GE Succession Management Case Study

Previously, the unexpected loss of an experienced leader without a timely replacement was extremely effecting the department. And just as Fibuch & Way (2012) suggested, the best solution to reduce those challenges is to cross-trained qualified employees within the organization for leadership roles. It is important also for organization to recognize and view their existing skill sets in terms of their future operations. Consequently, succession planning should be an essential element of organization's strategic

Management differs today than it did in the past. In the past, managers were considered “bosses” and their job mostly consisted of giving employees orders, monitoring performance and reprimanding unproductive behavior and misconduct. Many managers still manage employees in such fashion; however, some managers now tend to be more proactive and have changed managerial functions for the betterment of company operations and performance to accomplish organizational goals. Effective management for company success now entails guiding, training, supporting, motivating and coaching employees verses just demanding what

The Organizations have evolved over the years and from the Concept of people management they slowly have moved towards the concept of System managements and this is how an organizations needs to aim to grow and to succeed in growing complex market environment.

Analyzing GE’s corporate-level strategy from 2001 – present with Jeff Immelt as CEO, GE focuses on the growth and development platforms. Technology is the key driving force for GE’s future and growth. Advancements in industries such as energy, health and aviation fueled demand for cleaner and more efficient energy production. GE identified new markets with potential high-growth that offered attractive returns through strategic mergers and acquisitions. As CEO, Jeff Immelt established a process for identifying projects that offered attractive growth potential which were then nurtured and treated as special projects or initiatives that were not subject to strict budget constraints. Immelt introduced GE’s three strategic imperatives as: (1) sustaining its strong business model, (2) strengthening the business portfolio, and (3) driving its growth initiatives. www.ge.com

Organizational change in any company is difficult but for a company as large as GE such change most be extremely menacing; which is why, I am surprised I have never heard of this before! This sounds like a technique that should be taking corporate America by storm since everyone is trying to be more innovative and competitive in regards to price and quality. By creating a quick and empowering process that delivers success it sounds like cure-all to corporate fat, however the article uses a lot of adjectives to describe GE’s success with its workout routine and not a lot of numbers. Which is why I want to research this technique further and find some empirical data to back this technique. Now a potential reason for the lack of logistical backing

Succession planning helps organization to develop a backup plan. Rothwell (2016) described as a means of identifying critical management positions, starting at the levels of project management and supervisor and extending up to the highest position in the organization. It allows organization to select the best candidate for the best position and prepare them. Mlot and Sorensen (2013) HR organizations can have a significant impact on the succession planning process. Kroger is a leading grocery retailer that originally started in 1883 in Cincinnati, Ohio. Bernard Kroger mission was to be a leader in the distribution and merchandising of food, pharmacy, health and personal care items, seasonal merchandise, and related products and services.

Succession planning is one of the most important career development tools used by organizations. This is done to determine the backups for each senior position by identifying and training the executives who are at the next-lower levels. Succession planning is not always the easiest process. There are barriers that are affiliated with this process. The most challenging succession planning barrier that I foresee is choosing the successor. There are many talented qualified people in organizations today, the hardest part is weeding through all candidates and finding the best successor to replace the best person already in the role. This challenge is present in informal and formal succession planning. The best strategy to mitigate selecting the best possible candidate is to come up with a panel that can make decisions. This panel should consist of a representative of HR, a representative of the board of directors, and the candidate of the succeeding position if applicable.

According to Baridam (2001), it is not enough to review literature without presenting the studies by topic and determining how each of these topics relates to the researcher’s own study. A systematic presentation of the literature forms the foundation of the study.

Companies should formalize a commitment to diverse succession planning throughout the organization and viewing it as a broad-based strategic imperative instead of solely a human-resources function.

GE has to examine what strategy the firm is going to follow. Will the firm’s

Throughout history there have been many successful companies as well as companies that have been a debacle. The success of the company has to do with the management and how it executes its strategy. If the management is ineffective, the company will most likely fail; however, if the company has good management it is more likely to prosper. There are many responsibilities that a manager must complete, chief among them are the four functions of management are planning, organizing, leading, and controlling (PowerPoint). In order for the company to be successful the management must fulfill all four functions. In some case not all four functions are met to expectation, with the results that the company to be not as successful as it could be if they

Analysis - GE has likely been so successful over the years because of its ability to foresee major trends and capitalize upon them. In the 1960s, for instance, GE was one of the eight major computer companies. Even recently, since 1986, GE has continued to acquire several organizations; portions of NBC, wind manufacturing, universe pictures, aerospace industries, international firms, software and hardware manufacturing, even oil companies abroad. The company culture describes itself as not one company, but many each unit a vast and complex enterprise in and of itself, with a corporate

Successful management requires an understanding of the fundamental concepts of effective management techniques and principles. In order to gain such insight, and manage effectively and efficiently, managers must develop an awareness of past management principles, models and theories. From the turn of the 20th Century, the

In today’s ever changing economy, society’s idea of management is becoming increasingly more difficult to sustain with the continuous demands of the position. A successful manager must have a certain level of expertise and problem solving techniques to carry out the daily tasks required. Over the years, there have been various ideas on what management is, such as planning, organizing, leading and controlling.

In order for an organization to have effective management, it must have a well-designed management process (Koontz & Weihrich, 1990).