The death of the longest-serving and much-admired British monarch Queen Elizabeth II has prompted reflection on a life of duty and devotion. From the exact moment her eldest son became King Charles III, the meticulous leadership succession process planned years in advance began. It’s a monarchy masterclass. The Royal Household can teach business leaders much about this lost art of succession planning and successor preparation.
Preparing For Instant Power
Most executives crave power, but few are prepared when it comes, especially when it’s unexpected. You might be promoted after rapid growth, a scandal, or resignation. You may find yourself thrown into the deep end in a crisis. For example, during the pandemic, Zoom, Netflix, and Peloton lurched into the spotlight under the watchful eyes of regulators, analysts, media, and customers.
Businesses laboriously craft perfect plans to achieve success, yet few plan for succession. What happens if you’re acquired, go public, or…
This article was written by Nuala Walsh and originally published on www.inc.com