Having a Solid Management Succession Plan in Place, Well Before

question 165

True/False

Having a solid management succession plan in place, well before retirement is near, is absolutely critical.

---

Definitions:

Action Plan

A detailed proposal for doing or achieving something, outlining tasks, timelines, and resources.

Performance Opportunity

A situation or occurrence that allows an individual or organization to demonstrate their abilities and achieve significant improvements or success.

Strategic Opportunism

Focuses on long‐term objectives while being flexible in dealing with short‐term problems.

Long-Term Objectives

Goals or plans that are intended to be achieved over an extended period, typically over several years, focusing on future growth and development.