Answered: Runaway Talent Discuss the one benefit…

Runaway Talent Discuss the one benefit and one challenge of succession planning for PharmaGood. Outline one method to Sally Planwell that can be used to g

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

Problem 3CFCA

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Concept explainers

Venture Development Process

To create a startup company around a licensed university technology is referred to as venture development. A venture development firm can assist entrepreneurs in identifying and developing a prospective commercialization strategy, be an incubator, test target market assumptions, recruit university and non-university innovative resources and talented team members, and obtain early-stage finance. Commercialization grants, internal and external small business owners, governmental and local finance systems, and private funds are all possible sources of funding. This activity, when combined with strong intellectual property resources, accelerates early commercialization efforts and better prepares university-affiliated business owners for other types of funding.

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Why Succession Planning is essential: The Case of the Runaway Talent

Discuss the one benefit and one challenge of succession planning for PharmaGood.

Outline one method to Sally Planwell that can be used to groom Mr. Hightalent and prepare him for his new role as Vice President of Scientific Research.

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