Few-family businesses

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Practice Listening: Multiple Choice, Multiple Answers ID: #36507 Short Few-family businesses

Instructions ›

Listen to the recording and answer the question by selecting all the correct responses. You will need to select more than one response.

Transcript:

Family businesses, large and small, are vital to the US economy. However, few family-owned businesses make it to the third or fourth generation of family ownership. CK Mondavi and Family have been successful because of its excellent quality, great value and family heritage. It's also a family wine business remains committed to remaining family-owned even after almost seventy-five years. Today, the third, and now fourth generation family members are now at the helm of this US wine legacy, leading this wine brand into the future. CK Mondavi and Family wines are a tradition that has been in our family for four generations, says fourth generation Riana Mondavi. "Passion has kept our family business going and I can say for all of us in this next generation, we are extremely humbled to carry on a wine legacy that was started by our great grandparents so long ago. We are also wholeheartedly committed to continuing the Mondavi family tradition for generations to come.

How family businesses are important for US economy and achieving success?

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Few-family businesses have reached to the third and fourth generation of family. Mondavi's have reached to the fifth generation of their wine business. For four different generations family wines had been a tradition in the family. Mondavi family business was not carried on wholeheartedly by the later generations.

Result:

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Option 1: "Few-family businesses have reached to the third and fourth generation of family."

Explanation: The text states that few family-owned businesses make it to the third or fourth generation, highlighting the challenges faced by family businesses in sustaining ownership across generations. This aligns with the overall theme of the importance of family businesses to the US economy, as it emphasizes the rarity of long-lasting family ownership.

Option 2: "Mondavi's have reached to the fifth generation of their wine business."

Explanation: This option is incorrect because the text specifically mentions that the Mondavi family is currently in the fourth generation, not the fifth. Therefore, this statement contradicts the information provided in the text.

Option 3: "For four different generations family wines had been a tradition in the family."

Explanation: The text confirms that CK Mondavi and Family wines have been a tradition for four generations, as stated by Riana Mondavi. This supports the idea of family businesses being vital to the economy by illustrating a successful example of generational continuity in a family business.

Option 4: "Mondavi family business was not carried on wholeheartedly by the later generations."

Explanation: This option is incorrect because the text emphasizes the commitment of the Mondavi family to continue their business wholeheartedly. Riana Mondavi expresses pride and dedication to carrying on the family legacy, which directly contradicts the claim made in this option.

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