The Key to Successful Business Succession Planning

Course Overview:

Business Succession planning is all about being prepared. The loss of valuable leadership can cripple even the strongest of companies. Succession planning is an essential component to the survival and growth of any business. Whether it is grooming employees to become leaders, or preparing for an employee’s retirement your participants will identify common obstacles and how to overcome them.

Our Business Succession Planning workshop will show you the differences between succession planning and mere replacement planning. How you prepare people to take on leadership responsibilities is just as important as hiring the right person for the job. Every company should have a form of succession planning in its portfolio.

Target Audience:

Anybody who is interested in learning Business Succession Planning

Learning Objectives:

In this course participants will:

Learn the importance of succession planning

Understand the process of succession planning

Recognise the importance of mentoring as a component of your plan

Learn to set goals using a SWOT analysis

Draft a plan, assign responsibilities and establish monitoring systems

Understand the importance of change management

Learn to anticipate obstacles

Know how to re-evaluate goals and focus on progress

Recognise when success has been achieved

Prerequisites:

None

Course Materials:

Students will receive a course manual with presentation slides and reference materials.

Technical Requirements:

For eBooks:

Internet for downloading the eBook

Laptop, tablet, Smartphone, eReader (No Kindle)

Adobe DRM supported software (e.g. Digital Editions, Bluefire Reader)

eBook download and activation instructions

Agenda:

Module One: Succession Planning Vs. Replacement Planning

What is Business Succession Planning?

What Is Replacement Planning?

Differences Between

Deciding What You Need

ModuleTwo: 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: Initiating Process

Develop a Mission Statement

Develop a Vision Statement

Choosing to Be a Mentor

Module Four: The SWOT Analysis

Identifying Strengths

Identifying Weaknesses

Identifying Opportunities

Identifying Threats

Module Five: 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: Executing the Plan

Assign Responsibility and Authority

Establish a Monitoring System

Identifying Paths

Choosing Your Final Approach

Module Seven: Gaining Support

Gathering Data

Addressing Concerns and Issues

Evaluating and Adapting

Module Eight: Managing the Change

Developing a Change Management Plan

Developing a Communication Plan

Implementing the Plans

Providing Constructive Criticism

Encouraging Growth and Development

Module Nine: Overcoming Roadblocks

Common Obstacles

Re-Evaluating Goals

Focusing on Progress

Module Ten: Reaching the End

How to Know When You’ve Achieved Success

Transitioning

Wrapping it All Up

Module Eleven: Wrapping Up

Words from the Wise

Review of Parking Lot

Lessons Learned

Completion of Action Plans and Evaluations