Sample Business Succession Plan

Jaques developed a persuasive case for measuring candidates' ability to manage complexity, formulating a robust operational definition of business intelligence.The CIBC estimated that by 2010,

Jaques developed a persuasive case for measuring candidates' ability to manage complexity, formulating a robust operational definition of business intelligence.

The CIBC estimated that by 2010, $1.2 trillion in business assets would be poised to change hands.

"Bench strength", as it is commonly called, remains a stubborn problem in many if not most companies.

Studies indicate that companies that report the greatest gains from succession planning feature high ownership by the CEO and high degrees of engagement among the larger leadership team.

Companies well known for their succession planning and executive-talent development practices include: General Electric, Honeywell, IBM, Marriott, Microsoft, Pepsi and Procter & Gamble.

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Jaques developed a persuasive case for measuring candidates' ability to manage complexity, formulating a robust operational definition of business intelligence.The CIBC estimated that by 2010, $1.2 trillion in business assets would be poised to change hands."Bench strength", as it is commonly called, remains a stubborn problem in many if not most companies.Studies indicate that companies that report the greatest gains from succession planning feature high ownership by the CEO and high degrees of engagement among the larger leadership team.Companies well known for their succession planning and executive-talent development practices include: General Electric, Honeywell, IBM, Marriott, Microsoft, Pepsi and Procter & Gamble.Vacancies are anticipated and slates of names are prepared based on highest potential and readiness for job moves.Organization realignments are viewed as critical windows-of-opportunity to utilize development moves that will serve the greater good of the enterprise.Merck and other companies argue that a "talent mindset" must be part of the leadership culture for these practices to be effective.Organizations use succession planning as a process to ensure that employees are recruited and developed to fill each key role within the company.As one's organization expands, loses key employees, provides promotional opportunities, or increases sales, one's succession planning aims to ensure that one has employees on hand ready and waiting to fill new roles.According to a 2006 Canadian Federation of Independent Business survey, slightly more than one third of owners of independent businesses plan to exit their business within the next 5 years - and within the next 10 years two-thirds of owners plan to exit their business.

.2 trillion in business assets would be poised to change hands."Bench strength", as it is commonly called, remains a stubborn problem in many if not most companies.Studies indicate that companies that report the greatest gains from succession planning feature high ownership by the CEO and high degrees of engagement among the larger leadership team.Companies well known for their succession planning and executive-talent development practices include: General Electric, Honeywell, IBM, Marriott, Microsoft, Pepsi and Procter & Gamble.Vacancies are anticipated and slates of names are prepared based on highest potential and readiness for job moves.Organization realignments are viewed as critical windows-of-opportunity to utilize development moves that will serve the greater good of the enterprise.Merck and other companies argue that a "talent mindset" must be part of the leadership culture for these practices to be effective.Organizations use succession planning as a process to ensure that employees are recruited and developed to fill each key role within the company.As one's organization expands, loses key employees, provides promotional opportunities, or increases sales, one's succession planning aims to ensure that one has employees on hand ready and waiting to fill new roles.According to a 2006 Canadian Federation of Independent Business survey, slightly more than one third of owners of independent businesses plan to exit their business within the next 5 years - and within the next 10 years two-thirds of owners plan to exit their business.

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