Family-owned companies
Question 1
Question 1 von 10
What is Germany’s oldest company?
Answers
Question 1 von 10
The Prym Group
The Berenberg-Bank
Brauerei Zötler
To the question
Right
Correct. This brewery dates back to 1447, when it was opened in Rettenberg in the Allgäu. Today, this privately-owned brewery is in its 20th generation.
False
Unfortunately, this is incorrect. Founded in 1530 in Aachen, this is certainly one of the oldest companies, but there is one that is even older.
Incorrect. However, this company is Germany’s oldest bank. Merchants Hans and Paul Berenberg opened Hamburg’s first financial institution in 1590.
Correct. This brewery dates back to 1447, when it was opened in Rettenberg in the Allgäu. Today, this privately-owned brewery is in its 20th generation.
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Question 2
Question 2 von 10
It’s not about size. What percentage of small and medium-sized businesses have fewer than five employees?
Answers
Question 2 von 10
2 percent
42 percent
82 percent
To the question
Right
Correct! This is the number of small and medium-sized businesses that truly honor that name.
False
Incorrect. This the number of businesses with 50 or more employees.
Unfortunately, this is not correct.
Correct! This is the number of small and medium-sized businesses that truly honor that name.
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Question 3
Question 3 von 10
Which city is home to the most large German family-owned businesses?
Answers
Question 3 von 10
Munich
Hamburg
Berlin
To the question
Right
Correct! Although many large companies have moved to Berlin, family-owned businesses tend to stay true to their roots. The Hanseatic City contains 4.4 percent of family-owned businesses, the most of any city in Germany.
False
Incorrect. While some of Germany’s wealthiest companies are registered in and around the Bavarian metropolis, Munich takes second place with 2.2 percent of businesses.
Correct! Although many large companies have moved to Berlin, family-owned businesses tend to stay true to their roots. The Hanseatic City contains 4.4 percent of family-owned businesses, the most of any city in Germany.
Incorrect. With only 2 percent of Germany’s family-owned businesses, which generate more than €50 million annually, the capital city is not number one.
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Question 4
Question 4 von 10
German small and medium-sized enterprises take education seriously. What percentage of apprentices are trained at these businesses?
Answers
Question 4 von 10
more than 60 percent
more than 70 percent
more than 80 percent
To the question
Right
Correct. According to the Institut für Mittelstandsforschung (IfM) Bonn, as of 2012, 84.2 percent of all apprentices worked in companies with fewer than 500 employees subject to social security contributions.
False
Incorrect. That percentage is too low and would not cover future demand for specialist personnel.
Unfortunately that is incorrect. This would not be enough to cover future demand for experts.
Correct. According to the Institut für Mittelstandsforschung (IfM) Bonn, as of 2012, 84.2 percent of all apprentices worked in companies with fewer than 500 employees subject to social security contributions.
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Question 5
Question 5 von 10
What is Germany’s largest family-owned company?
Answers
Question 5 von 10
BMW
Volkswagen
Schwarz Group
To the question
Right
Correct. At present, the listed VW Group is by far Germany’s largest family-run business.
False
Incorrect. Susanne Klatten, who inherited the company from her father together with her brothers in 1997, is considered Germany’s wealthiest woman, but her company is only at number two.
Correct. At present, the listed VW Group is by far Germany’s largest family-run business.
Incorrect, but that has nothing to do with its relatively unknown name. The Schwarz Group’s far more widely recognized discount supermarket brands Lidl and Kaufland place this group in third place.
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Question 6
Question 6 von 10
What percentage of all German companies are family-owned businesses?
Answers
Question 6 von 10
40 percent
50 percent
95 percent
To the question
Right
Correct. Ninety-five percent of all German companies are family-owned businesses.
False
Unfortunately, that is incorrect, however family-owned businesses generate around 40 percent of all company turnover in Germany.
Incorrect. However at least two natural persons or their family members must own 50 percent of the shares in a company – and belong to the management board – in order for that company to qualify as a family-owned business.
Correct. Ninety-five percent of all German companies are family-owned businesses.
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Question 7
Question 7 von 10
Engineer Carl von Linde, founder of Linde AG, invented the first refrigeration machine in 1871, an innovation which led to the production of the first refrigerator. Which type of company had a deciding influence on this process?
Answers
Question 7 von 10
Brewers
Ice-cream producers
Slaughterhouse operators
To the question
Right
Correct! Brewers stood to benefit immensely from this invention and offered Linde financial support. Thanks to his refrigeration machine, they could now brew lagers in summer as well as in winter.
False
Correct! Brewers stood to benefit immensely from this invention and offered Linde financial support. Thanks to his refrigeration machine, they could now brew lagers in summer as well as in winter.
Incorrect. However, these companies certainly benefited from this invention, as it helped ice-cream to break into the mass market.
Incorrect. The first refrigerated train car went into use in the USA in 1878, however it was the work of meat producer Gustavus Swift.
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Question 8
Question 8 von 10
What does the term ‘hidden champions’ mean when it comes to small and medium-sized enterprises?
Answers
Question 8 von 10
Former SMEs that have become groups.
SMEs that are still relatively unknown, but have strong potential for growth and are likely to be highly successful in the future.
SMEs that rank among the top three on the world market, but are relatively unknown due to their specialized products.
To the question
Right
Correct. ‘Hidden champions’ are companies that lead the European or work market in a niche market segment.
False
Unfortunately, this is not correct.
This is incorrect even though it sounds right, but the term has nothing to do with future prospects.
Correct. ‘Hidden champions’ are companies that lead the European or work market in a niche market segment.
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Question 9
Question 9 von 10
How do the majority of German family-owned companies rate their present economic situation?
Answers
Question 9 von 10
Very good
Good
Satisfactory
To the question
Right
Correct. Half of these companies are satisfied with their economic situation.
False
Incorrect. Only 10.6 percent rate their economic situation this positively.
Correct. Half of these companies are satisfied with their economic situation.
Incorrect. However 33.5 percent, or just over a third, only rate their situation as satisfactory.
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Question 10
Question 10 von 10
Family-owned businesses do not always run smoothly. Which two companies were formed by a quarrel between two brothers?
Answers
Question 10 von 10
Adidas and Puma
Aldi Nord and Aldi Süd
C&A and P&C
To the question
Right
Correct. Brothers Rudolf and Adolf Dassler founded the sports shoe producer Adidas in the 1920s. However, the two could not stop fighting, and Rudolf eventually left the company to form sports shoe producer Puma.
False
Correct. Brothers Rudolf and Adolf Dassler founded the sports shoe producer Adidas in the 1920s. However, the two could not stop fighting, and Rudolf eventually left the company to form sports shoe producer Puma.
Incorrect. Brothers Karl and Theo Alrecht split Aldi, which was founded by their father, into its Nord and Süd branches for unknown reasons. They did not have a public dispute over the company, but there must have been some internal struggles.
Incorrect. C&A is named after brothers Clemens and August Brenninkmeijer. P&C stands for retailer Peek&Cloppenburg, founded by Dutch businessmen Johann Peek and Heinrich Cloppenburg.
To the results
Result
points
Hopefully you’re happy to have a career as an employee, because if you owned a company, it might not last long on the market. But never fear! A business is only as good as its employees.
You have a lot of potential! You know the basics and there is almost nothing a person can’t learn when they put their mind to it. You still lack a little bit of self confidence, but if you work on your ideas, they have the potential to go far. Chin up!
If you don’t already run a small or medium-sized business in its millionth generation, you would certainly be qualified to do so. Keep up the good work. Or find an heir or heiress to marry. Or look for a mentor who owns their own business.
