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.
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