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BBB: Why succession planning matters
- The Better Business Bureau is introducing a summer program consisting of three sessions aimed at helping business owners navigate leadership changes and establish a lasting legacy.
- Many leaders postpone planning for the future leadership of their business, creating potential risks and instability if they leave without a well-defined succession strategy.
- Succession planning involves formalizing systems, delegating responsibilities, and tightening financials to strengthen businesses for sale, transfer, or unexpected leadership changes.
- Mechele Agbayani Mills, BBB Central East Texas president, said, "Succession planning isn't just about transition," stressing it as a strategic part of ongoing business leadership.
- Implementing succession plans helps reduce confusion and vulnerability for employees and supports sustainable growth, while lacking plans leaves business futures to chance.
11 Articles
11 Articles
What does success look like to me?
Youth Voices Different people perceive success in unique ways because their values, objectives and life experiences shape their understanding. For me, true success comes not from wealth or status alone but through personal fulfillment and growth along with having a positive influence on others. This perspective takes into account all aspects of life and determines success through the lens of personal happiness along with the quality of relation…
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BBB: Why succession planning matters
Every business owner has a vision of success, whether it’s serving their community, providing for their family, or building something that outlasts them. Yet many leaders wait too long to answer a critical question: What happens to the business when…
Why succession planning matters: Begin with the end in mind
Every business owner has a vision of success— whether it’s serving their community, providing for their family, or building something that outlasts them. Yet, many leaders wait too long to answer a critical question: What happens to the business when I step away? Succession planning isn’t just about a final chapter— it’s a strategic part of your business journey.
Finding the next boss requires a great deal of experience and an objective method. A consultant describes what's particularly important when searching for the right candidate.
“A lawyer must know in depth the investiture of the heir and its consequences,” says family cameraman Graciela Moreno de Ugarte. From the initial writing to the role of the administrator: practical guide to what should be known about successions The succession process is a subject of great relevance to the population, since it involves [...]
Harnessing Leadership Assessment to Select and Onboard High-Performing Executives - Hunt Scanlon Media
Choosing the right senior leaders is among the most critical responsibilities for boards of directors and their organizations. These executives define the organization’s direction, shape its culture, drive strategic decision-making, and have a direct impact on overall performance. Despite this, many organizations continue to rely on outdated selection processes, informal ‘interviews’, and gut instincts to choose successors for key roles, accordi…
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