Who’s Up Next? The Value of Succession Planning

Who's Up Next? The Value of Succession Planning by Laura Stack

One aspect of leadership that’s often overlooked is succession planning—the process of providing for future leadership in an organization. Few of us bother to think about what will happen after we've exited the scene, and frankly, many leaders don't care. But succession planning is crucial to any organization's long-term success. Some companies that have been around for centuries, such as Lowenbrau and the Hudson's Bay Company, have excellent succession planning traditions in place, which is in no small part a reason they have lasted for so many generations. As practiced in the modern business arena, this process essentially boils down to "buy or build." Either you hire proven leadership from outside as needed, or you cultivate new leadership from within. The second option provides gre … [Read more...]

Executive Excellence – Shaping Emerging Leaders as Productivity Resources

"Management is doing things right; leadership is doing the right things." -- Peter Drucker, Austrian management consultant and social ecologist. "Leadership and learning are indispensible to each other." -- John F. Kennedy, 35th U.S. President.   "Talent without discipline is like an octopus on roller skates. There's plenty of movement, but you never know if it's going to be forward, backwards, or sideways." -- H. Jackson Brown, Jr., American author.   Succession planning—i.e., providing for future leadership—is crucial to any organization's long-term success. Essentially, this process boils down to "buy or build." Either the organization hires proven leadership from outside as needed (often at the expense of loyalty), or it cultivates new leadership from the ground up. The s … [Read more...]