Section Threethe future are not well defined. Nonetheless, the potential
strategic contributions of succession planning are substantial.^1
Assessment of Strategic Alternatives
As organizations’ human resources are utilized more frequently
as sources of competitive advantage, human resource planning
and forecasting will become more central to the strategic
planning process. It will be essential for human resource
executives or other executives to be able to forecast the future
availability of employees having knowledge in such critical
areas as technology. Companies that are developing a critical
mass of employees who are knowledgeable or skilled in a
particular technology may gain a potential source of
competitive advantage. Similarly, information regarding critical
employee knowledge bases provides important input for
strategy formulation. Conversely, given a particular strategic
alternative, it is useful for human resource executives, as well
as other executives, to be able to forecast the human resources
necessary to carry out various strategies.