Methodology This chapter will explore the methodology used in this study and the research methods informing the choice of these methods. It is a practical project of the field of study. It will address the methods of gathering information needed to answer research questions outlined in the first chapter. The section will cover population, sample-sampling…
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Succession Plans There are several succession plans available for business. These include internal succession, external succession, liquidation, or dissolution. Whichever plan one chooses for the business, it is important that proper strategic planning is done and find out which one is best for the business. Among these, liquidation or dissolution should only be considered as…
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In planning for a succession plan, it is important that entrepreneurs consider business entities as separate from themselves rather than an extension of themselves as many people view them (Burke, 2016). In passing over the business to a family member, it should be understood that they should have the core competencies to run the business.…
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