Business Succession Planning For Dummies Cheat Sheet

An organization develops a succession plan to ensure that it has qualified candidates to replace people in key positions who leave for any reason, such as retirement, illness, or taking another job. In short, a succession plan is a plan developed to help protect an organization’s future. Organizations of any size or type can develop a succession plan in six steps. But the work isn’t done when a successor has been found; part of succession planning is making sure that the successor transitions into the position as smoothly as possible — for the sake not only of the successor but also of the organization.