Dynamics of succession planning for Indian family-owned businesses: learning from successful organizations

摘要

The concept of succession planning includes identification of future leaders, change of ownership, transition of control and management, and development of leaders (top managers and C-suite positions) in synchronization with organizational vision. In a way, succession planning provides long-term continuity and sustainability to an organization. Succession planning is of utmost importance because it impacts everyone in an organization, right from the boardroom to the smallest teams of the organization. Succession planning becomes rather crucial for large groups, as they contribute in the economic performance of the nation.