MHA 702 EXAM 3 QUESTIONS AND ANSWERS 100% SOLVED

MHA 702 EXAM 3 QUESTIONS AND ANSWERS 100% SOLVED succession planning preparing single, designated successor career planning preparing several candidates for single position All All/Some companies should partake in succession planning CEO & management positions that use succession planning 1) set succession plan development in motion & direct governing body/board until plan operational 2) provides input on CEO selection roles of CEO for succession planning 1) works with CEO, but has final accountability 2) actually selects new CEO roles of board of directors for succession planning internal hires traditionally done by for-profit sector selection b/c maintains financial stability external hires hiring someone from outside organization; maintaining financial stability difficult (6-12 months to regain) lead time begin 4-5 yrs before CEO expected to step down; begin w/in 1 yr of hiring new CEO saves money, maintains leadership continuity pros for lead time