Succession planning and exit strategies are vital considerations for long-term business sustainability. Explore the significance of these strategies in the life cycle of a business. Discuss the key components of a well-thought-out succession plan and the various exit strategies available to business owners. What are the advantages and disadvantages of different exit options, such as selling, passing the business to family, or mergers and acquisitions? Choose 1 business and share insights on how they did or what they should do in the future to navigate these transitions, and consider the emotional and financial aspects that entrepreneurs should keep in mind when planning for the future of their businesses. Include references please.
A) True
B) False
