The Family Business Health Assessment

Quiz Questions

• 1.
  How clearly defined are the roles and responsibilities of family members within the business?

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  • A.
    Very Clear
  • B.
    Somewhat Clear
  • C.
    Unclear
• 2.
  Is there a formal governance structure in place, outlining decision-making processes and protocols?

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  • A.
    Yes
  • B.
    In Development
  • C.
    No
• 3.
  Are there regular family meetings to discuss both business and non-business matters?

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  • A.
    Regularly
  • B.
    Occasionally
  • C.
    Rarely/Never
• 4.
  How would you rate the overall communication within your family business?

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  • A.
    Excellent
  • B.
    Good
  • C.
    Needs Improvement
• 5.
  Are there established communication channels for conflict resolution within the family and the business?

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  • A.
    Yes, Clear Channels
  • B.
    Somewhat Clear Channels
  • C.
    No Clear Channels
• 6.
  Does your family business have a documented strategic plan for the next 3-5 years?

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  • A.
    Yes
  • B.
    In Progress
  • C.
    No
• 7.
  How often is the strategic plan reviewed and adjusted based on business and market conditions?

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  • A.
    Regularly
  • B.
    Occasionally
  • C.
    Rarely/Never
• 8.
  Is there a succession plan in place for the next generation to take over leadership roles?

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  • A.
    Yes, Clearly Defined
  • B.
    In Development
  • C.
    No Plan
• 9.
  How well-prepared do you feel the next generation is to assume leadership roles?

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  • A.
    Very Prepared
  • B.
    Somewhat Prepared
  • C.
    Not Prepared
• 10.
  Are there initiatives in place to support the professional development of family members involved in the business?

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  • A.
    Yes, Comprehensive
  • B.
    Some Initiatives
  • C.
    No Initiatives

Quiz Outcomes

• 1.
  Your Result: Thriving Family Business

  Congratulations! Your family business falls into the Thriving Family Business category. This indicates that you have a strong foundation in place and are well-positioned for continued success.While you're doing well, there's always room for growth. Watch this video from me, Tildet, to discover a few areas it's important to focus on!
• 2.
  Your Result: Stable Family Business
• 3.
  Your Result: Family Business in Need of Attention