Answered: Advise an employer on the steps to be…

Business

Management

Advise an employer on the steps to be taken in establishing and sustaining a succession plan.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Advise an employer on the steps to be taken in establishing and sustaining a succession plan.

Expert Solution

Step 1

Succession planning is a method and plan for replacement outlining or filling on leadership positions. It is practiced to recognize and grow new, possible leaders who can go into leadership functions when they shift idle.

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