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Succession Planning

7 Reasons to Plan for Succession in Your Family Business Today

Shuly Oletzky | Posted 10.04.2016 | Business
Shuly Oletzky

Creating a succession plan makes the future of your business and your intentions clear to everyone involved. Understanding intentions seems simple and of little impact, but the importance of knowing what the current president or CEO wants cannot be stressed enough.

Future Capability Planning in Action: Bosch's Acquisition of Battery-Maker Seeo

George Bradt | Posted 09.09.2016 | Business
George Bradt

If you're not going to follow up your long-term strategic planning with future capability planning, don't even bother starting the strategic planning ...

How One Family Business Strengthened Its 'Core' -- and Saw Profits Take Flight

Verne Harnish | Posted 08.26.2016 | Business
Verne Harnish

Successful athletes work every day to build a strong core. Family-run growth firms must do so, too -- only their core is their culture. Building a strong culture depends on articulating their core values in a meaningful way, so these principles don't end up as just a Boy Scout-like, generic list posted on a wall.

CEO Succession: The Real-Life Game of Thrones

David Reimer | Posted 06.29.2016 | Business
David Reimer

ew leadership transitions trigger a more immediate sense of uncertainty and risk for most of us than the replacement of the CEO at one's organization. The less clear the criteria, the more widespread the intrigues. The less managed the process, the greater the ensuing commotion.

Succession Planning for Business: What You Need to Know Now About the Call You Never Want to Make

Eliot M. Wagonheim | Posted 05.15.2016 | Business
Eliot M. Wagonheim

Psychics aren't the only people asked to predict the future. When it comes to succession planning, lawyers ask their business clients to do it all the time. My discussions about succession planning often start out somewhat reminiscent of Alice's chat with the Cheshire Cat in Lewis Carroll's Alice in Wonderland.

The Search for a New Nonprofit CEO Needs To Be Realistic

Eugene Fram | Posted 04.10.2015 | Business
Eugene Fram in its October 11, 2012 issue carries an op-ed item by Nathan Bennett and Stephen Miles titled, "Is your Board About to Pick the Wrong CEO." Although targeted to for-profit boards, all of the five items listed can be applied to nonprofit boards. Following are my applications to nonprofit boards.

With Global Volatility It's Time to Review Your Policies

Charles J. Alaimo | Posted 03.22.2015 | Business
Charles J. Alaimo

As someone who travels fairly often for business, I was at first shaken by what occurred in Paris and have to say thought twice about traveling anytime soon, but thankfully that passed.

Improve Your Success With A Succession Plan

Michelle Brennan Hall | Posted 11.25.2014 | Small Business
Michelle Brennan Hall

It comes down to communication and realistic financial expectations that lead to successful transitions. Here are a few steps to start with the end in mind.

A PS to Harvard Business Review Blog Post: Boards Can Be Terrible at Their Most Important Job

Eugene Fram | Posted 12.05.2014 | Business
Eugene Fram

In any organization, top management changes cause staff insecurity and unrest. Old comfortable patterns will be broken. Resistance to change will likely occur. Board members must provide strong support for changes that are needed.

How To Groom Your Successor

Josh Patrick | Posted 09.21.2014 | Small Business
Josh Patrick

I know that when I think about a successor it brings up all sorts of unpleasant thoughts. I bet the same is true for you. You might wonder how someone will ever be able to take over what you built?

Should You Think About an ESOP?

Josh Patrick | Posted 08.28.2014 | Small Business
Josh Patrick

I'm a big fan of ESOPs, or Employee Stock Ownership Plans. In the right circumstance an ESOP might just be the ticket you've wanted to help you leave ...

Selling Your Business Is a Risky Affair

Josh Patrick | Posted 08.24.2014 | Small Business
Josh Patrick

You need to know how your business size fits into the world of business transfers. If your business does less than five million dollars buyers are likely to want you to hold paper either through a sellers note or an earnout.

When Taking the Company Public Is Personal... Think Twice

Marcy Syms | Posted 08.02.2014 | Business
Marcy Syms

Many private business owners when looking at an improving economy and buying into the hype of initial public offerings get seduced into taking their companies public without being fully aware of what they're getting themselves into.

Can Nonprofit Boards Suffer From Agenda Deficits?

Eugene Fram | Posted 07.11.2014 | Business
Eugene Fram

In a recent study of 772 for-profit and nonprofit directors from around the world, McKinsey & Company found that 25% of the sample assessed their boar...

The Class of 2014 Is the Succession Plan for the Future

Caroline Dowd-Higgins | Posted 07.05.2014 | College
Caroline Dowd-Higgins

Millennial-aged graduates must enter the career world armed with tools and strategies to distinguish themselves from the pack. I share this wisdom to help you find your way in the world-of-work so you can thrive.

How One Family Owned Company Is Solving the Succession Problem

Gene Marks | Posted 07.05.2014 | Small Business
Gene Marks

Emotions, squabbles, fights and the like are pretty common, even among some of the most successful family operated companies. But if there's one thing that any member of a family business can agree on is this: Who's going to take it over when the current generation retires?

Does the Nonprofit CEO Need to Go??

Eugene Fram | Posted 05.24.2014 | Business
Eugene Fram

Volunteer directors are loathe to be confrontational when a CEO has been marginally satisfactory for a number of years, preferring to avoid the "drama" that inevitably accompanies the "changing of the guard."

Mind the Gap: Important Knowledge for Every Leader to Have

Terri L. Baumgardner, Ph.D. | Posted 05.04.2014 | Business
Terri L. Baumgardner, Ph.D.

It is time for the company's annual talent review meetings. The CEO and his or her team sit around the boardroom table preparing to discuss each of th...

Hit by the Bus: How to Protect Your Business, Your Family and Yourself

Jack Garson | Posted 02.10.2014 | Business
Jack Garson

The challenges of succession -- both professionally and personally -- don't go away if you ignore them. The need for planning exists. The results are worse if you ignore the difficulty.

Microsoft's Coming CEO Transition And 7 Step Succession Planning

George Bradt | Posted 11.10.2013 | Business
George Bradt

There are all sorts of ways to manage CEO transitions. Whichever way you choose, make sure you're getting ahead of the curve on the most monumental su...

Leaders Open Doors for Others

BJ Gallagher | Posted 07.17.2013 | Business
BJ Gallagher

Bill Treasurer is one of my favorite business authors - not just because his books are good - but because he reminds me of the Wizard of Oz - his work always offers three important elements: brains, heart, and courage.

Am I the Only One Feeling Sympathetic for Kim Jong-un?

Gene Marks | Posted 06.26.2013 | Small Business
Gene Marks

Kim Jong-un? I know how he feels. Really, I do. If you run a small business, you have to feel a little sympathy for the guy.

Time for Succession Planning Is Running Out With Looming Expiration of Bush Tax Cuts

Steven Abernathy | Posted 12.29.2012 | Money
Steven Abernathy

By Jan. 1, 2013, not only will millions of people owe up to 20 percent more in estate taxes, but their options for asset protection will be significantly worse, as everything over $1 million will be subject to the highest rate of taxation. Not fully exploring your options now could prove very costly.

Managing Former Peers

Ron Ashkenas | Posted 01.16.2012 | Business
Ron Ashkenas

Sometimes a promotion can suddenly change your relationship with co-workers from "peer" to "boss." It's not an uncommon scenario. However, when this happens it often creates an awkward and uncomfortable set of dynamics, and there's no blueprint for how to manage them.

Take Your Boss's Job - With Their Help

Fred Whelan and Gladys Stone | Posted 05.25.2011 | Business
Fred Whelan and Gladys Stone

If moving up the ladder is important to you, then part of managing your career is preparing yourself to succeed your boss. Just because you've been...