ENTREPRENEURSHIP

Detailed explanation-1: -An organizational chart is a diagram that visually conveys a company’s internal structure by detailing the roles, responsibilities, and relationships between individuals within an entity.

Detailed explanation-2: -A succession organization chart provides information about succession plans of a manager and persons reporting to the manager. You can see this information in a hierarchical chart format. You search for a person by name on the Succession Organization Chart page to view the succession organization chart of that person.

Detailed explanation-3: -The four types of organizational structures are functional, multi-divisional, flat, and matrix structures.

Detailed explanation-4: -There are 4 stages of succession planning: implementing a software solution, assessing key roles, identifying employees with the skills and potential, and creating and implementing development plans.

Detailed explanation-5: -What is succession planning? Succession planning is the process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. During the succession planning process, you ensure that you will never have a key role open for which another employee is not prepared.