One advantage the business world has over politics and government is that, generally, the chief executive in a corporation has a role in choosing a successor. No public elections are needed, and jarring transitions are rare.
This may smooth the process from one leader to the next. But it brings dangers of its own, such as familiarity biases, procrastination, and instability at the top — and can create turmoil during the transition.
This is an issue for start-ups all the way to publicly traded multinational companies. Many leaders think about succession too late, and by the time they find someone, not enough time is left to get that person the proper experiences or the proper coaching and mentoring. So they say, "Okay, I'll send them off for training."
Unfortunately, you can't train somebody to be the leader of an organization that way. You have to invest time.