Keeping it in the family: How to improve succession planning

Abstract

Purpose

Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Getting the right balance between short and longer‐term goals is critical for the well‐being of any business organization. For some, delivering success in the here and now is all that matters. However, concentrating almost exclusively on a quick fix or two is a dangerous game to play. Glory is likely to be fleeting at best when such an outlook prevails. Creating anything to endure demands a focus that extends well beyond the present. Companies shouldn't simply leave everything to chance, though. As US computer scientist Alan Kay once remarked, “the best way to predict the future is to invent it.” Succession planning is fundamental to any such philosophy. Obviously no one can know for certain what lies ahead. But having the right leaders with the right skills in the right roles does at least give an organization some hope of shaping its own destiny.

Practical implications

Provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Citation

(2011), "Keeping it in the family: How to improve succession planning", Strategic Direction, Vol. 27 No. 8, pp. 8-10. https://doi.org/10.1108/02580541111146803