Business Succession Planning

Course Description

Welcome to the Business Succession Planning workshop. 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. Whether it is preparing someone to take over as the sole proprietor of a small business or a position of leadership in a corporation, business succession planning is essential to the long-term survival of a company. 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. • Characterize success. Course Contents: • Succession Planning Vs. Replacement Planning • What is Business Succession Planning? • What Is Replacement Planning? • Differences Between • Deciding What You Need • Preparing for the Planning Process • How to Set Parameters for the Planning Process • Should You Establish a Committee? • How to Gather Operational Data • Initiating Process • Develop a Mission Statement • Develop a Vision Statement • Choosing to Be a Mentor • The SWOT Analysis • Identifying Strengths • Identifying Weaknesses • Identifying Opportunities • Identifying Threats • Developing the Succession Plan • Prioritize What the Succession Plan Will Address • Set Goals and Objectives • Develop a Strategy for Achieving Goals • Draft the Plan • Executing the Plan • Assign Responsibility and Authority • Establish a Monitoring System • Identifying Paths • Choosing Your Final Approach • Gaining Support • Gathering Data • Addressing Concerns and Issues • Evaluating and Adapting • Managing the Change • Developing a Change Management Plan • Developing a Communication Plan • Implementing the Plans • Providing Constructive Criticism • Encouraging Growth and Development • Overcoming Roadblocks • Common Obstacles • Re-Evaluating Goals • Focusing on Progress • Reaching the End • How to Know When You’ve Achieved Success • Transitioning • Words from the Wise What You Will Get When Enrolling? 1. Course PowerPoint Presentation 2. Training Manual 3. Training Audios 4. Training Videos 5. Course Activities 6. Case Studies On Completion Book for a Free Course Assessment Session and receive Your Course Certificate