ENTREPRENEURIAL OPERATIONS
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Management hierarchy
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Executive succession
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Fibonacci sequence
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None of the above.
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Detailed explanation-1: -Executive succession planning is preparing for the eventual departure of key executives in leadership roles, either through retirement, promotion, or some other exit. This planning is typically done on a regular cadence so that companies can mitigate the risk of losing a senior management official.
Detailed explanation-2: -The CEO’s primary role in succession planning is to identify potential successors and make sure those people are getting the proper experience and exposure to assume the position.
Detailed explanation-3: -While succession planning centers on identifying and grooming select individuals for specific roles, succession management is focused on building a robust leadership map and developing talent benches for key positions.