Unique Skill ID: KS4411Q6V17S75QFD27S

Succession Planning

Succession planning is a process for identifying and developing new leaders who can replace old leaders when they leave, retire or die. Here the planning is usually a close process, so that those who have been selected are not likely to know that they are on a succession list or chat. Succession planning can be defined as the 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 jobs when the incumbents leaveIn dictatorships, succession planning aims for continuity of leadership, preventing a chaotic power struggle by preventing a power vacuum. In monarchies, succession is usually settled by the order of succession. In business, succession planning entails developing internal people with the potential to fill key business leadership positions in the company.

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