Correct Answer: Succession planning

Solution : The correct answer is The correct answer is a) Succession planning.

Succession planning is the process of identifying and developing individuals within an organization who have the potential to fill key positions or leadership roles in the future. It involves identifying talented employees and preparing them for advancement to higher-level positions when the current incumbents retire, resign, or are promoted.

The purpose of succession planning is to ensure a smooth transition of leadership and maintain the continuity of organizational effectiveness. By identifying and grooming potential successors in advance, organizations can reduce disruptions and minimize the risks associated with key positions being left vacant or filled with individuals who are not adequately prepared.

Succession planning typically involves a systematic approach that includes identifying critical roles, assessing current and future talent needs, identifying high-potential employees, providing them with development opportunities, and monitoring their progress over time. It may also involve mentoring, training, and job rotation programs to enhance the skills and competencies of potential successors.

Overall, succession planning is an important strategic process that helps organizations build a pipeline of capable leaders and ensures a smooth transition of talent to key positions, thereby enhancing organizational stability and long-term success.