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10 Tips For Managing Your Time
10 Tips For Managing Your Time
By Mark Wardell
1. Plan the following day at the end of each day. This is the
time your mind is most clear. If you try to plan your day in the
morning, you become distracted by your e-mail, your...
Managing Transformational Change within the Public Sector
Pick up any public sector journal, read any sample of CPA reports and you will undoubtedly see reference to a Change or perhaps 'Transformational' Programme. Council departments are quickly becoming 'Departments of Change Management' and senior...
Non-Profits Need New Strategies to Weather Budget Crisis
Non-profits everywhere are facing very difficult times as government funding is dwindling and public need for services is increasing. Sitting at my local county budget hearing on recently, it was quite obvious that many organizations are in panic...
The Project Management Mindset
Project management as a science and art is undergoing key transformations as a result of countless stories of failed projects, cost overruns, and canceling that project that took 2 years of your employee's lives. Needless to say, these scenarios...
To all Managers: How does ADD affect your workplace?
Tent caterpillars create a cocoon for an entire colony. Within one colony there are two types of caterpillar. One type, pioneers, weave long threads forming the skeleton of the tent. The others, the workers, weave cross threads filling in the...
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Succession - Three Tips to Ease The Transition
Succession - Three Ways to Ease the Transition
The succession process can cause havoc in the family business and the family. Especially if the process occurs only once and without a significant investment in planning. Here are three ideas to help ensure success for your family business. 1. Hire the most competent advisors (attorneys, accountants, financial planners and family business experts you can find and afford.
Succession planning is a complicated process and requires different kinds of expertise. Not every professional service advisor has the special training and experience necessary.
For instance, few lawyers, accountants, family therapists and psychologists are specifically trained or experienced in this field. You may wish to consider using family business experts to act as a quarterback for the succession planning process. All too frequently different advisors to the family business owner develop costly and ineffective sequential solutions to the complexities of succession. If someone is selling elevators, escalators are usually never recommended as a means of transporting people within a building.
2. Business valuation is a critical element of succession planning.
There are many reasons to value a business. Unlike socks where one size fits all, one valuation does not fit all situations.
A valuation for sale to the next generation of family has different formulas than a valuation for sale to someone outside the family. Yet a different
formula would be used for estate tax planning purposes.
Depending on the purpose of the valuation, costs can vary significantly. Less complicated valuations done for planning purposes can be very affordable.
Some family business owners value the business every year as part of their strategic planning process. Others use the valuation as a means for determining performance based compensation for key executives (phantom stock) rather than choosing to dilute the ownership of the stock to a non family key executive.
3. Funding is often a hidden or non recognized cost of succession planning.
It is important to understand that the business may need to grow significantly in order to pay the transition costs which include taxes, insurance, professional advisors, setting up trusts and purchasing the business stock. Or, funds that would be available for expansion or to pay out to the family will have to be retained in the business for the transition. Either way, planning for this cash flow requirement will ease the transition.
A good rule of thumb is that the business needs to grow by at least 20 percent more than the normal growth pattern to offset the costs of succession without disrupting the profitability and cash flow of the business.
About the Author
Don A. Schwerzler and David Jones ar Partners at the Family Business Institute - a special resource for family-owned and closely held businesses (http://www.family-business-experts.com).
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Strategic Planning (in nonprofit or for-profit organizations) |
Adapted from the Field Guide to Nonprofit Strategic Planning and Facilitation. ... First, a Point About For-Profit and Nonprofit Strategic Planning ... |
www.managementhelp.org |
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Basic Description of Strategic Planning (including key terms to know) |
Adapted from the Field Guide to Nonprofit Strategic Planning and Facilitation. ... Strategic planning often includes use of several key terms. ... |
www.managementhelp.org |
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Strategic Planning, Strategic Plan, Business Strategy, Strategic ... |
Strategic planning advice with free strategic planner & sample strategic plan covering mission statement, SWOT analysis with business plan software for cash ... |
www.planware.org |
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Strategic Planning |
FAQs regarding strategic planning - geared primarily toward non-profit organizations but with enough detail and general information to provide useful ... |
www.allianceonline.org |
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Frequently Asked Questions |
Strategic Planning · Fundraising · Financial Management · Risk Management · Credit Card Acceptance. The FAQs (Frequently Asked Questions) listed on this ... |
www.allianceonline.org |
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Strategic planning - Wikipedia, the free encyclopedia |
Strategic planning involves defining objectives and developing ... Strategic planning uses "the big picture" to pursue large scale, long term objectives. ... |
en.wikipedia.org |
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08/26/96 STRATEGIC PLANNING |
You guessed it: strategic planning. Suddenly, the idea of rising above the ... But if strategic planning is back with a vengeance, it's also back with a ... |
www.businessweek.com |
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Dr. Strategy - Dr. Pete Johnson, Keynote Speaker, Marketing ... |
StrategicPlanning.com “Turning Change Into A Competitive Advantage”. Dr. Pete's Preview Video Click Here. Take-Away Value Sample Program Handouts ... |
strategicplanning.com |
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Strategic Planning Society: Strategy Development and Implementation |
Strategic Planning Society: Strategy Development and Implementation. |
www.sps.org.uk |
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Guide 7 |
Strategic Planning in Smaller Nonprofit Organizations ... In short, as a result of a strategic planning process, an organization will have a clearer idea of ... |
www.wmich.edu |
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STRATEGIC PLANNING MANUAL |
File Format: PDF/Adobe Acrobat - View as HTML |
Your browser may not have a PDF reader available. Google recommends visiting our text version of this document. |
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BPubs.com: Strategic Planning & Business Planning Articles |
Business Publications related to Corporate Strategic Planning. |
www.bpubs.com |
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Strategic Planning Tools |
Strategic Planning is a method for positioning an organization to take ... A strategic planning process incorporates an in-depth planning model that takes ... |
www.nsba.org |
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Center for Simplified Strategic Planning, Inc. |
The Center for Simplified Strategic Planning offers training, seminars, consulting, speakers, workshops, a book and a newsletter on strategic management for ... |
www.cssp.com |
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LEADERSHIP: Strategic Planning and Strategic Management |
Introduction: Is strategic planning really worth it? ... The purpose of strategic planning is to encourage thinking about your organization's "big ... |
vskn.ca |
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The CEO Refresher Archives - Strategic Planning |
When done right, the integrated strategic planning process can take a ... Strategic Planning and Project Management: The Key to Successful Implementation ... |
www.refresher.com |
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HEFCE : Publications : 2000 : 00/24 - Strategic planning in higher ... |
This guide reviews good practice in strategic planning in higher education (HE). It originated in a consultation exercise which we held in 1998 to review ... |
www.hefce.ac.uk |
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The Association for Strategic Planning |
The Association for Strategic Planning (ASP), is a non-profit professional society whose mission is to enable people and organizations to succeed through ... |
www.strategyplus.org |
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Amazon.com: Strategic Planning for Nonprofit Organizations: A ... |
Amazon.com: Strategic Planning for Nonprofit Organizations: A Practical Guide and Workbook: Books: Michael Allison,Jude Kaye by Michael Allison,Jude Kaye. |
www.amazon.com |
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Amazon.com: Simplified Strategic Planning: A No-Nonsense Guide for ... |
Amazon.com: Simplified Strategic Planning: A No-Nonsense Guide for Busy People Who Want Results Fast!: Books: Robert W. Bradford,Robert W. Bradford,J. Peter ... |
www.amazon.com |
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