succession plan
Future leader strategy
A succession plan is a strategy for transferring leadership or ownership when key people leave an organization.
Companies develop succession plans to ensure smooth transitions when executives retire, die, or depart unexpectedly: The board questioned whether the CEO had a succession plan in place.
Family businesses use succession plans to pass control to the next generation.
- recruitment processesMethods for acquiring new staff
- mentorship programsStructured expert-novice pairings
- executive coachingPersonalized development for leaders
- passing the torchTransferring responsibility to another
- business sustainabilityLasting commercial environmental stewardship
exit strategy · heir apparent · next in line · corner office · performance evaluations · diversity initiatives · family business · silver tsunami · stakeholder engagement · emergency preparedness · knowledge transfer · bench strength · talent pool · organizational charts
- planningplanners, to-do lists, calendars, scheduling, prepare
- business plansroadmap, blueprint, playbook, growth strategy, exit strategy
- family businessfamily business, family enterprise, family ownership, family legacy, family council
- successionheir apparent, heir presumptive, primogeniture, predecessor, next in line
- Organizational Legacybrand equity, patents, trademarks, founding story, traditions
- succession planningheir apparent, bench strength, talent pipeline, candidate pool, interim leader
succession plancrisis management
Handling urgent threatening situations
emergency response · firefighting · improvisation · damage control · scrambling
succession planpower vacuum
Absence of governing authority
abrupt transition · brain drain · hostile takeover · discontinuity · coup
succession, plan, succeed, success, successful, successfully, unsuccessful, successive, successively