ELEV-FP 004: Business Succession Planning

ELEV-FP 004: Business Succession Planning

The following is the course description for the Business Succession Planning Course:

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.

Course Objectives:

Research has consistently demonstrated that when clear goals are associated with learning, it occurs more easily and rapidly. With that in mind, let’s review our goals for today.  

You Will:

At the end of this workshop, participants should be able to: 

• 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.

 

Target Student:

Course Core Competencies:

Module 1: Succession Planning vs. Replacement Planning

Topic A: What is Business Succession Planning?

Topic B: What is Replacement Planning?

Topic C: Differences Between

Topic D: Deciding What You Need

Module 2: Preparing for the Planning Process

Topic A: How to Set Parameters for the Planning Process

Topic B: Should You Establish a Committee?

Topic C: How to Gather Operational Data

Module 3: Initiating Process

Topic A: Develop a Mission Statement

Topic B: Develop a Vision Statement

Topic C: Choosing to Be a Mentor

Module 4: The SWOT Analysis

Topic A: Identifying Strengths

Topic B: Identifying Weaknesses

Topic C: Identifying Opportunities

Topic D: Identifying Threats

Module 5: Developing the Succession Plan

Topic A: Prioritize What the Succession Plan Will Address

Topic B: Set Goals and Objectives

Topic C: Develop a Strategy for Achieving Goals

Topic D: Draft the Plan

Module 6: Executing the Plan

Topic A: Assign Responsibility and Authority

Topic B: Establish a Monitoring System

Topic C: Identifying Paths

Topic D: Choosing Your Final Approach

Module 7: Gaining Support

Topic A: Gathering Data

Topic B: Addressing Concerns and Issues

Topic C: Evaluating and Adapting

Module 8: Managing the Change

Topic A: Developing a Change Management Plan

Topic B: Developing a Communication Plan

Topic C: Implementing the Plans

Topic D: Encouraging Growth and Development

Module 9: Overcoming Roadblocks

Topic A: Common Obstacles

Topic B: Re-Evaluating Goals

Topic C: Focusing on Progress

Module 10: Reaching the End

Topic A: How to Know When You’ve Achieved Success

Topic B: Transitioning

Topic C: Wrapping it All Up