"What Skills and Experience Does the Second Generation Need to Acquire

question 38

Multiple Choice

"What skills and experience does the second generation need to acquire?" and "What is the second generation's expectation for the future of the business, and is it congruent with the company's vision?" are two of the questions that should be examined to start the process of _____ planning.

• A) long-range
• B) short-range
• C) succession
• D) operational
• E) contingency

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Definitions:

Producing

The act of creating goods or services through the combination of labor, capital, and resources, intended for exchange or personal use.

Exchange

The process by which parties trade goods, services, or financial instruments, facilitating the transfer of ownership and value.

Tomatoes

A versatile fruit commonly treated as a vegetable in culinary uses, known for its red color and variety of shapes and sizes, important in many cuisines worldwide.

Pumpkin

A large, round, orange vegetable that is commonly grown as a food source and used as decoration, especially during Halloween and Thanksgiving.