Planning for Management Succession Protects Not Only the Founder's,successors',and Company's

question 88

True/False

Planning for management succession protects not only the founder's,successors',and company's financial resources,but it also preserves what matters most in a successful business: its heritage and tradition.

---

Definitions:

Home-Based Businesses

Enterprises that are operated from the owner's home, often utilizing online and digital tools for operations and marketing.

Capital Base

The amount of capital invested in a business by its owners plus any retained earnings, serving as the financial foundation for growth and operations.

Independent Contractor

A person who is not employed by a business and, unlike employees, is not eligible for a benefit package.

Customer Intimacy

Maintaining a long-term relationship with customers through superior service that results in a competitive advantage.