What Is Succession Planning and What Are Its Benefits? What

question 36

Essay

What is succession planning and what are its benefits? What are the three stages for an effective program for developing high-potential employees?

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Definitions:

Supply Chain

The network of all entities involved in producing and delivering a product or service to the consumer, including raw material suppliers, manufacturers, and retailers.

Add Value

enhancing the worth of a product or service through additional features, improved quality, or enhanced delivery, making it more attractive to consumers.

Customer Service

Customer service encompasses the support and assistance companies offer to their customers before, during, and after a purchase to ensure a satisfying and helpful experience.

Distribution Network

A system of interconnected entities, including manufacturers, warehouses, and retailers, involved in delivering goods from production to the consumer.