Question

What skills and experience does the second generation need to acquire?" and "What is the second generation's expectation for the future of the business, and is it congruent with the company's vision?" are two of the questions that should be examined to start the process of ____ planning.

Answer 1

Answer: Succession planning

Explanation: This is the process of planning and preparing in advance for skills that a business will require in the future.

A company may need to fill in certain positions when older employees leave the business, when they retire, or when they pass away or even when they resign .

They need to prepare people who may take over.

This process involves identifying key business roles, key competencies, potential candidates , designing and implementing the process to prepare and train potential candidates in advance for them to be ready to take on those positions when the time comes .