To take the quiz, please answer by selecting 1 (very negative) through 5 (very positive).
Answers of 1 and 2 indicate that your family needs to give this topic more attention
and discussion. Answers of 4 and 5 indicate this subject is well discussed and understood
among members of your family.
To assure the greatest accuracy of your self assessment,
be sure to answer all of the questions.
1. We have an ownership plan.
1
2
3
4
5
2. The ownership plan is well known within our family.
1
2
3
4
5
3. We have unanimity among our family members about the value of a board
of directors.
1
2
3
4
5
4. There is a clear understanding among us in our family business shareholders
about our roles as owners, employees, and family members.
1
2
3
4
5
5. There's a clear understanding in our business about business policies
and direction.
1
2
3
4
5
6. There's clarity in our family business about family leadership.
1
2
3
4
5
7. Each family member working in the family business understands the expectations
for career and leadership development.
1
2
3
4
5
8. Family members understand the compensation system and are in agreement
with it.
1
2
3
4
5
9. Decision making in our family business is clear to all.
1
2
3
4
5
10. Balancing career and business expectations with personal and family expectations
are clear in our family business.
1
2
3
4
5
11. Family communication styles are effective in our family business.
1
2
3
4
5
12. Our family business adequately handles both family and business conflict.
1
2
3
4
5
13. Fairness is well understood in our family business.
1
2
3
4
5
14. Our family business operates under a well-developed business plan that
is communicated throughout the company.
1
2
3
4
5
15. Family rituals and get-togethers are never a source of conflict in our
family.
1
2
3
4
5
16. Members of our family openly express appreciation, recognition, and love.
1
2
3
4
5
17. Fairness and equitability are openly discussed in our family.
1
2
3
4
5
18. Our family shares a common family vision.
1
2
3
4
5
19. Each member of our family has an individual vision.
1
2
3
4
5
20. There is a clear understanding in our family business between the senior
and younger generations about management and leadership succession and we are in
agreement about it.
1
2
3
4
5
21. The role of in-laws is clearly understood in our family business.
1
2
3
4
5
22. Family members know and understand their gifts and are able to utilize
them in the family business.
1
2
3
4
5
23. Family leaders in our family business promote a culture of change and
innovation.
1
2
3
4
5
24. In our family business women are encouraged to be full participants.
1
2
3
4
5
25. Past conflicts are forgiven in our family and family business.
1
2
3
4
5
26. Our family has a commitment to lifelong learning and the development
of its members.
1
2
3
4
5
27. Family gatherings are fun to attend and participate in.
1
2
3
4
5
28. A successful family business has three types of meetings that include:
shareholder and governance, regular business meetings, and family meetings. Our
family has all three.
1
2
3
4
5
29. Family members who work in the company have regular performance appraisals.
1
2
3
4
5
30. Our family business has a family participation and family protocol plan
that governs entrance into and participation in the family business.
1
2
3
4
5
SECTION 2: Communication and Management of Differences
Communication plays such an important role in well balanced family businesses, it
merited its own section of the quiz. As in the first section, please answer by selecting
1 (very negative) through 5 (very positive). Answers of 1 and 2 indicate that your
family needs to improve in this area. Answers of 4 and 5 indicate this area is well
practiced among members of your family.
To assure the greatest accuracy of your self
assessment, be sure to answer all of the questions.
1. Family members are able to articulate their feelings and wants.
1
2
3
4
5
2. Family members are effective listeners.
1
2
3
4
5
3. Family members treat each other with respect.
1
2
3
4
5
4. Family members are able to discuss sensitive issues.
1
2
3
4
5
5. Family members manage conflict and differences well.
1
2
3
4
5
6. Family members manage their reactivity well.
1
2
3
4
5
7. Our family and family business have good problem solving skills.
1
2
3
4
5
8. We have a win-win rather than a win-lose style of managing differences.
1
2
3
4
5
9. We are able to communicate effectively on sensitive issues.
1
2
3
4
5
10. We have authentic communication.
1
2
3
4
5
11. Our family encourages self-responsibility.
1
2
3
4
5
12. We have truthfulness in our family.
1
2
3
4
5
13. Our family has predictability.
1
2
3
4
5
14. Our family has trust.
1
2
3
4
5
15. Our family has optimism.
1
2
3
4
5
16. Our family has emotional support.
1
2
3
4
5
17. Our family has esteem support- specific and exact praise.
1
2
3
4
5
18. Our family has network support- belonging.
1
2
3
4
5
19. Our family has appraisal support- honest feedback.
1
2
3
4
5
20. Our family has altruistic support- being involved in service and giving
to other people.
1
2
3
4
5
