Succession: Next Up?
In sports, the term “next up” means that a team has the depth to replace a key player, who is hurt or retires. In the business world, most CEOs and business owners do not place a priority on identifying a successor. In other situations, traditional succession methods have excluded women or people of color. This can endanger any business, especially in unpredictable economic times. As importantly, a weak or no bench or lack of planning, endangers family (particularly among African- Americans) wealth, and community (especially underserved urban and rural areas) well-being. This workshop will focus on the issue in hospitality, restaurant, and sports industries.