Take This Cue From Warren Buffett

http://www.insidearm.com/news/00007129-take-this-cue-from-warren-buffett/

Thanks to Verne Harnish, Founder & CEO of Gazelles and regular Fortune columnist, for calling my attention to Warren Buffett’s annual letter to the shareholders of Berkshire Hathaway Inc. Scroll to the end (page 26 of the PDF), where he has attached his biennial two page memo to managers, emphasizing his #1 priority, which is to have a clear succession plan for all of key people.

AP Photo/Seth Wenig

In a recent post I raised the issue of planning for a crisis. While I was referring primarily to a public relations crisis, this is another perfect example of something that should be worked out in advance, while heads are clear. If something were to suddenly happen to you, or to one of your key managers, is there a plan in place to deal with it?

Read the full post on Forbes.com

Take This Cue From Warren Buffett

Stephanie Eidelman

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