Friday, March 20, 2009

Importance of Succession Planning

Succession Planning is important in politics as well in Business. WE come across so many public spats in Business and politics alike about rebellions.

Well to avoid that there are various strategies that can be used by leaders. Delegation of authority and sharing of power and decision making can keep the squabbles at bay.

In a conglomerate it becomes easy to share power between generations by making each son in charge of a separate division or companies or group of companies.

So if you don't want your son or daughter to make a public disgrace of the family business make plan as soon as your son is 25 or daughter is 21.

1 comment:

Manuj said...

Well said. In architectural lingo we should think before drawing that very first streak by pencil. Looking forward to more on this.