1. Explain how to develop an effective management succession plan-Explain
the
ASSIGNMENTExplain the factors necessary for a strong family businessUnderstand the exit
strategy options available to an entrepreneurDiscuss the stages of management
successionExplain 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: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