Management Succession and Risk Management Strategies , business and finance homework help

Need help with the following discussion question.

Management Succession and Risk Management Strategies
Please respond to the

following:

• Assume you are the owner of a small business with which you are familiar. Outline the basics of a management succession plan for passing the business on to the individual of your choice.
• Referring to the same small business, determine the most appropriate way for that business to minimize its exposure to risk. Explain your rationale.