Business Succession Planning  

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Course Description

The loss of key leadership can disrupt or even cripple a company. Business Succession Planning ensures the long-term stability of an organization by preparing capable successors to step into vital leadership roles when needed. It’s not the expected absences that threaten a business but the unexpected ones, making proactive succession planning a critical strategy for any company.

This course goes beyond replacement planning to focus on developing successors who can seamlessly take on leadership responsibilities. Whether preparing for leadership transitions in a corporation or a small business, you’ll learn how to identify and cultivate the right talent to ensure your organization thrives through change.

9+

Hours

58

Lectures

$60

Price

WHAT TO EXPECT

Learning Objectives

  • 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

Course Outline

Module One: Succession Planning Vs. Replacement Planning

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

Module Two: 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

Assessment