Succession Planning
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Succession planning is the process of looking long term to ensure that executive and management positions are occupied by qualified people promoted from within, and that employees have avenues for promotion. Learn more about it here.
By Ram Charan
In today's world, there are no sure bets. But despite the inherent risks, CEOs and directors can improve the chances that the next CEO will succeed. A few simple guidelines can go a long way toward ensuring a good choice and a smooth leadership transition: first, specify the company's most crucial needs, second, broaden the field, and third, evaluate the candidates as total people. These recommendations are based on experience mostly with large businesses but apply to organizations of any size, including nonprofit organizations.
(Added: 24-Mar-2005 Hits: 832)
By Stever Robbins
If 39 percent of family businesses passed to a second generation fail, why don't owners plan better for one of the most important events of their lives? In fact, most businesses woefully neglect the long term.
(Added: 1-Jun-2005 Hits: 520)
By Dr. Terry J. van der Werff
Will your company survive your departure? The answer depends almost entirely on how well you nurture your managers and on well they in turn nurture others . In a recent letter to the editor of Fortune magazine, fellow consultant Alan Weiss wrote: %u201CFondly remembered legacies don't lead companies. Flesh and blood leaders do.%u201D A poor leader can undo in months what an exceptional predecessor built over a decade! I couldn%u2019t agree more.
(Added: 1-Apr-2005 Hits: 524)
By HR
More than one-third (39 percent) of senior executives polled in a recent survey admitted they have no succession management plan in place for senior leadership positions.
(Added: 24-Mar-2005 Hits: 581)
By Martin Haworth
A core activity in many successful businesses, Succession Planning is simple and quick to implement - here are seven reasons why you will find it of great value in your business or organisation. But, you need to lead - it works only as well as the support it gets!
(Added: 4-Oct-2005 Hits: 685)
By Dr. Micheal A.S. Guth
Succession planning is just one part of strategic planning. Firms need to have developed strategic plans for their businesses before they can address the future-related issue of successors. However, the strategic plans should help the current owners identify a set of criteria for their successors. With strategic plans that identify how the firm will grow and evolve to the point of transition to new owners, a business will be well on its way to placing the future of the company in the hands of a capable new team.
(Added: 4-Oct-2005 Hits: 566)
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