With succession planning,
business leaders have a choice.
They can promote from within
or they can look outside of the organization.
Which route to take?
It depends on what future challenges
the company will face.
Business succession expert
John Szold advises
to groom internal candidates for leadership
if the company expects the future
to be “business as usual”,
with
no fundamental changes.
If the business landscape is expected to change
dramatically
(the merging of tv and internet as an example),
then an outside candidate may
have the new skill sets required.