Business Succession Planning

SCHEDULE

No schedule at the moment

If you have three or more candidates or you would like to run this course as an in-house programme, please contact us.

COURSE AIMS

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.

WHAT WILL YOU GAIN FROM THIS COURSE?

Knowing how to deal with:

  • 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.

SAMPLE COURSE CONTENT

Below is an example of the course content that highlights some of the course’s key learning points. As part of your training program, we will modify content as needed to meet your business objectives. Upon request, we will provide you with a copy of participant materials prior to the session(s).

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
  • Wrapping it All Up
Wrapping up
  • Words from the Wise
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