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MHA 702 Exam 4 Questions And Verified Detailed Answers

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MHA 702 Exam 4 Questions And Verified Detailed Answers...

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  • October 8, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MHA 702
  • MHA 702
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MHA 702 Exam 4 Questions And Verified
Detailed Answers


Succession planning for middle management is

Commonly depicted as career planning



Succession planning includes

The development of a single, anointed successor to a position

Career planning planning often

Includes developing multiple candidates for a single position, which tends to create a
small group of possible successors



A large group of senior healthcare leaders will

Likely retire over the course of several years




Changes in leadership at the top of any organization causes

Great stress and uncertainty among employees and members of their governing boards



Organizations that have planned succession at the top are more likely to have smoother
transitions in the top positions of their organizations .



Organizations which do not plan for succession development essentially leave the
development of their future leaders to happenstance, rather than making a conscious
and systematic effort to identify and prepare high-potential individuals to take over and
provide the needed leadership.

,Healthcare organizations probably have more to gain from

Succession planning more effectively compared to other business types



Healthcare has attracted numerous individuals due

To its usually stable job environment, and a successful transition of a CEO can help in
retaining both the feel and appearance of stability



A recent survey of over 100 healthcare executives that encouraged their organization to
pursue succession planning

1. The presence of a governing board member or CEO having had a previous
succession panning experience

2. Having a person within the organization initiate and coordinate the effort

3. Recognition of the benefits of succession planning to the organization

Most CEO's remain in their position for no longer than 5 years and experts recommend
that planning should begin 4 years before a CEO is expected to depart so most hospitals
should

Begin succession planning within one year of hiring a new CEO

Human Resources departments can and at times

Step in and be the catalyst for sound succession planning



The trust of the governing board and CEO cannot be bought, but a human resource
director can earn and preserve it.



In the long run, succession planning will save money for organizations



CEO search fees can reach 30% or more of the salary of a new CEO for the first year



Grooming an internal person to take over was traditionally considered one of the key
elements of for-profit sector succession planning

, For-profit organizations that hired external people to replace their CEOs have

Found that maintaining financial stability more difficult than those for-profit who have
groomed internal persons



Those that hire a CEO from the outside

Normally need 6-12 months before the financial performance regain the level that
existed prior to the replacement

Those people have critically important roles to ensure that any succession plan is
successful

The governing board, the current CEO, the incoming successor, and the organization's
Human Resources department



CEO succession planning should

Be a board-driven collaborative process



CEO succession planning must

Be a continuous process



Key leadership criteria and competencies must

Be defined for any potential successor



Building feedback loops into assignments will

Ensure that the successor is receiving the experiences necessary for professional
developmental growth



Goal of succession planning is

To bring the right leader in at the right time

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