Building a successful business takes years of hard work, sweat, determination and perseverance. Hence, it’s equally important to ensure that such business continues to run efﬁciently even when the baton has to be passed by key position-holders. The passing of baton could be either an inter-generation transfer or setting up of an independent management (viz., management different from its stakeholders). Either of these could be achieved through a process of Succession Planning.
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