Business Succession Planning

2 Days

Introduction

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.

Whether it is preparing someone to take over a position of leadership in a corporation, or the sole proprietor of a small business. Business Succession Planning 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.

Programme 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 plans
• Characterise success

Method and Approach

This programme will involve the use of slides, handout material, work manual with all instructor notes and slides, examples of best practice, appropriate videos and appropriate video material.

The use of flip-charts, syndicate workshops and reporting back sessions will encourage a fully participative and enjoyable event. Delegates will be encouraged to participate actively in relating previous work experiences.

Who Should Attend

This course is designed for business owners, leaders, managers and HR personnel who are responsible identifying and appointing key staff members as part of succession planning and maintaining the future competitiveness of the business. The course is suitable for all levels of an organisation from team leaders and supervisors to board members.

Course Content

This two-day course will cover the following subjects:

Module One: Getting Started

• Introduction to the course
• Workshop Objectives

Module Two: Succession Planning Vs. Replacement Planning

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

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 Four: Initiating Process

• Develop a Mission Statement
• Develop a Vision Statement
• Choosing to Be a Mentor

Module Five: The SWOT Analysis

• Identifying Strengths
• Identifying Weaknesses
• Identifying Opportunities
• Identifying Threats

Module Six: Developing the Succession Plan

• Prioritise What the Succession Plan Will Address
• Set Goals and Objectives
• Develop a Strategy for Achieving Goals
• Draft the Plan

Module Seven: Executing the Plan

• Assign Responsibility and Authority
• Establish a Monitoring System
• Identifying Paths
• Choosing Your Final Approach

Module Eight: Gaining Support

• Gathering Data
• Addressing Concerns and Issues
• Evaluating and Adapting

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 Ten: Overcoming Roadblocks

• Common Obstacles
• Re-Evaluating Goals
• Focusing on Progress

Module Eleven: Reaching the End

• How to Know When You’ve Achieved Success
• Transitioning
• Wrapping it All Up

Module Twelve: Wrapping Up

• Words from the Wise
• Lessons Learned
• Completion of Action Plans and Evaluations