The area of a circle is the amount of two-dimensional space that the circle occupies. It's the region enclosed within the circle's boundary (the circumference).

To find or calculate the area of a circle, you use a specific mathematical formula that involves its radius (or sometimes its diameter).

The formula is:

Area (A) = π × r²

Where:

• A represents the Area of the circle.
• π (pi) is a mathematical constant, approximately equal to 3.14159. For many calculations, using 3.14 or the π button on your calculator is sufficient.
• r represents the radius of the circle. The radius is the distance from the center of the circle to any point on its edge.

Example 1: Let's say you have a circle with a radius of 5 centimeters (cm).

Example 2: Suppose a circle has a diameter of 12 inches (in).

The "Three-Circle Model" is a well-known framework in family business management. It's used to understand the interconnected and sometimes conflicting interests and perspectives within a family-owned enterprise.

The model highlights seven distinct sectors or roles that individuals can occupy based on which circles they belong to (e.g., a family member who is also an owner but not an employee, or an owner-manager who is not part of the family).