OBJECTIVE OF STUDY AND COURSE CONTENT FOR Bsc. BUSINESS SUCCESSION PLANNING AND MANAGEMENT
The overall study objective is to formulate a broad planning and development framework setting out guidelines and standards for more effective and comprehensive planning for seamless business transition from one generation to another.
The study was created to help newbies and professionals to formulate independent thinking abilities, policies and strategies in helping their organizations and clients to effectively and seamlessly transit their business from one management era to another.
COURSE CONTENT
WEEK 1
DEFINITION ‘ BUSINESS SUCCESSION PLANNING AND MANAGEMENT
BREAKING DOWN ‘Succession Planning’
GROWTH AND SUSTAINABILITY
Key issues include:
Alignment of family interests
Estate and Inheritance issues
WEEK 2
WHAT TO DO? A FIVE-STEP PROCESS
Step 1: Establishing Goals & Objectives
Step 2: Establishing a Decision-Making Process
Step 3: Establishing the Succession Plan
Step 4: Creating a Business and Owner Estate Plan
Step 5: How to Create the Transition Plan
WEEK 3
HOW TO CREATE A BUSINESS SUCCESSION PLAN
Transferring a Business Cross-Purchase Agreements Method
Example: How a Cross-Purchase Agreement Works
Entity-Purchase Agreements
Example: How an Entity Agreements works
WEEK 4
3 REASONS TO HAVE A BUSINESS SUCCESSION PLAN
The Bottom Line
Cross-Purchase Agreement
BREAKING DOWN ‘Cross-Purchase Agreement’
Entity-Purchase Agreement
BREAKING DOWN ‘Entity-Purchase Agreement’
WEEK 5
BUY AND SELL AGREEMENT
BREAKING DOWN ‘Buy And Sell Agreement’
Limited Partner
BREAKING DOWN ‘Limited Partner’
Liability for General Partners
Qualified Retirement
BREAKING DOWN ‘Qualified Retirement Plan’
Business Continuation Insurance
BREAKING DOWN ‘Business Continuation Insurance’
WEEK 6
UNDERSTANDING LEADERSHIP FOR EFFECTIVE SUCCESSION PLANNING
BREAKING DOWN ‘Leadership’
Characteristics of Effective Leadership
Let’s see how some of the most respected business thinkers of our time define leadership, and let’s consider what’s wrong with their definitions.
So what is leadership?
WEEK 7
CORPORATE PENSION
BREAKING DOWN ‘Corporate Pension Plan’
WEEK 8
WHY PLAN FOR BUSINESS SUCCESSION?
When do you start planning, and how?
Goals and objectives
Decision making
Training
Estate planning
Contingency planning
WEEK 9
CORPORATE STRUCTURE AND TRANSFER METHODS
Business valuation
Exit strategy
What are your options?
Planning your succession
WEEK 10
SEEKING PROFESSIONAL SERVICES
What’s your business worth?
Selling a business
WEEK 11
CLOSING ACCOUNTS
WEEK 12
WHAT ARE THE ESSENTIALS OF A BUSINESS SUCCESSION PLAN?
Choosing a Successor
What Is the Valuation of the Business?
Asset approach
Income approach
Market approach
The Importance of Life Insurance in a Business Succession Plan
WEEK 13
HOW TO TRANSFER A BUSINESS
What Are the Benefits of a Business Succession Plan?
Your 5-step succession planning checklist
WEEK 14
7 STEPS TO BUILDING A SUCCESSION PLAN FOR SUCCESS
WEEK 1
INTRODUCTION AND DEFINITION
‘Succession Planning’
A strategy for passing each key leadership role within a company to someone else in such a way that the company continues to operate after the incumbent leader is no longer in control. Succession planning ensures that businesses continue to run smoothly after the business’s most important people move on to new opportunities, retire or pass away.
