Current term
5.6.4 Succession planning
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Level 1
- 1. Structure
- 2. Marketing and sales
- 3. Operations
- 4. Information
- 5. Human resources
- 6. Finance
Level 2
Level 3
Level 4
Succession planning
Definition
How to prepare for new roles and foreseen and unforeseen vacancies. For closely-held businesses, succession often includes issues of ownership structure, management, organization design and exit planning.
Similar Terms
- Talent management
- Emergency succession plan
3 Good Questions
- How well documented is everyone's work?
- How long can we endure job vacancies?
- What makes an employee irreplaceable?
Approved Resources
- Book: Business Succession Planning for Dummies
- Blog post: What is a Nine Box Grid?
- CMTP Best practices post: How Can You Prepare Your Successor for the Top Job?
- Article: Succession Planning Toolkit
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