Sat.Jun 22, 2024

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Is Succession Planning a Nice to Have or Must Have?

Peter Stark

We were working with a client on a leadership development program for their leaders when they asked us our thoughts about Succession Planning. Is it a ‘nice to have,’ like life insurance, or a ‘must have?’ They asked. Of course, we are on the must-have, but the real question is, how formal is your succession plan? Most organizations have a leader in mind who could step into a CEO role if an immediate need arises.

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The Coney Island problem

Seth Godin Blog

Disney theme parks created more than 20 billion dollars in revenue last year. Coney Island, not so much. Coney Island is dozens of small honky tonk vendors and attractions, an ecosystem, not a corporation. Independent local stores got hammered by the more organized stores in the mall and then by the centrally controlled Wal-mart and other box stores.

System 31