Why Is Developing a Management Succession Plan So Important to the Founder

question 81

Essay

Why is developing a management succession plan so important to the founder of a family business? Identify and briefly describe the steps of a successful plan.

---

Definitions:

Progressive Era

A period of widespread social activism and political reform in the United States from the 1890s to the 1920s, aimed at addressing issues stemming from industrialization, urbanization, and corruption.

Dilemma Of Federalism

The conflict or challenge of balancing power between national and state governments within a federal system.

Elite Democrats

Refers to members of the Democratic Party who hold significant power, influence, or status within the party's structure or in government.

Dual Federalism

A political arrangement in which power is divided between the federal and state governments in clearly defined terms, with state governments exercising those powers accorded to them without interference from the federal government.