Succession planning is often viewed as a separate, long‐term task that is not linked to near‐ or mid‐ term consequences. Nothing could be less accurate. Due to the long lead time of many succession related activities, it can have significant impacts on near‐ and mid‐term resource availability, which can affect the number and type of other strategic initiatives that can be simultaneously pursued. Succession planning also affects your firm’s near‐ and mid‐term business continuity capabilities, because leadership and ownership succession can be involuntarily accelerated unexpectedly by a single event or accident. Read More
