Problem
Read the article "The High Cost of Poor Succession Planning- A better way to find your next CEO" by Claudio Fernandez Araoz, Gregory Nagel and Carrie Green and answer these questions:
• Why do you think "companies have an irrational bias toward" external hires?
• How has the the loss of institutional knowledge/intellectual capital impacted your department or organization?
• The authors suggest several solutions to improve succession planning. Does your organization currently practice any of the suggestions? If you were in a position to do so, what suggestions would you implement to improve succession planning?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.