Succession management refers to corporate level plans to ensure leadership continuity. Indian organizations are mainly classified under Family and Non- Family Groups . Both types of organizations are working to ensure a rigorous philosophy to at least fill the top level profiles with best talent. Talent management review, Succession Strategies and corporate governance strategies must be in line to ensure high quality succession management.
In many news articles, it was highlighted that many family firms are still looking for best successor in upcoming generations or years. Values , role and business acumens are some core issues for these business houses.