LBA 154  BUSINESS SUCCESSION PLANNING

Module 1: Succession Planning Vs. Replacement Planning

• What is Business Succession Planning?

• What Is Replacement Planning?

• Differences Between

• Deciding What You Need

Module 2: Preparing for the Planning Process

• How to Set Parameters for the Planning Process

• Should You Establish a Committee?

• How to Gather Operational Data

Module 3: Initiating Process

• Develop a Mission Statement

• Develop a Vision Statement

• Choosing to Be a Mentor

Module 4: The SWOT Analysis

• Identifying Strengths

• Identifying Weaknesses

• Identifying Opportunities

• Identifying Threats

Module 5: Developing the Succession Plan

• Prioritize What the Succession Plan Will Address

• Set Goals and Objectives

• Develop a Strategy for Achieving Goals

• Draft the Plan

Module 6: Executing the Plan

• Assign Responsibility and Authority

• Establish a Monitoring System

• Identifying Paths

• Choosing Your Final Approach