In business strategic planning, the third question is better phrased “How can we beat or avoid competition?”.In many organizations, this is viewed as a process for determining where an organization is going over the next year or more -typically 3 to 5 years, although some extend their vision to 20 years.In order to determine where it is going, the organization needs to know exactly
Succession planning is typically viewed as an executive level issue for big businesses–who will succeed whom as people leave the corporation for whatever reason. But making plans for what will happen if something happens to you is equally important when you’re the driving force – and maybe the only force – behind your small company.
Though it may not happen often, if you are a small business-to-business operation, you may have a customer bring up the issue of succession planning, especially if you are providing a critical support service. Be prepared to answer questions and put your customers’ minds at ease by letting them know that you have considered all possible eventualities and have taken steps to protect them.
