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August 7, 2007 5.2 Page Brief MGT530 BA Succession planning is a part of the method of organizing for the future of a company. Every key position and key person in an organization is an applicant for a succession plan. The significant impact is that it is almost impossible to successfully promote someone unless there is a qualified person to take over the position being vacated. To effectively implement a succession plan, a company needs to consider a few elements: * What is the long-term direction of your company? * Do you have an effective strategic plan guiding your course and direction? * What are the key areas which require continuity and development of the people resources within your company? * How does the concept of succession planning fit into your strategies? * What...

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