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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.[1][2] Succession planning in dictatorships, monarchies, politics, and international relations is used to ensure continuity and prevention of power struggle.[3][4] Within monarchies succession is settled by the order of succession.[3] In business, succession planning entails developing internal people with managing or leadership potential to fill key hierarchical positions in the company. It is a process of identifying critical roles in a company and the core skills associated with those roles, and then identifying possible internal candidates to assume those roles when they become vacant.[2] Succession planning also applies to small and family businesses (including farms and agriculture) where it is the process used to transition the ownership and management of a business to the next generation.[5]
^ abRichards, Leigh. "Strengths & Weaknesses of Succession Planning for Organizations". Chron.
^ abMenaldo, Victor (2016). The Institutions Curse: Natural Resources, Politics, and Development. Cambridge University Press. p. 317. ISBN 978-1316679470. Retrieved 1 October 2017.
^Helms, Ludger (2020-05-01). "Leadership succession in politics: The democracy/autocracy divide revisited". The British Journal of Politics and International Relations. 22 (2): 328–346. doi:10.1177/1369148120908528. ISSN 1369-1481. S2CID 216359401.
^Walsh, Grant (2011). Family Business Succession Managing the All-Important Family Component(PDF). KPMG Enterprise. p. 7.
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Summit". Arab News. April 24, 2017. "Hassan Jameel: Governance and successionplanning crucial in family businesses". Abdul Latif Jameel. April 3, 2018...
President/CEO of the company in a planned manner. SuccessionPlanning is but one of the many considerations when conducting exit planning. Company owners commonly...
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owner. ESOPs offer transitional flexibility that can facilitate successionplanning. Founders and main shareholders can sell to ESOPs all of their shares...
the original on 24 September 2015. Retrieved 30 November 2013. "Successionplanning for dummies". Daily Maverick. 14 December 2012. Retrieved 30 January...
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