A lack of succession planning is the main reason so many family businesses break down.
The company has a succession plan in place for the retirement of the chairman.
Financial and business terms. 2012.
Succession planning — Management Succession PlanningIn organizational development, succession planning is the process of identifying and preparing suitable employees through mentoring, training and job rotation, to replace key players such as the chief executive… … Wikipedia
succession planning — sucˈcession planning 7 [succession planning] noun uncountable (business) the process of training and preparing employees in a company or an organization so that there will always be sb to replace a senior manager who leaves … Useful english dictionary
succession plan — succession planning UK US noun [U] HR, WORKPLACE, MANAGEMENT ► the process of finding suitable people and preparing them to replace important executives in an organization when these executives leave or retire : »A lack of succession planning is… … Financial and business terms
SUCCESSION — SUCCESSION, devolution of the deceased person s property on his legal heirs. Order of Succession The Pentateuchal source of the order of succession is If a man die and have no son, then ye shall cause his inheritance to pass unto his daughter.… … Encyclopedia of Judaism
Succession — The action of one party, person or product being replaced by another that has become obsolete, incapacitated, retired or deceased. Ideally, a successor will fill the role of its predecessor, being fully compatible with all other entities in place … Investment dictionary
Individual development planning — (IDP) is the annual process, tied to business planning and the budget cycle, whereby the management in an organization establishes training goals and plans for the members of the organization.IDP is related to: * Performance appraisal * Talent… … Wikipedia
Ethnic succession theory — is a theory in sociology stating that ethnic and racial groups will be the targets of neighborhood segregation only until they achieve economic parity. This group will then move on and be replaced by a new ethnic group in a similar situation.… … Wikipedia
War of the Spanish Succession — Philip V of Spain and the Duke of Vendôme commanded the Franco Spanish charge at the Battle of Villaviciosa by Jean Alaux (1840) … Wikipedia
estate planning — estate plan·ning n: the arranging for the disposition and management of one s estate at death through the use of wills, trusts, insurance policies, and other devices Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. estate planning … Law dictionary
management succession — UK US noun [U] ► HR, MANAGEMENT, WORKPLACE the planning of how to replace a manager of a company or organization: »With limited management succession plans in place, organizations are often unprepared for the impact of losing key employees … Financial and business terms
