Graeter’s current management team bought the businessfrom their parents, who did not have a formal succession plan in place to indicate who would do what. Do youthink the current team should have such a plan specifyingwho is to step into the business, when, and with whatresponsibilities? Why or why not?

Management, Loose-Leaf Version
13th Edition
ISBN:9781305969308
Author:Richard L. Daft
Publisher:Richard L. Daft
Chapter6: Managing Start-Ups And New Ventures
Section: Chapter Questions
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Graeter’s current management team bought the business
from their parents, who did not have a formal succession plan in place to indicate who would do what. Do you
think the current team should have such a plan specifying
who is to step into the business, when, and with what
responsibilities? Why or why not?

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