Succession planning
Succession planning is like playing a game of pretend with your toys. Just like how you pretend to be the boss of your toys and tell them what to do, a company also has a boss who is in charge of everything. But what happens if the boss suddenly can't play with the toys anymore? Maybe they get sick or have to go on vacation.
That is where succession planning comes in! Just like how you pick out a toy to be in charge when you can't play with them, a company also picks out someone to be in charge if the boss can't play with them anymore. It's like having a backup plan so that everything can still run smoothly even if something unexpected happens.
So, the company will think about who would be the best person to take over the boss's role if they can't play with the toys anymore. They will train that person so that they know how to be the boss and make smart decisions. This helps ensure that the company can continue to run smoothly even when the original boss is no longer able to play with the toys.
That is where succession planning comes in! Just like how you pick out a toy to be in charge when you can't play with them, a company also picks out someone to be in charge if the boss can't play with them anymore. It's like having a backup plan so that everything can still run smoothly even if something unexpected happens.
So, the company will think about who would be the best person to take over the boss's role if they can't play with the toys anymore. They will train that person so that they know how to be the boss and make smart decisions. This helps ensure that the company can continue to run smoothly even when the original boss is no longer able to play with the toys.