Explain how to develop an effective management succession plan. Understand the four risk management strategies. Discuss the basics of insurance for small business.

Management Question

• Explain the factors necessary for a strong family business
• Understand the exit strategy options available to an entrepreneur
• Discuss the stages of management succession
• Explain how to develop an effective management succession plan.
• Understand the four risk management strategies.
• Discuss the basics of insurance for small business.

12.2 Action Required:

• Watch the short video at the following link:

https://www.youtube.com/watch?v=a_63VIDJbWw&list=RDLV30pxmKvkzFM&index=2

Define the essential qualities of a successful family business.?

Answer the question available in the “Test your Knowledge” section.

Post your answer in the discussion board using the discussion link below