Which of the Following Is True About Succession Planning

question 97

Multiple Choice

Which of the following is true about succession planning?

• A) It ensures that middle management systematically reviews leadership talent in the company.
• B) It provides a set of developmental experiences that managers must complete to be considered for top management positions.
• C) All companies have a succession plan ready when they need one.
• D) It identifies a specific replacement for each managerial position within the company.
• E) It focuses on low-to-medium potential employees.

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Definitions:

Profit Maximization

The business objective of achieving the highest possible financial gain, commonly through increased sales revenue, cost reduction, or both.

Social Goals

Objectives that aim to improve society's well-being, addressing issues like poverty, inequality, and environmental sustainability.

Economic Institution

An established organization or system that plays a role in the distribution and consumption of goods and services within an economy.

Social Responsibility Strategy

A company’s plan or approach to contributing positively to societal goals, through sustainable business practices and ethical contributions.