Business Succession Planning Workshop in Los Angeles on Jun 24th, 2024 (2024)

Certificate: Course Completion Certificate

Language: English

Duration: 1 Day

Credits: 8

Refreshments: Snacks, Beverages and Lunch included in a classroom session

Course Delivery: Classroom

Course Overview:

Business Succession planning is all about being prepared. The loss of valuable leadership can cripple even the strongest of companies. Succession planning is an essential component to the survival and growth of any business. Whether it is grooming employees to become leaders, or preparing for an employee’s retirement, your participants will identify common obstacles and how to overcome them.

Our Business Succession Planning workshop will show you the differences between succession planning and mere replacement planning. How you prepare people to take on leadership responsibilities is just as important as hiring the right person for the job. Every company should have a form of succession planning in its portfolio.

Target Audience:

Anybody who is interested in learning Business Succession Planning

Learning Objectives:

In this course participants will:

  • Learn the importance of succession planning
  • Understand the process of succession planning
  • Recognise the importance of mentoring as a component of your plan
  • Learn to set goals using a SWOT analysis
  • Draft a plan, assign responsibilities and establish monitoring systems
  • Understand the importance of change management
  • Learn to anticipate obstacles
  • Know how to re-evaluate goals and focus on progress
  • Recognise when success has been achieved



Course Materials:

Students will receive a course manual with presentation slides and reference materials.

Technical Requirements:

For eBooks:

Internet for downloading the eBook

Laptop, tablet, Smartphone, eReader (No Kindle)

Adobe DRM supported software (e.g. Digital Editions, Bluefire Reader)

eBook download and activation instructions

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Business Succession Planning Workshop in Los Angeles on Jun 24th, 2024 (2024)


What is the difference between succession management and succession planning? ›

Succession management vs succession planning

Succession planning is the process of identifying and developing a talent bench for a specific position or positions. Succession management is a more birds-eye view that focuses on building long-term talent benches and leadership maps for the organisation at large.

What is a business succession plan? ›

Succession planning is the process of identifying the critical positions within your organization and developing action plans for individuals to assume those positions.

What is a succession plan example? ›

Family-owned businesses that transfer ownership from one generation to the next are prime examples of succession planning. Simply assuming a child or relative will one day take the reins does not ensure the organization's survival. The transition requires strategic conversations, training and thorough preparation.

Who is responsible for succession planning? ›

The primary responsibility for succession management should rest with the board of directors and the CEO with the assistance of human resources. Effective succession management is much more than simply having a slate of candidates to replace the CEO.

What is another name for succession planning? ›

Succession planning is also commonly known as replacement planning and often involves passing on ownership of a company to someone else.

What is the timeline for succession planning? ›

Is There an Optimal Timeline for Succession Planning? The short answer to this question is, well, not really. Every company's timeline is individual. But it often takes 12 months or more to build out a leadership succession plan and depending on business needs it could take more than two or even three years.

What are the 5 D's of succession planning? ›

Consideration of the 5 Ds alone—death, disability, divorce, disagreement, and distress—should prompt business owners to initiate the exit and succession planning process, as they represent the certainties that business ownership will eventually transition.

When should succession planning begin? ›

Planning for succession should begin well before the owner(s) reach retirement age or experience any health difficulties. Adequate time is required to groom and prepare a successor, transfer knowledge and skills, and handle any legal or financial issues that may develop during the transition.

What is the role of HR in succession planning? ›

The role of HR in succession planning is about much more than filling vacancies – it's centered on ensuring an organization can adapt and continue to thrive today and in the future.

How many business owners do not have a succession plan? ›

No one goes through the work, risk, and sacrifice of starting a business without hoping it will last. Building something that endures is the dream that motivates entrepreneurs.

What companies use succession planning? ›

By identifying and developing future leaders, businesses can ensure a seamless transition when key positions become vacant. Examples from companies like Apple and Microsoft demonstrate the significant impact of effective succession planning on long-term success.

How do you create a basic succession plan? ›

A succession plan should include a clear identification of key positions, assessment criteria for potential successors, development plans tailored to individual needs, strategies for knowledge transfer, communication protocols, and a process for ongoing monitoring and adjustment.

How long is a succession plan? ›

Succession planning is a 12- to 36-month process. Encourage team members and leaders to think long-term and big-picture during the program development.

What succession management means? ›

Succession management is a wider set of resourcing and development processes within which succession planning sits. These include recruitment and selection, workforce planning, skills analysis, talent management and management development (including graduate and high-flyer programmes).

What is succession planning in simple terms? ›

Succession planning in HR is the process of preparing people for future roles to support continuous business functioning. Succession planning is a long-term, strategic investment that buffers both large and medium-sized businesses against inevitable future disruptions or sudden job vacancies.

What are the four stages of succession planning? ›

In this article, we'll explore the four stages of succession planning and provide tips for organizations to implement each stage effectively.
  • Stage 1: Identify Key Positions. ...
  • Stage 2: Assess Current Talent. ...
  • Stage 3: Develop Talent. ...
  • Stage 4: Monitor Progress. ...
  • Tips for Implementing Succession Planning. ...
  • Start Early.

What is the difference between estate planning and succession planning? ›

Estate planning, in general, is the transfer of assets and wealth (think: things) at death. Sometimes estate planning transfers assets before death as part of a long-term plan. Succession planning is transferring decision-making and leadership (think: people, processes).

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