- Published: 02 April 2007
- Hits: 1879
Succession planning has become a key competitive weapon in its own right through its impact in building a strong culture where new leaders are constantly identified and developed. But succession planning programs as currently practiced focus on competencies that are mainly social, professional and personal in nature and focus too little on business acumen. In order for succession planning programs to achieve their full potential they must integrate the development of business acumen so that they are directly linked with the building of shareholder value. This is the case both for SPPs conducted at the C-level, and for those that, increasingly, are focused on executives below it, including high potential managers.