Strategic Business Management Describe Criteria Boards Directors Successfully Used Manage Q34287089

Strategic business management:

describe the criteria that Boards of Directors havesuccessfully used to manage the executive successionprocess.

Expert Answer

Succession planning is the process of identifying the successiontalent for the key positions of the company. This helps inmaintaining the occupancy of the strategic positions in thecompany. A strategic succession planning will facilitate thedevelopment of the talented employees in the company and they canmake out the future strategic positions of the business.

The importance of succession planning for business are:

• Continuity of the strategic business is maintained
• Talented employees of the company are retained with thecompany
• Employees remain motivated and give their best for thedevelopment of the
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