Business Succession Planning by Eric Yeboah



How to develop a succession plan, How to plan succession for family business, Diversity succession plan etc.


What you'll learn
How to develop a succession plan
How to create a succession plan that support diversity
How to plan succession for a family business
The relationship between global crisis and succession planning
Overcoming challenges in succession planning
Business exit planning
Requirements
Desire to understand succession planning
No special requirement
Description
Succession planning is a process and strategy for replacement planning or passing on leadership roles. It is used to identify and develop new, potential leaders who can move into leadership roles when they become vacant. Effective succession or talent - pool management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression. In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions. Thought should be given to the retention of key employees, and the consequences that the departure of key employees may have on the business. The practice of business succession planning is conducted either by organizations themselves, or with the support of specialist management consulting firms. Succession planning helps organizations meet diversity and inclusion goals. Because succession planning allows organizations to strategically develop people to prepare them to take on more responsibility and higher positions, it removes barriers to internal advancement that may exist because of implicit bias. By making an effort to plan for the promotion of candidates from diverse backgrounds, you can ensure that you maintain equity throughout all levels of your organization. Perform competency evaluations that measure current team members leadership, technical skills, and readiness to step into new roles.
Overview
Section 1: Introduction
Lecture 1 Introduction
Lecture 2 What is succession planning
Lecture 3 Overcoming challenges in succession planning
Lecture 4 Succession planning process
Lecture 5 The relationship between global crisis and succession planning
Lecture 6 Why succession plans are key for business today
Section 2: How To Develop A Succession Plan
Lecture 7 Define objective of your succession plan
Lecture 8 Assess your current leadership situation
Lecture 9 Identify the potential successors
Lecture 10 Formulate a development plan for your successors
Lecture 11 Communicate your succession plan to stakeholders
Lecture 12 Align with top management
Lecture 13 Regularly review and update your succession plan
Lecture 14 Execute your succession plan
Section 3: How To Create A Succession Plan That Support Diversity
Lecture 15 Implement merit- based hiring and promotion
Lecture 16 Use validated assessment and standardized worksheet
Lecture 17 Benefits or using succession planning to increase diversity
Section 4: How To Plan Succession For A Family Business
Lecture 18 Identify your goals
Lecture 19 Designing your succession plan
Lecture 20 Implementing your succession plan
Section 5: Conclusion
Lecture 21 Business exit planning
Founders, directors, HR practitioners, consultants, CEO, managers, lawyers, government, entrepreneur, everybody etc.


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