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Planning Your Succession Management

One of the greatest challenges in business is passing the baton of leadership onto the next generation. It is not easy to find someone who has the same values and vision as you do whether from family members or employees. What’s more difficult is when your own children show little interest in taking over the business once you are gone. According to experts, there are four crucial steps every pioneer should take to solve this problem.

The first step is to plan ahead. Finding someone to succeed you does not take overnight. In fact, your plan may unfold only after several years of waiting. Therefore, perfect your succession plan by looking for potential people and grooming them to take over your position. The potential person may be one of your children or even one of your employees. Just make sure you train them in such a ways that they will treat the business the way you do.

During your planning stages, create a quality recruitment management team. A strong management is the secret to a successful business plan. Aside from the main players, you will need reserves just like in sports. This will give you the assurance that your successor will be supported by talented and skillful individuals.

To eliminate confusion and unnecessary misunderstandings, make it clear to your successor what his role will be once he has taken over the business. Show him what title he is going to hold and the responsibilities that come with it. Do this by giving him guidelines that reflect your own goals and expectations. Moreover, make it clear to your successor the exact point when he can take on the leadership role next to you.

Aside from building a good succession plan, you should also consider what your exit mechanism should be.

There are actually a lot of ways to exit once you have passed on the baton. One is to consider helping your successor purchase your company share. Another is to consider taking your money off the table. In simple terms, make sure you have a good liquidity plan before you make your exit.

In conclusion, whatever succession and liquidity plan you use, put in mind that these two factors are linked with each other. Therefore, have not only your company’s future in mind but your employees’ and family’s as well.

You may also want to view Kirsten Soh’s recent articles on business equipment such as the POS system and the restaurant cash register. Just click the links.

Latest Sample Project Management Plan News

BMO Asset Management Adds IBOR
The IBOR project took about three years to plan and put in place, says Healy. "It isn't a simple quick win," he says. "We had to run it like any other significant project – monitor it for its scope, have a good project manager, hold people accountable …
Read more on www.waterstechnology.com

Mumbai civic body increases budget, focuses on populist measures
But with no major announcements on how the BMC plans to improve roads, there are concerns about how this money is going to be spent. BMC Commissioner Sitaram Kunte told NDTV, "We plan to redevelop … For the first time, the corporation has allotted …
Read more on NDTV

Ingles Markets, Incorporated (IMKTA) news: Ingles Markets' Management …

Ingles Markets, Incorporated (IMKTA) news: Ingles Markets' Management
Statements made on this call include forward-looking statements as defined by and subject to the Safe Harbors created by federal securities laws. … In accordance with a longstanding company policy and in recognition of the extremely competitive …
Read more on Seeking Alpha

VisualCalc Announces New Retirement Planning Tool for Banks and Other
On top of this engine, the tool's user interface can be easily customized to incorporate the financial institution's branding and graphical standards, so that the calculator has a consistent “look and feel” with the institution's website and other …
Read more on PR.com (press release)

(MKTW) Revive Therapeutics Ltd. Grants Incentive Stock Options
Revive currently has 18,497,228 issued and outstanding common shares and accordingly can grant up to 1,849,722 stock options pursuant to its stock option plan. Including the grant announced today, Revive currently has 775,206 stock options outstanding …
Read more on Wall Street Journal

The Party Guide to Social Media Management in 20 Tips

The Party Guide to Social Media Management in 20 Tips
You wouldn't plan a real life party anywhere. You'd pick a venue that provides you with everything you … You can choose the best platforms to use for your business by researching which demographics hang out where and comparing them to your target …
Read more on Business 2 Community

BlogTalkRadio is Leading the Way with Branded Content
If Baker's assumption is accurate, then a number of print, digital, and broadcast outlets – both new and seasoned, including the Journal itself, The Washington Post, The Huffington Post, Slate, Business Insider, and The Atlantic – are in on this so …
Read more on BlogTalkRadio (blog)

Boulder officials say request for Xcel assets is just fine
Boulder city officials said there's nothing wrong with their letter to Xcel Energy Inc. about which of the utility's assets the city wants to condemn and buy. Boulder plans to condemn and buy these assets to create a new city-owned utility serving its …
Read more on Denver Business Journal (blog)

Latest Sample Project Management Plan News

2 proposals for Norwich's historic Reid & Hughes building still in the running
All three submitted their plans to the city on Jan. 10. “We had three good … “But you have the luxury of judging them against each other, and we felt one of the candidates was missing some of the local networking necessary to pull off a project like …
Read more on Norwich Bulletin

Organization works for constructive conversations about Ozark river issues
You perhaps read of the open houses held by the National Park Service concerning the Ozark National Scenic Riverways' General Management Plan. Maybe the “convoy of boats” to Powder Valley Conservation Nature Center. What you didn't read is that our …
Read more on STLtoday.com

Donner Metals Announces 0000 Private Placement Financing
Although management considers the assumptions and estimates, reflected in forward-looking information, to be reasonable, based on information currently available, there can be no assurance that such information will prove to be correct. … These risks …
Read more on Wall Street Journal

REPUTATION MANAGEMENT: Week #13 of the 26-Week Digital Marketing Plan [Edition 3.0]

REPUTATION MANAGEMENT: Week #13 of the 26-Week Digital Marketing Plan [Edition 3.0]

REPUTATION MANAGEMENT: Week #13 of the 26-Week Digital Marketing Plan [Edition 3.0]

In this book I am going to be focusing on ‘online reputation management’.

Online reputation management breaks down into 3 key areas:

1. Reputation Monitoring

This is pretty much about finding out who is talking about you or your brand and where they are doing it. I will be using some of the tools I have used in other books and show you exactly how to use them to track your name or brand. I’ll also introduce you to some specialist programs to help you in real tim

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SOCIAL MEDIA MANAGEMENT: Week #9 of the 26-Week Digital Marketing Plan [Edition 3.0]

SOCIAL MEDIA MANAGEMENT: Week #9 of the 26-Week Digital Marketing Plan [Edition 3.0]

SOCIAL MEDIA MANAGEMENT: Week #9 of the 26-Week Digital Marketing Plan [Edition 3.0]

Social Media Management is book number 9 of the 26-Week Digital Marketing Plan. Obviously it is important to get your brand registered on the different social sites so I will be discussing Facebook, Twitter and other big networks like LinkedIn, Google + and Pinterest.

It is important to register your brand out there as quickly as possible so no other similar business jumps ahead of you and registers under your brand first.

You need to know which the best networks are! While most bu

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Kinross Gold Corporation (USA) (KGC): Kinross' Management Presents at CIBC …

Kinross Gold Corporation (USA) (KGC): Kinross' Management Presents at CIBC
So at La Coipa for example we continue to have reserves there, but we've taken the position that rather than recreationally mine the remaining reserves, we are going to look at exploration potential in the district and reassess where we're going to go …
Read more on Seeking Alpha

Waste reduction grants avaiable
Since the beginning of this grant program in 2000, the OCSWMD has provided grants totaling over $ 96,300 toward equipment, educational materials, and other items that have helped businesses and nonprofits save money and reduce waste. … Grants will be …
Read more on Saukvalley

Fight over public servants' benefits is more about dollars than sense
But if union leaders thought Harper's frontman for this plan would turn the other cheek, they were wrong. Tony Clement, the president … Buried in this testy exchange is the government's broader plan to overhaul the management and culture of the …
Read more on Ottawa Citizen

Learning Management Solutions Discussed in New Cutting-Edge M&M Report Published at MarketPublishers.com


London, UK (PRWEB) November 15, 2013

Learning management systems (LMS) refer to different software applications that use web-based technology for the planning, management, delivery and appraisal of the process of learning. Recently, the demand for LMS has witnessed considerable increase due to the benefits such systems provide, namely the availability of learning content anywhere and anytime, their ability to integrate with external systems and, as a consequence, facilitate importing/exporting of learning content, the ability to provide learning for distributed learners, as well as the flexibility of learning.

At present, many organizations are interested in the integration of LMS into the learning process and development framework. Meanwhile, LMS providers take efforts to elaborate systems that have robust capabilities in order to extend the existing support for mobile and social learning.

New research report “Learning Management Systems (LMS) Market (Products (Content Management, Student Management, Performance Management, Collaboration, Administration), by Users (K-12, Higher Education, Corporate)): Worldwide Market Forecasts and Analysis (2013 – 2018)” worked out by MarketsandMarkets (M&M) has been recently published by Market Publishers Ltd.

Report Details:

Title: Learning Management Systems (LMS) Market [Products (Content Management, Student Management, Performance Management, Collaboration, Administration), by Users (K-12, Higher Education, Corporate)]: Worldwide Market Forecasts and Analysis (2013 – 2018)

Published: November, 2013

Pages: 195

Price: US$ 4,650.00

http://marketpublishers.com/report/services/other_services/learning-management-systems-lms-market-products-by-users.html    

The report provides an insightful qualitative and quantitative analysis of the global LMS market. It presents a comprehensive market assessment by products, verticals, deployment models and geography. The research study describes the current situation in the market, highlights the historical background of the market, examines the key factors driving and restraining the market, and outlines the main market challenges and opportunities. The report contains detailed value chain analysis, evaluates the competitive pressure in the market, profiles the leading companies, uncovers essential information on the recent mergers and acquisitions and venture capital funding. Moreover, the report offers market future outlook through 2018.

Report Scope:


    In-depth analysis of the global LMS market.
    Comprehensive market assessment by products, verticals, deployment models and geography.
    Historical and present data on the industry performance.
    Extensive examination of the key factors influencing the market growth.
    Discussion of the main market challenges and opportunities.
    Value chain analysis.
    Description of the competitive scenario.
    Detailed profiles of the leading market participants.
    Vital information on the recent mergers, acquisitions and venture capital funding.
    Market future outlook through 2018.

More new research reports by the publisher can be found at M&M page.







Find More Venture Capital Press Releases

Integrated Water Resource Management

The world is facing a water crisis that seriously affects production and living conditions, jeopardizing poverty reduction and sustainable development, particularly in poor countries of the world. In an increasing number of countries, water scarcity and deteriorating water quality have or will soon become critical factors limiting national economic development, expansion of food production and provision of basic health and hygiene services to the population. In these countries, limited water resources are managed poorly which results in inefficient use and deepens the water crisis there. The poor and marginalized groups in the society are often the most vulnerable to the water crisis. At the same time these groups have very limited means to improve their own situation through better management of the resources. Thus poor management of the water resources in some area has really affected social-economic activities there. However, these are issues associated with poor water management:

awareness and priority in political level is limited
Local government lacks the capacity to manage water resources.
In appropriate pricing structure.
Investment in water sector is low
Lack of data.
Institutional framework is rooted in centralized culture

This issue poses such challenges as
Meeting the basic water supply needs of the society.
Risk management, Conserving and protecting the eco-system.
Securing adequate food supply.

This has lead several countries into implementing integrated water resources management process as envisaged by international community during the world summit on sustainable development in Johannesburg 2002.

Uganda and Burkina Faso with international assistance have started implementing IWRM process resulting in new national policies. An article 26 WSSD state that countries should Develop IWRM and water efficiency plans by 2005, with support to developing countries .That is the focus in WSSD is on IWRM. The water efficiency plan is considered as important component of IWRM and hence as an integral part of the IWRM plan. Hence the important of IWRM in water resource development can not be over emphasized.

Water as a resource and its development and management is specific to geographical, historical, cultural and economic context of any country. Hence, IWRM processes will differ from country to country. For the developed countries of the world the national IWRM planning processes may well focus strongly on how to attain sustainability and restoration of the environment while developing and underdeveloped countries aim may be to achieve poverty alleviation.(MDGS)

IWRM uses three main tools to achieve it aim which are ; enabling environment, institutional roles and management instruments

I. THE ENABLING ENVIRONMENT

A. Policies ; setting goals for water use, protection and conservation. This part of the framework deals with water policies and their development.

B. Legislative framework ;the rules to follow to achieve policies and goals.

C. Financing and incentive structures ; allocating financial resources to meet water needs.

II. INSTITUTIONAL ROLES

A. Creating an organizational framework ; Starting from the concept of reform of institutions for better water governance.

B. Institutional capacity building ; developing human resources.

III. MANAGEMENT INSTRUMENTS

A. Water resources assessment ; understanding resources and needs.

B. Demand management ; using water more efficiently. Demand management involves the balancing of supply and demand focusing on the better use of existing water withdrawals.

C. Social change instruments ; encouraging a water-oriented civil society.

D. Conflict resolution ; managing disputes, ensuring sharing of water.

E. Regulatory instruments ; allocation and water use limits.

F. Economic instruments ; using value and prices for efficiency and equity.

G. Information management and exchange ; improving knowledge for better water management.

IWRM has its planning strategy for achieving its aims through the above mentioned tools which follows;

Initiation from government or team initiation through government. However any one can initiate the idea, the main concept is that it has government support.
This initiator must have an aim or vision
Situation analysis thus gathering of baseline information
Through situation analysis strategy will be developed
Necessary stakeholders will be involved
Implementation
Evaluation to assess the results of strategy implemented. This gives room for limitation mitigation during the next planning stage. IWRM is a cyclic process.

Okwudili J. Onuchukwu
B.Engr Civil Engineering
Passion : Environmental and Engineering issues
email : johncoolk3@yahoo.com