The vice president of Oreon Inc., an international hotel chain, has declared his willingness to retire from his post.The top management of Oreon elects the current general manager of operations as the next vice-president.Following this, the manager is given adequate training and practical experience to make the transition smoother.This scenario illustrates the concept of _____.

Question

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The scenario describes the process of executive succession, where the current vice president is retiring and a successor is chosen from within the company and given adequate training to smoothly transition into the new role.

The Vice President of Oreon Inc