Business Succession Planning
Business Succession planning is an essential strategy in securing the future success of a business.
The Business Succession Planning course 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.
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.
At the end of this course, participants should 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.
· Characterise success.
Module One: Getting Started
Module Two: Succession Planning Vs. Replacement Planning
What is Business Succession Planning?
What Is Replacement Planning?
Deciding What You Need
Module Two: Review Questions
Module Three: Preparing for the Planning Process
How to Set Parameters for the Planning Process
Should You Establish a Committee?
How to Gather Operational Data
Module Three: Review Questions
Module Four: Initiating Process
Develop a Mission Statement
Develop a Vision Statement
Choosing to Be a Mentor
Module Four: Review Questions
Module Five: The SWOT Analysis
Module Five: Review Questions
Module Six: Developing the Succession Plan
Prioritize What the Succession Plan Will Address
Set Goals and Objectives
Develop a Strategy for Achieving Goals
Draft the Plan
Module Six: Review Questions
Module Seven: Executing the Plan
Assign Responsibility and Authority
Establish a Monitoring System
Choosing Your Final Approach
Module Seven: Review Questions
Module Eight: Gaining Support
Addressing Concerns and Issues
Evaluating and Adapting
Module Eight: Review Questions
Module Nine: Managing the Change
Developing a Change Management Plan
Developing a Communication Plan
Implementing the Plans
Providing Constructive Criticism
Encouraging Growth and Development
Module Nine: Review Questions
Module Ten: Overcoming Roadblocks
Focusing on Progress
Module Ten: Review Questions
Module Eleven: Reaching the End
How to Know When You’ve Achieved Success
Wrapping it All Up
Module Eleven: Review Questions
Words from the Wise