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| family business succession planning template: Business Succession Planning For Dummies Arnold Dahlke, 2012-04-10 The fast and easy way to get a handle on business succession planning While the demand for effective managers continues to grow, the retirement of baby boomers is producing a sharp decline in the ranks of available management personnel. In addition, the executives of the future are expected to be more sophisticated in order to develop and lead new global and technological initiatives. For these reasons, strategic and often long-sighted succession planning for the eventual replacement of managers at all levels has reached a critical level. Business Succession Planning For Dummies aids managers, human resource professionals, and upper management in cultivating and retaining their existing employees to ensure the availability and capability of persons to assume leadership roles in the future. In plain English, it prepares business owners to ask the difficult questions when it comes to developing a working succession plan for their businesses key positions. This book also offers information on how to retain and train personnel within an organization so that a more seamless transition can be made when a senior leader or other important personnel retires or leaves the organization. How to retain and train personnel for a more seamless transition Easy-to-follow guidance on developing a working succession plan Tips to create a plan to save time, money, knowledge, and clients by hiring from within If you're a manager or human resources professional looking to develop a working succession plan, this hands-on, friendly guide has you covered. |
| family business succession planning template: Family Business: Practical Leadership Succession Planning Ronald P. Smyser, 2014-09-02 Less than 15% of family businesses survive to and through the second generation of leadership. Family Business: Practical Leadership Succession Planning provides valuable insights to (1) demystify and simplify the process of succession, (2) help ensure continuing financial security for you and your family and (3) enhance the effectiveness and balance of your professional and private life. For example, you will learn: The fifteen key causes of leadership succession failure and how to avoid them. How ownership transition without a clear, practical leadership succession plan can decimate your businesss chance of survival. The value of practical, effective delegating skills to creating a seamless leadership succession and a healthy, future business. How reprioritizing your professional time can enhance your leadership impact, your leadership succession, and your private life. What your next generation really wants but wont tell youand what you should do. The issues of choosing one of your children to succeed you, and how to avoid them. Where and how to acquire or develop leadership candidates throughout your business, including your successor position. The key perils of trust funds and why you should avoid them. Much, much more. Whether you already have a family business or are starting one, Family Business: Practical Leadership Succession Planning is a must read. |
| family business succession planning template: Harvard Business Review Family Business Handbook Josh Baron, Rob Lachenauer, 2021-01-26 Navigate the complex decisions and critical relationships necessary to create and sustain a healthy family business—and business family. Though family business may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most significant and numerous in the world. But surprisingly few resources exist to help navigate the unique challenges you face when you share the executive suite, financial statements, and holidays. How do you make the right decisions, critical to the long-term survival of any business, with the added challenge of having to do so within the context of a family? The HBR Family Business Handbook brings you sophisticated guidance and practical advice from family business experts Josh Baron and Rob Lachenauer. Drawing on their decades-long experience working closely with a wide range of family businesses of all sizes around the world, the authors present proven methods and approaches for communicating effectively, managing conflict, building the right governance structures, and more. In the HBR Family Business Handbook you'll find: A new perspective on what makes family businesses succeed and fail A framework to help you make good decisions together Step-by-step guidance on managing change within your business family Key questions about wealth, unique to family businesses, that you can't afford to ignore Assessments to help you determine where you are—and where you want to go Stories of real companies, from Marchesi Antinori to Radio Flyer Chapter summaries you can use to reinforce what you've learned Keep this comprehensive guide with you to help you build, grow, and position your family business to thrive across generations. HBR Handbooks provide ambitious professionals with the frameworks, advice, and tools they need to excel in their careers. With step-by-step guidance, time-honed best practices, and real-life stories, each comprehensive volume helps you to stand out from the pack—whatever your role. |
| family business succession planning template: Family Business Succession C. Aronoff, S. McClure, J. Ward, 2017-06-30 Helps to prepare for passing the family business on to the next generation. Leaders will learn how to create a succession plan; how to develop opportunities for succession candidates; how to build consensus with the family and leaders on succession plans and finally leaders will learn when and how to let go of their own role in the business. |
| family business succession planning template: Who Will Take Over the Business? Susan Latremoille, Peter Creaghan, 2011-09-06 As the first wave of Canadian baby boomers retire over the next few years, succession planning will be vital for the long-term survival of many businesses. Canada is about to see a huge transfer of wealth from this generation to the next, yet many businesses struggle to ensure a smooth transition of business management and ownership. For family-owned companies, the ramifications may be even more sweeping. The personal issues they face, compounding other day-to-day business concerns, range from planning for income taxes to maintaining interpersonal relationships with family members. A good succession plan will manage a range of issues, such as people and talent, family dynamics, corporate structure, estate planning, insurance and share transfer, to name just a few. Who Will Take Over the Business? is for any business owner who wants to retire, sell, or transfer ownership of their business. It is designed to guide business owners through a comprehensive and strategic approach to the business succession process to ensure that the transition is carried out as smoothly as possible. Who Will Take Over the Business? is a must-have resource for every Canadian business owner. |
| family business succession planning template: Effective Succession Planning William Rothwell, 2010-04-21 William Rothwell honored with the ASTD Distinguished Contribution Award in Workplace Learning and Performance. The definitive guide to a timely and timeless topic-- now fully revised and updated. As baby boomers continue to retire en masse from executive suites, managerial offices, and specialized or technical jobs, the question is—who will take their places? This loss of valuable institutional memory has made it apparent that no organization can afford to be without a strong succession program. Now in its fourth edition, Effective Succession Planning provides the tools organizations need to establish, revitalize, or revise their own succession planning and management (SP&M) programs. The book has been fully updated to address challenges brought on by sea changes such as globalization, recession, technology, and the aftereffects of the terror attacks. It features new sections on identifying and assessing competencies and future needs; management vs. technical succession planning; and ethics and conduct; and new chapters on integrating recruitment and retention strategies with succession planning programs. This edition incorporates the results of two extensive new surveys, and includes a Quick Start guide to help begin immediate implementation as well as a CD-ROM packed with assessments, checklists, customizable guides, and other practical tools. |
| family business succession planning template: The Succession Solution Bradley Franc, 2019-04-22 If you are a business owner, or you are working with one, then this book is for you. The Succession Solution provides both an explanation of the importance of succession planning, as well as a practical, straight-forward, and proven system that can be used to continue your business to the next generation, whether your successor is a family member(s), an employee, or a third party.This book will show you how to achieve a successful transition of your business to the next generation of leaders. In fact, if you read and follow the steps outlined in this book, you will dramatically improve the survival and prosperity of your company's future. |
| family business succession planning template: Getting Organized Christy Anderson Brekken, Joe Hobson, 2019-12-05 |
| family business succession planning template: Family Business Succession K. LeCouvie, J. Pendergast, 2017-07-03 The first ever comprehensive guide to family business succession planning. This book covers everything from what family business ownership is and how to structure ownership bylaws to business structure, leadership transition, and how a founder exits the business. Drawing on original research, case studies, and white papers, Family Business Succession is a thorough, complete, and required reading for every family member working in a family business. |
| family business succession planning template: Dynastic Planning Walid S. Chiniara, 2020-05-06 This book is designed to be a guide to demystify the journey leading to preserving family legacy. It is based on the fact that a family business is a partnership among its members, and that the most successful family business succession plan is the one devised by the family itself. In this book, the author shares his unique experience working with hundreds of business families and next-generation family business entrepreneurs from across the world. His 7-Step MethodologyTM offers an innovative and a systemic approach to family business succession planning and related conflict management. It focuses on the importance of maintaining an open dialogue among family members, and it paves the way to a structured conversation among those interested in achieving an orderly transfer of wealth from one generation to another. The author further discusses the elements that traditionally cause tensions among partners who happen to be family members, and offers solutions that have been tried and tested over two decades and that are based on real-life examples and success stories. This text is designed for families in business who wish to start a succession planning conversation and to family business advisors invited to facilitate such a conversation. |
| family business succession planning template: Generation to Generation Kelin E. Gersick, 1997 Generation to Generation will help managers understand the special dynamics & challenges that family businesses face as they move through their life cycles. It explains how to handle succession, & the role of non-family professionals. |
| family business succession planning template: Family Business Transformation Stefan Märk, Mario Situm, 2024-06-17 Family businesses play a pivotal role in the global economy, and their successful development is of utmost importance. This first volume of the Contemporary Issues in Family Business Entrepreneurship series, focuses on the topic of family business transformation, which is causing drastic changes in companies' strategies and business models. Decisions to adapt or change family business strategy and/or the business model are always associated with risk. Family Business Transformation integrates work on the broad topics of transformation, strategy development, business model development, with the study of family businesses to provide family business owners, managers and entrepreneurs much-needed recommendations from best practice examples and/or empirical findings that can support decision-making in regard to the future direction of their companies. This book calls for a specialized examination of the social interactions among stakeholders, substantially expanding classical management theory. Scholars of family business, entrepreneurship and strategic management, institutional libraries and postgraduate students will find it an essential read and benefit from its insights. |
| family business succession planning template: Taking Over Mitchell Kaneff, 2011-01-04 In 1997, family business owner Mitchell Kaneff became the CEO of his own family's business, Arkay Packaging. Negotiating complex succession issues, family politics and emotional fallout with relatives he'd known all his life, Mitchell became convinced there had to be a more effective - and less stressful - way to alleviate the powerful transition themes that can so often derail a family business. Mitchell emerged successful - although not unscathed - and the idea of writing about his experiences to help other people took hold. The result: Taking Over: Insider Tips from a Third Generation CEO, a compilation of the many experiences - both his own and those of his friends and associates - Mitchell recorded over the years. In Taking Over, Mitchell brings fresh insights and practical tools to anyone involved in family businesses today - regardless of their role. With its unique use of family anecdotes, combined with Mitchell's strong business acumen, Taking Over is a must-read for anyone involved in - or interested in becoming a part of - a family business today. |
| family business succession planning template: Saving the Family Cottage Stuart Hollander, Rose Hollander, David S. Fry, 2017-03-27 Estate planning for family cottages and cabins When family members inherit a vacation home together, problems are often unavoidable, given that the new co-owners may have different financial circumstances or emotional attachments to the family cottage or cabin. But you can head off damaging family squabbles by developing a legal structure (typically an LLC) to take care of the business of ownership. Whether you’re planning to pass on a cottage to your children, or you’ve inherited a cabin with your siblings, Saving the Family Cottage provides practical, legal solutions for preserving a beloved family property for generations to come. You’ll learn how to: keep the peace (and avoid fights) among siblings over jointly-owned property prevent a family member from forcing a sale of the cottage or cabin keep your vacation home out of the hands of in-laws and creditors, and make a smooth transition from one generation’s ownership to the next. The fifth edition is updated to reflect current tax laws, including state property tax laws which affect choice of legal entity. It also includes an expanded discussion of legal issues when renting a family cottage or cabin on Airbnb, VRBO, or similar rental services. |
| family business succession planning template: Succession Planning for Financial Advisors David Grau, Sr., 2014-06-02 This book is going to challenge you and everything you think you know about succession planning. For independent advisors, succession planning is quickly becoming the cornerstone to a strategic growth strategy designed to perpetuate their business and their income streams beyond their own lifetime, while providing a multi-generational service platform that attracts and rewards younger advisors. This makes succession planning one of the most, if not the most, important practice management tools in this industry today. As an independent financial advisor, now is the time to address the question of what will happen to your practice and your clients after you “exit the building.” In most cases, the answers are right in front of you. Thankfully, Succession Planning for Financial Advisors: Building an Enduring Business has arrived to transform today’s practices into businesses designed to endure and prosper and serve generations of clients. Learn how to create a “Lifestyle Succession Plan” that can provide a lifetime of income and benefits to the founder even as he/she gradually retires on the job Unlock the power of equity management – the best planning and building tool an independent advisor owns Learn how to attract and retain the best of the next generation to help you build a great business and to support your succession plans and care for your clients and their families Determine precisely when to start a formal succession plan and related continuity plan so that your business can work for you when you need it most Understand why succession planning and selling your business are completely different strategies, but how they can complement each other when used correctly 95% of independent financial service professionals are one owner practices. To the positive, these practices are among the most valuable professional service models in America. But almost all advisors are assembling their practices using the wrong tools – tools borrowed from historically successful, but vastly different models including wirehouses, broker-dealers, and even OSJ’s and branch managers. Revenue sharing, commission splitting and other eat-what-you-kill compensation methods dominate the independent sector and virtually ensure that today’s independent practices, if left unchanged, will not survive the end of their founder’s career. It is time to change course and this book provides the map and the details to help you do just that. For independent practice owners and staff members, advisors who want to transition to independence, as well as accountants, attorneys, coaches and others involved in the financial services space, there are invaluable lessons to be learned from Succession Planning for Financial Advisors. Written by the leading succession planning expert in the financial services industry, former securities regulator, M&A specialist, and founder of the nationally recognized consulting and equity management firm, FP Transitions, David Grau Sr., JD, has created an unmatched resource that will have an enduring and resounding impact on an entire industry. |
| family business succession planning template: Passing the Torch Wanda Pina-Ramirez, Norma Davila, 2015-05-22 Don’t wait for a crisis. Maintain business continuity with a succession plan. One hundred percent of top global companies—and 72 percent of all companies—have a formal succession planning process. If your company is in the minority, a move in the right direction is easier than you may think. Authored by talent development experts Wanda Piña-Ramírez and Norma Dávila, this workbook highlights the importance of knowledge transfer in a time of fierce competition for talent, an aging workforce, and a critical shortage of people with the right set of skills. Indispensable for the CEO as well as the small business owner, Passing the Torch presents stories from the boardroom to the family-owned bakery, and from the car dealership to the beach resort hotel. This is a book for all with a stake in maintaining the livelihood of a business and contains templates to guide you through the seven steps of the succession planning life cycle. In this book, you will learn: why all companies, regardless of industry or size, must create a succession plan how to create a business case to guide your company through the succession planning life cycle how to identify key positions and retain key people in your company |
| family business succession planning template: Exit Right Mark Voeller, Linda Fairburn, Wayne Thompson, 2002 |
| family business succession planning template: Trapped in the Family Business Michael A. Klein, Michael A Klein Psyd, 2012-03 In this honest and practical guide, Michael Klein shares his research findings and insights on how individuals get trapped in their family business, why they don't leave, and what can be done about it. Based on interviews with family business members, owners, and their advisors, Trapped in the Family Business sheds light on this common yet unexamined problem and offers solutions--Page 4 of cover. |
| family business succession planning template: Sudden Death Checklist Jack Veale, 2016 A workbook for Business Owners, their family and advisors to prepare the company and family for their sudden death or severe disability |
| family business succession planning template: Business Succession Planning and Beyond Joe M. Goodman, Dirk R. Dreux, 1997 This guide will assert the estate planner to work with business owners or other family members as they plan for succession. |
| family business succession planning template: Strategic Planning for The Family Business R. Carlock, J. Ward, 2001-01-29 Family business planning has traditionally centered on two issues - estate planning and succession. These goals are far too limited for today's family firm. Business families want to turn the business into not only a tool for profit, but for self-expression, innovation and legacy. The authors introduce the new concept of the Parallel Planning Process, explaining how to integrate the needs and expectations of the family and business systems in order to create an organic and entrepreneurial unit. Planning and decision making templates are included as well as studies of well-known family businesses. |
| family business succession planning template: Strategic Planning for the Family Business Randel S. Carlock, Craig E Aronoff, 2001-04-21 From small start-ups to giant multinationals, from the Mom-and-Pop owned barber shop to Ford, family owned businesses continue to dominate the world economy. Regardless of size, running a successful family firm presents unique challenges, and many fail to survive the transition to the next generation. Here is a practical, comprehensive guide to ensuring success through effective strategic planning. The authors provide a wealth of tested, easy-to-follow tools and techniques for mastering strategic planning for family-owned firms. Filled with real world examples, case studies, checklists, and planning worksheets, the book shows how to deal with a host of emerging challenges--from new technologies and globalizing marketings--by integrating family values and dynamics into sound planning and management. |
| family business succession planning template: Family Entrepreneurship Matt R. Allen, William B. Gartner, 2021-04-05 This book provides recent ideas, insights, facts, evidence, frameworks, and perspectives on how and why entrepreneurial families are successful over generations. The book focuses on how families successfully implement entrepreneurship across generations. That success, it argues, requires entrepreneurship at the level of the family, not only in the businesses the family owns and manages. Written by noted academics and consultants who are authorities on family entrepreneurship, the chapters provide a comprehensive exploration of the characteristics of successful entrepreneurial families, their motivations, how they behave over time, and, suggestions for how business families can encourage and sustain entrepreneurship. This comprehensive look at family entrepreneurship will serve as a fundamental reference text for family business consultants, owners, and scholars. |
| family business succession planning template: The Lawyer's Guide to Succession Planning John W. Olmstead, 2016 This book provides guidance on succession and transition processes, approaches, and step by step action plans for solo practitioners, sole owners and members of larger law firms. |
| family business succession planning template: Next Generation Success , 2014-09-01 Preparing the next generation to inherit the family enterprise is the single most important determinant of a successful generational handoff. It depends significantly on both the senior generation and junior generation taking active roles in the preparation process. Specifically, what can each generation do to help develop the next generation? What does each generation want from the other throughout this journey? These and related questions have been discussed by families from around the world every year since 1997 at the Families in Business program at Harvard Business School. Next Generation Success offers a convenient summary of these rich conversations between senior and junior generation members regarding what each generation can do to help the next generation develop as effective managers, owners and family members. The perspectives of both generations are compared over a 10 year period. Included are Professor John Davis' candid letters to both generations offering wisdom on managing the challenges-and enjoying the rewards-of successfully transitioning the family enterprise to the next generation. |
| family business succession planning template: Objectives + Key Results (OKR) Leadership; Doug Gray, 2019-11-07 OKR Leadership -- the process for managers and leaders to practice what matters - is the secret sauce that drives transformational leadership, employee engagement and the next generation of management consulting. Join the OKR Leadership movement today with this practical guidebook from an expert business psychologist and story teller. |
| family business succession planning template: When Family Businesses are Best R. Carlock, J. Ward, 2010-10-14 The authors explore how effective planning and communication helps business families around the world address growth challenges as they strive to become high performing multi-generation family enterprises. This book shows family businesses working together at their best. |
| family business succession planning template: Succession Planning Basics, 2nd Edition Christee Atwood, 2020-03-10 Design your succession planning strategy. Succession Planning Basics will equip you with the background and implementation tools you need to devise and execute a forward-thinking succession planning program for your organization. It offers theory, processes, and best practices for organizations embarking on a succession-planning project, addressing the basic concepts and steps for success. This book is for management professionals considering succession planning for their organizations, organizational development professionals at the beginning of their careers, human resources professionals wanting to move away from replacement hiring, and trainers needing a basic understanding of succession planning for employee development plans. This second edition looks closer at tools and new developments in software that can streamline planning efforts as well as updated best practices and considerations for addressing the needs of every generation when creating succession plans. Chapters include assessment tools, exercises, and job aids. Succession Planning Basics is part of ATD’s Training Basics series. |
| family business succession planning template: The Eternal Business Chris Budd, 2018-09-10 The question of 'what happens when I want to step away from all this?' is one that keeps many business owners awake at night. 'How does my entrepreneur story end in a way that preserves the good I’ve built up, and looks after the employees and clients?' For the owner who has spent a big chunk of their working life building up a business they passionately believe in, and nurturing staff they care about, traditional succession planning doesn’t work. Employee ownership is the new and better way of preserving your achievement. Done the right way, you can release value, preserve your legacy and pass on control without employees having to raise finance. Financial expert, podcaster and author Chris Budd recently sold his own business to its employees through the UK's Employee Ownership Trust. But the movement for employee ownership is global - and interest in this alternative succession route is growing fast. Employee ownership is about more than the ownership, however. It is about creating sustainable businesses. A focus on long-term sustainable profits; happy customers; happy employees. The Eternal Business lays out a system for a business - and its employees - to transition to employee ownership. It provides a model and pathway to follow so that the business continues - maybe forever! It will help anyone running or working in a business with a real purpose, and who is wrestling with the 'what next?' question. |
| family business succession planning template: Leadership Transitions: The Watkins Collection (4 Items) Michael D. Watkins, 2014-08-19 This Harvard Business Review collection features the best in leadership transitions from celebrated author and advisor Michael D. Watkins. Watkins, who has worked for decades guiding senior leaders into new roles to help them and their organizations succeed, is the author of the international bestseller The First 90 Days. With more than 400,000 copies sold worldwide and published in more than 25 languages, the book has become the standard reference for leaders in transition. In addition to the full digital edition (ebook) of The First 90 Days, this collection includes digital editions of Watkins’ other popular works: Your Next Move, which guides professionals through the most common career transitions; Shaping the Game, on how to lead effective negotiations; and his 2012 Harvard Business Review article, “How Managers Become Leaders.” Watkins, whose ideas have guided some of the world’s best leaders through successful transitions, is the chairman of leadership development consultancy Genesis Advisers. Drawing on the perfect combination of research and hands-on experience, he has spent the last two decades working with leaders—both corporate and public—as they transition to new roles, negotiate the future of their organizations, and craft their legacy as leaders. He was previously a professor at the Kennedy School of Government at Harvard, Harvard Business School, INSEAD in France, and IMD in Switzerland. |
| family business succession planning template: Who Will Take Over the Business? Susan Latremoille, Peter Creaghan, 2012-01-06 As the first wave of Canadian baby boomers retire over the next few years, succession planning will be vital for the long-term survival of many businesses. Canada is about to see a huge transfer of wealth from this generation to the next, yet many businesses struggle to ensure a smooth transition of business management and ownership. For family-owned companies, the ramifications may be even more sweeping. The personal issues they face, compounding other day-to-day business concerns, range from planning for income taxes to maintaining interpersonal relationships with family members. A good succession plan will manage a range of issues, such as people and talent, family dynamics, corporate structure, estate planning, insurance and share transfer, to name just a few. Who Will Take Over the Business? is for any business owner who wants to retire, sell, or transfer ownership of their business. It is designed to guide business owners through a comprehensive and strategic approach to the business succession process to ensure that the transition is carried out as smoothly as possible. Who Will Take Over the Business? is a must-have resource for every Canadian business owner. |
| family business succession planning template: Family Business Succession Stephen L. McClure, John L. Ward, Craig E. Aronoff, 2010-12-15 Preparing to pass the family business on to the next generation is perhaps the roughest and most critical challenge facing business owners. Yet most businesses don't realize that succession is a lifelong process of planning and management. Leaders will learn how to create a succession plan; how to develop opportunities for succession candidates; how to build consensus with the family and leaders on succession plans; and when and how to let go of their own role in the business. |
| family business succession planning template: Business Succession Planning Steve Goodman, |
| family business succession planning template: Family Business Succession Planning Insight Information Inc, 1998 |
| family business succession planning template: Succession Planning for Small and Family Businesses William J. Rothwell, Robert K. Prescott, 2022-10-04 Who will lead your organization into the future? Have you created the systems to properly implement required succession transitions? Have you put the financial tools in place to fund the transition? Do you want a plan that connects with your personal and company core values? When do you include timely planning related to strategy and talent issues? What are the appropriate communication strategies for sharing your plan? What legal issues need consideration related to the strategy, financial, and people aspects of succession? So, what is preventing you from starting this effort tomorrow? Small and family businesses are the bedrock of all businesses. More people are employed by small and family-owned businesses than by all multinational companies combined. Yet the research on small and family businesses is bleak: fewer than one-third of small business owners in the United States can afford to retire. Only 40% of small businesses have a workable disaster plan in case of the sudden death or disability of the owner, and only 42% of small businesses in the United States have a succession plan. Fewer than 11% of family-owned businesses make it to the third generation beyond the founder. Lack of succession planning is the second most common reason for small business failure. Many organizations often wonder where to start and what to do. Succession Planning for Small and Family Businesses: Navigating Successful Transitions presents a comprehensive approach to guiding such efforts. Small and family-owned businesses rarely employ first-rate, well-qualified talent in human resources. More typically, business owners must be jacks-of-all-trades and serve as their own accountants, lawyers, business consultants, marketing experts, and HR wizards. Unfortunately, that does not always work well when business owners embark on planning for retirement or business exits. To help business owners avert problems, this book advises on some of the management, tax and financial, legal, and psychological issues that should be considered when planning retirement or other exits from the business. This comprehensive approach is unique when compared to the books, articles, and other literature that currently exist on the market. This book takes on a bold and integrated approach. Relevant research combined with the rich experiences of the authors connects this thorough, evidence-based approach to action-based approaches for the reader. |
| family business succession planning template: Succession Planning for the Family Owned Business Mike Fager, Dave McKinney, 2007-12 Succession Planning for the Family Owned Business represents a comprehensive strategy for ensuring that your family business is passed successfully to the next generation. Within these pages, you will find everything you need to plan for the future of your small business as well as your family. |
| family business succession planning template: Succession Planning Demystified Wendy Hirsh, 2000 This book, which is designed for human resource (HR) practitioners, details the principles and applications of succession planning, shows how succession planning is conducted, and explains its place in relation to other HR processes and business priorities. The introduction describes the book's intended audience and provides a brief overview of the book's contents. Section 2 includes the following items: (1) definition of succession planning (the process by which one or more successors are identified for key posts and career moves and/or development activities are planned for the identified successors); (2) list of things organizations want from succession planning (improved job filling, active development of longer-term successors, auditing of the organization's talent pool, and fostering a corporate culture); and (3) key linkages between succession planning and other business strategies. The following are among the topics discussed in sections 3-7: (1) the mechanics of succession planning; (2) succession and HR strategy; (3) integration of succession with assessment, job filling, organizational development, and individual employees' development; (4) supporting and embedding succession; and (5) determining whether succession planning is meeting the challenge. Section 8 presents 13 practical tips for implementing succession planning. Case examples from published studies are appended. The bibliography lists 35 references. (MN) |
| family business succession planning template: Who Gets the Farm? Nick Shady, Ayesha Hilton, 2016-02-01 Want to avoid the heartache, financial loss and family breakdown caused by poor succession planning? If you're a member of a farming family, you already know what a big deal succession planning is and how most people shudder at the mere mention of it. No doubt, you've heard countless horror stories of succession planning gone bad. But there are also plenty of success stories where succession planning has helped everyone get what they want. In this book, author Ayesha Hilton and lifelong farmer Nick Shady will help you and your family create your succession plan with as little stress and confrontation as possible. In this practical guide, you will learn how to: - Get started with the succession planning process - Communicate with your family to minimise conflict - Deal with fairness and equity issues - Get the right experts to help you with the process - Avoid becoming one of the disaster stories shared in the case studies By following their practical guidance, you and your family can create and implement a sound succession plan that meets everyone's needs. This book is essential reading for all farming families. |
| family business succession planning template: Family Business Values C. Aronoff, J. Ward, 2016-04-30 It's so important that the generations to come understand and share in the founder's vision and philosophy. Authors Aronoff and Ward help leaders discover their own values and then they provide ways to infuse these values into the fabric of their business for generations to come. |
| family business succession planning template: Estates & Trusts Journal , 1997 |
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