A succession plan is one element of a finely executed business operation. Succession plans, like other important projects, must have the following attributes:

• A mission statement, supported by defined vision and values.
• A dedicated team for planning, design, implementation and follow-up (although the same people need not be involved at each stage.)

In different resources, you will see succession planning defined and described in different ways. Ultimately, each book puts their own spin on the methods, and your job is to determine which method is the best suited to your own organization. Here we present a model for succession planning. You will see elements of this plan in other models, sometimes called different things. As we already mentioned, your job today is to develop a deep understanding of how to develop and maintain a succession plan that works for your organization. We support those endeavors by championing your SUCCESS.