Succession planning - Making it happen

We provide a complete toolkit designed to help shareholders and management teams plan for the future.  And to make sure the planning process is built on the right foundations, it encompasses five concurrent but coordinated initiatives each with distinct objectives:-

Stage 1: Taking Stock

This will involve a series of interviews with key stakeholders individually and collectively.   Through this we will learn about your existing business position and plans , and personal and corporate goals.  It will also involve undertaking research into economic, industrial and market environment in order to gain an understanding of the conditions in which the business operates.

We will endeavour to determine those aspects of the business critical to the performance of the Company and possessing potential for improvement. These areas will be prioritised in the strategic planning process.  At the end of the review we will produce an outline assessment of the business and its activities including a SWOT analysis.

This will provide a common platform from which the management team can commence the review and further development of its strategic plans.

Stage 2: Planning and Timetable

This will involve planning and preparation for the strategic planning process. 
It will include: -

• Agreeing priorities to be tackled in the business planning process;
• Discussing and agreeing our outline assessment;
• Agreeing the structure, approach and timetable for the entire strategic planning process; and
• Agreeing the venue, times, participants, conduct and agenda for the workshop.

Stage 3: Workshop(s)

The aim of the workshops are to provide a forum for senior managers to formulate and agree the business’s objectives and the principal strategies to be deployed to achieve those objectives.  This will include: -

• Brainstorming strategic alternatives;
• Determining priorities for implementation;
• Agreement on Key Performance Indicators
• Agree forums for development of implementation plans

Apart from chairing these workshops we will assist in setting the agenda and providing ideas and input during discussions, and acting as a facilitator.

Stage 4: Strategy Implementation

 This will involve the formulation of detailed operational plans usually by the senior manager responsible for the relevant area of the business e.g., marketing – marketing director, customer service – operations director etc.  These managers must take steps to ensure full participation of his department personnel in this process so as to secure commitment.

Subsequent special board meetings will be arranged to agree operational plans, budgetary allocations and co-ordination.  We will also assist you formulate suitable incentive schemes for key personnel. As required.

Stage 5: Management and Control Procedures

At this stage a financial model/forecast will be developed for the business. Also, the design and development of any revised management reporting systems required.  A budget will be produced and agreed for the upcoming financial year.

Stage 6: Ongoing Management and Review

The process of ongoing management and review of implementation must be full integrated into the day-to-day management of the business.