Succession Management: Trends and Current Practice

1177 Words5 Pages
BACHELOR OF COMMERCE

ORGANISATION DEVELOPMENT & HUMAN RESOURCE MANAGEMENT
RESEARCH TOPIC Succession Management: Trends and current practice

Name: Looi Jun Kiat Student Number: 31654205 Lecturer: Mr Frankie Yee

Declaration: Except where I have indicated, the work I am submitting in this assignment is my own work and has not been submitted for assessment in another course.

Looi Jun Kiat

Introduction
Succession management ensures a company’s survivability when key appointment holders leave the company. (Schroeder-Sauinier 2010) With Succession management, it allows the company the company to continue with its daily activity even with the loss of a senior management staff or even if it’s the CEO of the company. In crude
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Weakness of article The author seems to have deviated from the article’s intended purpose of talking about the trends and current practices to talking about succession management and how one can be successful in implementing the strategy. The article keeps talking about what a company should do but it did not mention what a company should not have done. It also lacks of case studies of companies that are successful to provide some real examples.

Conclusion of Article
This article shows how most of the companies surveyed are still not satisfied with their succession management strategy plans. There are even a small number of companies that do not have a plan in place. To be successful in implementing a succession management plan, a company should have a pool of members identified for accelerated development. The members of the pool should be clear on their responsibilities and accountabilities. It also indicates that there are phases in which members will join or drop out of the pool due to needs of the company and one’s motivations. Lastly the article seems to also suggest that it is better for promotion within the company as compared to having new hires. The following section will attempt to add onto what the article is attempting to convey.

Succession Management: Now
Since 2005, there are few changes in how companies managed succession management. In the recent event, the death of the CEO of Apple, Tim Cook took over
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