Succession planning means an ongoing process for ensuring the continuation and economic viability of a business over generations of owners or operators. It may include strategies to identify, develop, and empower the next generation of owners or operators, a plan to transfer business and family assets, and arrangements for each generation’s retirement and long-term care. Succession plans are fluid and may be reviewed and updated throughout the existence of the business.
Succession planning means making the necessary arrangements to ensure that suitably qualified people are available to fill posts which will arise within any specific department over forthcoming years.
Succession planning. The Challenge of What’s Next,” Jan. 2013, page 44 ■ “Planning and Paying for Partner Retire- ments,” April 2012, page 28 ■ “Traps for the Unwary in CPA Firm Merg- ers and Acquisitions,” Aug. 2011, page 36 ■ “Mergers & Acquisitions of CPA Firms,” March 2009, page 58, and “Keeping It To- gether: Plan the Transition to Retain Staff and Clients,” April 2009, page 24 (two-part article) Use xxxxxxxxxxxxxxxxxxxx.xxx to find past articles. In the search box, click “Open Ad- vanced Search” and then search by title. Publication ■ Management of an Accounting Practice Handbook (#090407, loose-leaf; and #MAP-XX, one-year online subscription) CPE self-study ■ Advanced Mergers, Acquisitions, and Sales: Complex Case Study Analyses for place me.” A better approach is to require adequate notice be given for an owner who wants to retire coupled with a clear plan for transition of client management re- sponsibilities. Usually, it takes at least a two-year notice to provide enough time for clients to become familiar—and comfortable- — with a successor. If the new relationship doesn’t stick, the firm has time to assign a new successor. ❖ Closely-Held Businesses (#732868) ■ Making Key Financial Decisions: Practical Tools and Techniques for Making Your Key Financial Decisions (#733835) Conference ■ Practitioners Symposium and Tech+ Conference, June 9–11, Las Vegas For more information or to make a purchase or register, go to xxx0xxx.xxx or call the Institute at 000-000-0000. Survey reports
Examples of Succession planning in a sentence
Succession Planning: Once the key management team is formally in place and operational, we will immediately begin succession planning whereby individuals who play a key role in the executive management of the development company, or who are instrumental in the design and development of Nouveau Kiskeya, prepare a succession plan and training outline to identify key personnel and processes by which their successor will be identified and trained.
More Definitions of Succession planning
Succession planning means making the necessary arrangements to ensure that suitably qualif ied people are available to fill posts which will arise within any specific department over forthcoming ye ars.
Succession planning means the process for identifying and developing new or current personnel who can replace personnel when vacancies occur.
Succession planning means activities and related planning for replacement of program and organizational leadership.
Succession planning means structured career development of employees
Succession planning in this policy means making the necessary arrangements to ensure that a suitably qualified person is available to fill the County Attorney position over forthcoming years.
Succession planning in this policy means making the necessary arrangements to ensure that a suitably qualified person is available to fill the Clerk to Council position over forthcoming years.
Succession planning means a strategy used by organizations to pass leadership roles down to another Employee or group of Employees. The process ensures that operations continue to function efficiently without the presence of people who were holding key positions following retirement, resignation etc.