Succession planning greatly enhances the stability of business operations.” In the light of this statement, discuss the need for a succession management process.
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- Describe the importance of succession planning using your own understanding.Succession planning usually focuses on the development of management as it is believed that they are the key talent required for organizational success.however, there is another school of thought which argues that an organization most certainly employees are not those who make the highest salary, but those who have the most impact on the customer, for example the teller or customer service representatives at the information desk at Scotia bank Describe why these persons should be considered key talent, and recommend succession management strategies to develop the teller and customer service representatives at the information desk at Scotia bankExplore the concept of succession planning in organizations and its significance in ensuring a smooth transition of leadership and continuity in operations.
- Succession planning is the process of recognising the critical positions within your company and evolving action plans for individuals to assume those positions. The organisations are now identifying the importance of diversifying their work environments in order to maintain competitiveness and success. Discuss the statement above with relevant examples.In the world of professional industries, when conducting operational activities, top management have to be careful and well-conceived consideration is required so that it can be delivered in accordance with applicable rules and codes of ethics, as well as the manner in which the activities carried out are in line with the vision and goals of the company. To achieve the company's objectives faster and continually improve company performance, top management must be able to develop a routcome-based management strategy by obtaining detailed information and insights to support the decision-making process. For the purpose of drafting a conceptual framework in the form of organizational strategy, the leader hopes to help minimize risks that are detrimental to the company's activities, which in this case certainly requires the assistance of various parties, especially internal auditors that will help stakeholders by ensuring how the internal monitoring and control processes have been working…What strategies can organizations use to engage and involve key stakeholders, such as senior leaders, board members, and employees, in the succession planning process?
- Discuss what steps should organizations take to ensure that succession planning aligns with their long-term strategic goals and business objectives?Why should organizations consider succession planning and what are some risks and benefits of doing so?We Merged . . . Now What? Earlier this month, your company, a running equipment designer and manufacturer called Runners Paradise, merged with a smaller clothing design company called ActiveLeak. Your company initiated the buyout because of the excellent design team at ActiveLeak and their brand recognition, specifically for their MP3-integrated running shorts. Runners Paradise has thirty-five employees and ActiveLeak has ten employees. At ActiveLeak, the owner, who often was too busy doing other tasks, handled the HRM roles. As a result, ActiveLeak has no strategic plan, and you are wondering if you should develop a strategic plan, given this change. Here are the things you have accomplished so far: Reviewed compensation and adjusted salaries for the sake of fairness. Communicated this to all affected employees. Developed job requirements for current and new jobs. Had each old and new employee fill out a skills inventory Excel document, which has been merged into a…
- We Merged . . . Now What? Earlier this month, your company, a running equipment designer and manufacturer called Runners Paradise, merged with a smaller clothing design company called ActiveLeak. Your company initiated the buyout because of the excellent design team at ActiveLeak and their brand recognition, specifically for their MP3-integrated running shorts. Runners Paradise has thirty-five employees and ActiveLeak has ten employees. At ActiveLeak, the owner, who often was too busy doing other tasks, handled the HRM roles. As a result, ActiveLeak has no strategic plan, and you are wondering if you should develop a strategic plan, given this change. Here are the things you have accomplished so far: Reviewed compensation and adjusted salaries for the sake of fairness. Communicated this to all affected employees. Developed job requirements for current and new jobs. Had each old and new employee fill out a skills inventory Excel document, which has been merged into a…In what ways can succession pipelines adapt to changes in organizational needs and goals?As part of the Succession Plan Committee, you have been tasked with identifying future leaders for this position that will be open over the next 12-24 months Position: Sales Director, Middle East Location: Riyadh, Saudi Arabia Reports to: Executive Director, Asia Division ISN's Asia Division will be opening its first Middle East location in Saudi Arabia in the next 12 months. An Operations Director will be needed to head up this new division. A team of local salespeople will need to be recruited, hired, and trained by this leader. It is expected that this sales team may be largely men. Two sources that are recommended for more information about doing business in Saudi Arabia are: 1. https://www.commisceo-global.com/resources/ 2. https://www.commisceo-global.com/resources/management-guides/saudi-arabia-management-guide Also incorporate this leadership competencies in your answer. I. Global culture intelligence Il.Uses customer at the center of the decision-making and creating…