Identify the Correct Statement About Succession Planning

question 69

Multiple Choice

Identify the correct statement 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 a company
• E) it focuses on low-potential and medium-potential employees

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Definitions:

Output

The quantity of goods or services produced in a given period by a firm, industry, or country.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, typically characterized by a reduction in per-unit cost with increasing output.

Specialization

The process by which individuals, firms, or countries focus on producing a certain type of goods or services, often to achieve greater efficiencies or quality.

Diseconomies of Scale

The situation where a company or business grows so large that the costs per unit increase, leading to decreased efficiency.