Business Succession Planning

LEARNING OUTCOMES

• Succession Planning Vs. Replacement Planning
• Preparing for the Planning Process
• Initiating Process
• The SWOT Analysi
• Developing the Succession Plan
• Executing the Plan
• Managing the Change
• Overcoming Roadblocks

COURSE OVERVIEW & CONTENT

The loss of valuable leadership can cripple a company. Business succession planning is essentially preparing successors to take on vital leadership roles when the need arises. It is essential to the long-term survival of a company. Every company should have a form of succession planning in its portfolio as it is not the expected absences that can cripple a company, but the unexpected ones.

Whether it is preparing someone to take over a position of leadership in a corporation, or the sole proprietor of a small business Business Succession Planning will teach you the difference between succession planning and mere replacement planning. How you prepare people to take on the responsibilities of leadership so that the company thrives in the transition is just as important as picking the right person for the job.

• Succession Planning Vs. Replacement Planning

• What Is Business Succession Planning?
• What Is Replacement Planning?
• Differences Between
• Deciding What You Need

• Preparing For The Planning Process

• How To Set Parameters For The Planning Process
• Should You Establish A Committee?
• How To Gather Operational Data

• Initiating Process

• Develop A Mission Statement
• Develop A Vision Statement
• Choosing To Be A Mentor

• The SWOT Analysi

• Identifying Strengths
• Identifying Weaknesses
• Identifying Opportunities
• Identifying Threats

• Developing The Succession Plan

• Prioritize What The Succession Plan Will Address
• Set Goals And Objectives
• Develop A Strategy For Achieving Goals
• Draft The Plan

• Executing The Plan

• Assign Responsibility And Authority
• Establish A Monitoring System
• Identifying Paths
• Choosing Your Final Approach

• Gaining Support

• Gathering Data
• Addressing Concerns And Issues
• Evaluating And Adapting

• Managing The Change

• Developing A Change Management Plan
• Developing A Communication Plan
• Implementing The Plans
• Providing Constructive Criticism
• Encouraging Growth And Development

• Overcoming Roadblocks

• Common Obstacles
• Re-Evaluating Goals
• Focusing On Progress

• Reaching The End

• How To Know When You’ve Achieved Success

TRAINING METHODOLOGY

• Group Discussions
• Group & Individual Exercises
• Presentations
• Self-Assessments
• Action Plan