This study aimed to qualitatively examine the concept of succession planning and its relevance in ensuring the posterity of organizations. The study adopted a descriptive qualitative method in examining its aim; hence explored relevant related literature on the following themes; organizational management and environment, challenges addressed by succession planning, the role of succession planning in an organization, the role of human resources in succession planning, models for succession planning, methods of developing managers for succession planning, succession planning pitfalls, and the resource-based view theory perspective to succession planning as a strategic tool to organizational posterity. The study made findings, recommendations, as well as developed a succession planning model that is relevant in optimizing the succession planning practices that would guarantee a continued viable posterity for organizations.