Succession is a key issue in the core area of business administration, as it regularly occurs in the life cycle of every company. Despite the significance of the succession process, there are relatively few works in the literature that address the topic at a scientific level. Michael Olbrich conducts a general, theoretical-conceptual analysis and structuring of succession to contribute to foundational research in the field of decision-oriented business administration. After introductory modelings of the succession process that pertain to all forms of succession, the author focuses on the succession form of sale and demonstrates heuristically how an owner can shape their succession in a goal-oriented and decision-field-related manner.