ENTREPRENEURSHIP

Detailed explanation-1: -Promotion: Promotions are the most common form of internal recruitment wherein the employees are moved to the upper levels of the organization with more responsibility and prestige.

Detailed explanation-2: -An internal promotion happens when an internal candidate is promoted to a new position-instead of the organization hiring an external candidate. Another interpretation of the term internal promotion is when an employee acquires the necessary skills to reach the next level of their professional journey.

Detailed explanation-3: -Internal promotion is when you fill an open role with an existing employee instead of hiring someone new.

Detailed explanation-4: -Examples of vertical promotions include moving from a Manager to Director, or Director to C-level Executive, with an increase in direct reports and decision-making responsibilities. Dry promotions involve all the responsibility of a new title, but without the benefits that come with it.

Detailed explanation-5: -Internal source of recruitment is when the employees from the organisation itself are used to fill the vacant job positions. Promotion is when a person is shifted from one job position to another with increase in status and responsibilities.