Asked by Demia Kelly on Apr 26, 2024
Verified
Having a succession plan helps avoid a succession problem.
Succession Plan
A strategy for identifying and developing future leaders within an organization, ensuring a smooth transition of key roles in the case of departure or retirement.
Succession Problem
Challenges and issues related to transferring leadership or ownership of a company from one generation or leader to another.
- Gain an understanding of succession difficulties and approaches within family-run companies.
Verified Answer
CC
carlos cabreraApr 27, 2024
Final Answer :
True
Explanation :
A succession plan outlines a clear path to follow in the event of a leader's departure, which can minimize disruption and problems that arise when the transition is sudden or poorly handled. Therefore, having a succession plan helps avoid a succession problem.
Learning Objectives
- Gain an understanding of succession difficulties and approaches within family-run companies.
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