Organizations with the greatest possibility of success also have the greatest possibility of failure. That is, the same behaviors and characteristics that maximize a company’s probability of notable success also maximize its probability of failure. The status quo stands firmly at odds with innovation, and the commitments of today often don’t align with the reality of tomorrow. In the past, we have relied on past performance to predict the future. Now we can’t.

In the past, leaders used the terms replacement planning and succession planning synonymously, but the two differ. Convincing decision makers to have a disaster replacement plan in the event that key individuals die or depart unexpectedly is not too difficult; persuading them to prepare people for advancement years ahead of their actual promotions presents more challenges.

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