ENTREPRENEURSHIP

Detailed explanation-1: -Succession planning is the process of identifying the critical positions within your organization and developing action plans for individuals to assume those positions.

Detailed explanation-2: -Succession planning, on the other hand, is the process of identifying and developing internal candidates to fill key leadership roles within the organization.

Detailed explanation-3: -"C-suite” refers to the executive-level managers within a company. Common c-suite executives include chief executive officer (CEO), chief financial officer (CFO), chief operating officer (COO), and chief information officer (CIO).

Detailed explanation-4: -Succession planning and management is an essential component of the broader human resources planning process. It involves an integrated, systematic approach for identifying, developing, and retaining capable and skilled employees in line with current and projected business objectives.

Detailed explanation-5: -Succession planning is defined as a process for identifying and developing new leaders who can replace leaders when they retire, die or leave an organization. It’s a process based on developing a plan that increases the availability of experienced and capable employees who are prepared to assume leadership roles.