Rationale: Succession planning develops managers in order to ensure managerial continuity over time - and internal promotion is a key way of grooming managers for higher positions.
Induction time would be shorter, because an internal promotee is already familiar with the organisation's culture, structures, systems and personnel.
Management will be familiar with an internal promotee and his or her performance so predicting job performance will be less risky.
Innovation is not necessarily supported by internal promotion, because it does not bring 'new blood' into the organisation.