2024 MHA 702 EXAM 3
QUESTIONS WITH VERIFIED
ANSWERS (VERIFIED ANSWERS)
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An organization should focus on succession planning for the most senior executive
position, which is: - CORRECT ANSWER>>>>chief executive officer
Organizations should create succession plans for their CEOs before moving on to____.
- CORRECT ANSWER>>>>other senior managers
Succession plans for middle managers are often more accurately described by the term
_____. - CORRECT ANSWER>>>>career planning
A key difference between succession planning and career planning is the ____. -
CORRECT ANSWER>>>>focus
succession planning involves_____. - CORRECT ANSWER>>>>preparing a single,
designated successor
career planning involves ____. - CORRECT ANSWER>>>>preparing several
candidates for a single position
In the context of the healthcare industry, succession planning is a structured human
resources process that sets the stage for a strong leadership transition. It involves
identifying and preparing a successor for the CEO. The process is conducted while a
____. - CORRECT ANSWER>>>>CEO is in that position
Succession planning is a ____ to ensuring continuity of leadership at the highest and
most critical level of administration in an organization - CORRECT
ANSWER>>>>proactive approach
In the next ___ a substantial amount of senior organizational executives are expected to
retire. - CORRECT ANSWER>>>>5 to 10 years
When a successor is not immediately apparent, uneasiness is intensified and may
____. - CORRECT ANSWER>>>>negatively affect organizational performance
Organizations with succession plans are more likely to: - CORRECT
ANSWER>>>>have a smoother leadership transition
,Organizations without succession plans are essentially leaving the development of their
future leaders to chance and going outside the organization to look for a leader is ____.
- CORRECT ANSWER>>>>takes a lot of time and very expensive
The current ceo is responsible for initiating succession planning, but the ___ is
ultimately responsible for appointing a successor. - CORRECT ANSWER>>>>board of
directors
A recent survey of more than 100 healthcare executives identified three factors that
motivated or triggered their organizations to pursuing succession planning. What are
these factors? - CORRECT ANSWER>>>>a governing board member or ceo having
had previous succession planning experience, having a person within the org
initiate and coordinate the effort, and recognition of the benefits of succession
planning to the organization
The current reality is that many hospital CEOs remain in their positions for no longer
than___. - CORRECT ANSWER>>>>five years
Experts recommend that succession planning should begin_____, so most hospitals
should begin succession planning within a year of hiring a new CEO. - CORRECT
ANSWER>>>>four years before a CEO is expected to step down
The HR department will have responsibility for managing the ____. - CORRECT
ANSWER>>>>succession planning process
The idea for creating a succession plan will usually receive more attention and have a
better chance for acceptance if it is ____. - CORRECT ANSWER>>>>enthusiastically
introduced and supported by the CEO or chair of the governing body
Over the long term, succession planning will _____. - CORRECT ANSWER>>>>save
organizations money
When succession planning is practiced, executive search fees can be eliminated. The
cost is high when an executive search firm is used to find an outside CEO. Fees for
searches amount to_____. - CORRECT ANSWER>>>>30% or more of a new CEO's
first year's salary
An organization maintains ____ when an inside person is groomed for the position and
promoted. - CORRECT ANSWER>>>>leadership continuity
A motivating factor for succession planning is that - CORRECT ANSWER>>>>search
fees are eliminated and an organization is able to maintain leadership continuity
when an inside person is groomed and promoted
,_____ has traditionally been considered a key element of for-profit sector succession
planning - CORRECT ANSWER>>>>Grooming an internal person to take over
For-profit organizations that have hired external people to replace their CEOs have
found maintaining financial stability more difficult than those for-profits that have
groomed internal persons. More specifically, those that hire a CEO from the outside
usually require____. - CORRECT ANSWER>>>>six to 12 months before financial
performance regains the level that existed prior to the replacement
What are the five key principles for succession planning? - CORRECT ANSWER>>>>a
board-driven collaborative process, a continuous process, Key leadership criteria
and competencies must be defined, bring the right leader in at the right time, and
complete a post succession assessment after the transition
Succession planning should be one of the governing board's _____ as it seeks to
ensure a strong and viable organization - CORRECT ANSWER>>>>two or three most
important tasks
At all times, a successor should be available, being groomed and ready to step in if the
ceo unexpectedly leaves. Up to ____ may be required to recruit an outside successor -
CORRECT ANSWER>>>>nine months
By identifying a specific successor for the CEO, significant development assignments
can be arranged to ensure ____. - CORRECT ANSWER>>>>appropriate experiences
are encountered
Succession planning is good for ___. - CORRECT ANSWER>>>>all levels of the
company
Building _____ into assignments will ensure that the successor is receiving the
experiences necessary for professional developmental growth. - CORRECT
ANSWER>>>>feedback loops
Feedback loops can involve several approaches, including _____. - CORRECT
ANSWER>>>>360-degree feedback, standard reviews, informal discussions, and
post-assignment debriefings
Apart of bringing the right leader in at the right time means, _____ should be created
and monitored. - CORRECT ANSWER>>>>Specific goals and succession timelines
HR plays an important role in ensuring the transition occurs as planned, a ____ should
be developed for the outgoing CEO. - CORRECT ANSWER>>>>clear exit strategy
Once the transition of CEOs has taken place, a ____ should be conducted to evaluate
the process. - CORRECT ANSWER>>>>post succession assessment
, After a transition takes place, The human resources department should review the
overall effectiveness of the program to___. - CORRECT ANSWER>>>>generate
understanding of what worked and what did not work
When creating and implementing a succession plan, it is important to include a process
that promotes _____. - CORRECT ANSWER>>>>diversity and multiculturalism.
By following the foregoing principles, organizations are able to avoid some common
mistakes and avert failure. One avoidable mistake is ____. - CORRECT
ANSWER>>>>thinking that succession planning is a single event rather than a
process
Another common succession planning mistake is :. - CORRECT ANSWER>>>>the
failure of an organization to anticipate the concerns of key employees who may
have been overlooked or feel like they have been ignored as potential successors
It is best if only ____ specific inside successor is identified. - CORRECT
ANSWER>>>>one
If more than one successor is identified in the planning phase, it ___. - CORRECT
ANSWER>>>>lead to a contest that can be destructive to potential successors as
well as the organization
It is imperative that the selection process be conducted in a fair manner and that the
actual selection of a new CEO is made by the ___. - CORRECT
ANSWER>>>>governing body or board with input and assistance from the
outgoing CEO and the HR department
Ideally, the succession planning process should begin to identify a successor at ______
to allow opportunities for orchestrating significant developmental assignments. -
CORRECT ANSWER>>>>an early point in the potential successor's career
Grooming an inside person helps an organization ensures that: - CORRECT
ANSWER>>>>institutional memories will be preserved (can include bad habits)
With inside successors, there is greater likelihood for the CEO to succeed and for the
organization to maintain its___. - CORRECT ANSWER>>>>current strategic vision
and competitive position
CEOs who have personally experienced being groomed for their current positions
continue to be major supporters of this process. Testimonials from these individuals
consistently attest to the benefit of having been groomed, reporting that existing
relationships within their organizations had allowed them to ____. - CORRECT
ANSWER>>>>"hit the ground running
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