Team Deliverable 2 - Succession Planning Part One - Group 7

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TEAM DELIVERABLE 2: SUCCESSION PLANNING – PART ONE 1 Team Deliverable 2: Succession Planning—Part One 11/07/2023 BMGT 365 7380 Organizational Leadership Dr. Irwin, Professor

TEAM DELIVERABLE 2: SUCCESSION PLANNING – PART ONE 2 Introduction As LSN evolves, leadership changes can be mitigated through a carefully executed succession plan that coaches and mentors the next generation of leaders. With the upcoming lucrative expansion opportunity for Saudi Arabia and interest in the new development of cosmetic and food lines, a succession plan will help steer future LSN leaders in the direction of success. By implementing a well-developed, formal succession plan, the company will experience organizational sustainability while preserving continuous business operations (Flowers, 2017, “Why Participate in Succession Planning?” para. 1). Through succession planning, LSN will encourage a seamless leadership transition. Within the next 12–24 months, LSN plans to fill five key leadership positions, making succession planning indispensable. For over 100 years, LSN’s vision to help consumers achieve maximum health and well-being using only the most natural sources has been guided by four core values: Customer-Centricity, Innovation, Knowledge, and Sustainability. The first core value, customer-centricity, focuses on creating positive customer experiences. The leadership traits require team members to be dedicated to the company and place a premium on speed, flexibility, and the ability to lead in uncertain situations (Stockton et al., 2014, “Developing 21 st Century Leadership Skills,” para. 2). The core value of innovation requires LSN leaders to have the competency to bring their team together. As a cohesive unit, employees are empowered and inspired to develop new ideas and approaches to their work, express creativity, and collaboration (UMGC, n.d., “Differences Between Management and Leadership,” para. 2). The third core value, knowledge, requires leaders who possess a commitment to lifelong learning, which enables leaders to initiate and foster change (Kirkpatrick & Locke, 1991, p. 55). By fostering a lifelong commitment to learning, leaders will maintain flexibility and adaptability and demonstrate in-depth and up-to-

TEAM DELIVERABLE 2: SUCCESSION PLANNING – PART ONE 3 date knowledge of the company, industry, and technical matters. The final core value of LSN is sustainability. Leadership competencies that align with sustainability include an understanding of ethics, the ability to exhibit integrity, and promoting diversity and inclusion. LSN leaders are expected to be competent in global leadership, in addition to their ability to demonstrate flexibility, open-mindedness, cultural interest, and sensitivity (SHRM, 2008, “Essential Leadership Competencies,” Fig. 2). Succession Planning as part of Mission, Vision, and Strategy It is important that LSN align its succession plan with its mission and vision. Each of these aspects relates to the purpose, values, and future growth plans of an organization. Along with communicating an organization’s purpose and values, the mission and vision statements create a target for strategy development and provide a bridge between the mission and the strategy (UMGC, n.d., “Key Roles of Mission and Vision,” paras. 2–3). The succession plan outlines the leadership competencies that LSN requires of its employees to ensure the mission and vision statements are met. Combined, these aspects should reflect the organization’s goals while keeping the best interests of its business, consumers, employees, and stakeholders in mind. Whereas the mission and vision statements detail the reasons behind the existence of an organization, the strategy should be directly based on LSN’s vision, since the strategy intends to achieve the vision, thereby satisfying LSN’s mission (UMGC, n.d., “Mission, Vision, and Goals,” para. 3). It is important to develop the succession plan with clear and constant communication about LSN’s strategy. A well-developed succession plan, together with the mission and vision, will help communicate LSN’s purpose to its stakeholders, ensure goals and

TEAM DELIVERABLE 2: SUCCESSION PLANNING – PART ONE 4 objectives are met, and determine whether the strategy is on track (UMGC, n.d., “Mission, Vision, and Goals: Conclusion,” para. 1) In addition to LSN’s mission, vision, and strategy, the succession plan should incorporate strategic thinking. Through strategic thinking, LSN will be able to achieve its goals more rapidly, as well as benefit from recognizing and taking advantage of windfall opportunities (Bianca, 2021, “Missing Opportunities,” para. 1). Strategic thinking will ensure LSN has well-trained, experienced, motivated, and capable talent ready and able to step into key positions as needed. As it defines the manner in which an organization accesses, views, and creates its future, strategic thinking is an extremely effective and valuable process (Center for Simplified Strategic Planning, Inc., 2008, para. 1). The skills used in strategic thinking, such as focus, flexibility, and the ability to be proactive, will benefit LSN as part of its succession planning. Recommendations The position of sales director requires an individual who possesses a strong commitment to diversity and inclusion. More importantly, the Sales Director of LSN should possess global and cultural intelligence and the competency to conduct business in Saudi Arabia (Stockton et al., 2014, p. 12). While working in Saudi Arabia, the Sales Director must demonstrate self- awareness, adaptability, and flexibility. As a leader, the sales director must utilize cross-cultural communication skills and have a stable personal life with added technical skills (SHRM, 2008, “Global Leadership Competencies,” para. 2). A combination of multiple leadership competencies will ensure the sales director can successfully and effectively conduct cross-cultural business.

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