Business succession Plan

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.

Whether it is preparing someone to take over as the sole proprietor of a small business or a position of leadership in a corporation, business succession planning is essential to the long-term survival of a company. This course will teach you the difference between succession planning and mere replacement planning and how to prepare people to take on the responsibilities of leadership so that the company thrives in the transition.

Topics covered

• Succession Planning Vs Replacement Planning
• Preparing for the planning process
• Initiating process
• SWOT Analysis
• Developing the Succession Plan
• Executing the Plan
• Gaining Support
• Managing the Change
• Overcoming Roadblocks
• Reaching the End

Learning Outcomes

At the end of this program, participants will be able to:

• Define business succession planning and its role in your company.
• Lay the groundwork to develop a succession plan.
• The importance of mentorship.
• Define and use a SWOT analysis to set goals.
• Create a plan, assign roles, and execute the plan.
• Communicate to develop support and manage change.
• Anticipate obstacles, and evaluate and adapt goals and plans.
• Characterize success.

Eligibility / Requirements

The candidate must be in a role that requires long term management of the business and succession. This will include leaders and HR professionals