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Recommended Reading: A solid planning resource for Succession

publication date: Sep 10, 2016
author/source: Dr. John Hogan CHA CHE CMHS

Business Succession Planning For Dummies (For Dummies (Business & Personal Finance)) Business Succession Planning For Dummies 

    by Arnold Dahlke

  5.0 out of 5 stars

A solid planning resource for Succession Planning, October 25, 2012

In my work as an educator and consultant, I work with both family businesses of various sizes and with traditional corporate structures.

Each of them have a common need - planning for the future by either growing their own talent or by identifying and addressing their weaknesses them by finding the right professionals to strengthen their businesses.

This means active succession planning, which sounds muck easier than it actually is.

I am not fond of the series titled "for Dummies" but some of these books do a credible job at simplifying the approaches needed to address the topic. This is one of them.

The book is in 5 main sections

1. What Is a Succession Plan, and Why Do You Need One?
2. Creating a Plan and Putting It into Action
3. Diving Deeper into Succession Planning
4. Keeping the Succession Ball Rolling
5. The Part of Tens

Each of these parts begins with a disarming but pertinent cartoon by Rich Tennant, which add to the relaxed atmosphere of the book itself. Early into the first chapter, the author asks a key question, where we are asked to consider what might happen without a succession plan. He answers that in a very concise way:

Succession planning plays a role in extending a family business into the next generation by resolving issues of responsibility and authority needed to succeed. It can allow a business to pass from one group to another in a sale by ensuring the operational, marketing, and financial and people services are maintained.

Succession planning requires flexibility, timing and a commitment to process. This book provides tangible tools and resources, while acknowledging some of the more intangible but very real emotional characteristics of change

Dr. Arnie Dahlke, the author, has both academic, business and experience credentials to justify his messages and the book offers a guide, using clear and succinct techniques.

I liked the "Where to Go from Here" at the end of the introduction, which summarizes the need and background for planning.

Succession planning often requires more than reading a book due to the very involved details of transition, but this is an excellent resource

Dr. John Hogan CHE CHA CMHS
Hogan Hospitality

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