Issues involved in succession planning

Question

What are the issues involved in succession planning?

Answer 1

The issues involved in succession planning are:
1.  There is a persuasive argument that passing on family businesses to the next generation demolishes family relationships and businesses.
2.  If the workers retire or exit on the basis of other grounds, the culture and dynamics of the business will change without doubt.
3. The assumption is organisations will need to hire externally to fill operational gaps coming up as they undergo change.
4.  Businesses can progress forward by optimising the role of their existing management, workforce and staff.