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Advance Institute of Business

How to plan your business management succession

Advance Institute of Business

Planning for management succession is critical for the long-term success and sustainability of any organisation. A well-executed succession plan can help ensure that the company continues to thrive, even when key leaders retire, leave the company, or are promoted.

Here are some steps to consider when planning for management succession:

  1. Identify key positions: Start by identifying the key positions in your organisation. These are the roles that are critical to the company’s success and would cause significant disruption if left unfilled.
  2. Define the skills and competencies needed: Once you have identified the key positions, define the skills and competencies needed to perform those roles effectively. This will help you identify potential successors who possess the required skills and competencies.
  3. Develop a talent pool: Create a talent pool of potential successors for each key position. This can include high-potential employees, individuals who have expressed an interest in the role, and external…

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About Craig Hill

Social Justice Campaigner, Writer, Teacher and Business Consultant. Lived in China and USA. Dealing with disability. My articles have been cited in New York Times, BBC, Fox News, Aljazeera, Philippines Star, South China Morning Post, National Interest, news.com.au, Wikipedia and many other international publications. Please consider donating, to support our social justice campaign, by clicking on the "Donations Page" button in the top menu.


One thought on “How to plan your business management succession

  1. I am studying to be able NDIS device serrvice provider!
    Can someone please put me onto a Legitimate Business?????

    Posted by starmwg | April 19, 2023, 17:05

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