CEO Duality Refers to a Situation in Which the CEO

question 12

Multiple Choice

CEO duality refers to a situation in which the CEO

• A) formulates and implements strategies.
• B) serves as both the CEO and the chair of the board of directors.
• C) is responsible for acting as CEO and serving on the compensation committee.
• D) is responsible for acting as CEO and Chief Operating Officer (COO).

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Definitions:

Small Businesses

Enterprises with limited resources and workforce, often characterized by local operation and lower volume of sales.

Dominate Industry

To hold a commanding or leading position in a particular market or sector.

Independently Owned

Independently owned describes a business or enterprise that is owned by an individual or a private group, not part of a larger corporation or conglomerate.

Succession Plan

A strategy for identifying and developing future leaders within an organization, to ensure continuity in key positions.