What Is the First Step in the Process for Developing

question 2

Multiple Choice

What is the first step in the process for developing a succession plan?

• A) Identify positions to plan for.
• B) Measure employee potential.
• C) Provide feedback to employees.
• D) Define job requirements.
• E) Both "provide feedback to employees" and "define job requirements."

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Definitions:

Income

The reward garnered over time, generally in a consistent pattern, from occupational or investment sources.

Expected Utility Function

A concept in economics that predicts the utility or satisfaction a rational individual expects to receive from different outcomes, used in decision making under uncertainty.

Sure Payment

A guaranteed payment, often referring to financial transactions where the payer is obligated to pay a certain amount.

Lottery

A form of gambling which involves drawing lots for a prize, often administered by state or federal governments.