- Published: September 20, 2022
- Updated: September 20, 2022
- University / College: University of Texas Dallas
- Language: English
- Downloads: 13
Introduction
In every stable and successful organization, the task to replace the outgoing Chief Executive Officer is always daunting. The person offered the responsibility is always faces a great challenge of ensuring the company continues on a success platform. Failure to recruit a competent and the most suitable person for the job is always a possibility if some crucial factors are overlooked. In replacing the president for the baseball franchise team, one must engage in succession planning and management. Succession Planning and Management is the purposeful and systematic attempt by the company to ensure leadership continuity while at the same time retaining and developing intellectual and knowledge capital for sustainability in the firm. The sustainability includes encouraging the employees’ growth and development. It is mandatory to make an elaborate and thorough crosscheck of all the criteria to be used in recruiting the best-suited candidate for the highest job in the company (Oakes & Galagan, 2011).
Discussion
In coming up with a replacement for the franchise president’s job, there are several recommendations to be considered. The smooth transition from one leader to the other ensures that the firm maintains its customers, partners, business investors and the employees in the company. This also enables the successor to be able to carry out his/her roles successfully without many challenges. The succession plan in the company provides a basis on how to start and replace the vacant post. Since the succession plan is reviewed constantly by the senior human resource executives, it provides a good basis on how to go about in replacing the president. If the succession plan is not available or inadequate, the vice president should examine the company direction and the strategy likely to be adopted in the future for duration of five to fifteen years in the future.
Here the factors that should be considered are continued globalization of customers, investors, competitors and supply chains (Rothwell, 2010). By taking these and many other factors into consideration the human resource vice president is able to identify the most probable candidates to carry out the next phase of the company shift. This is because he is able to single out all the qualities, capabilities and experience that are required of an ideal candidate. On top of this, one is supposed to look for the most successful Chief Executive Officer both inside and outside the industry identifying the traits attributed to the specific individuals. After distilling all the consideration and breaking them into capabilities, the human resource manager is now ready to choose a candidate.
So as to increase the business value and also improve the business profits the employees who constitute the human capital must be well coordinated for maximum output. By strategizing on how to work efficiently and get maximum benefits from the employees, the human resource department coordinates the employees. This way the performance of human capital is always addressed helping the firm gain competitive advantage over the years. By ensuring that all the factors that favor human capital performance are observed, the human resource can now concentrate on other aspects of the business. Proper coordination of the human capital helps it to interact with other forms of intellectual capital which include organizational capital ad social capital. Thus, it goes without saying that human capital influence on other departments helps form an outcome that is firm and pleasing to the employees.
In designing an executive post, a need must first exist. Executives in any organizations are key in decision-making and they must be important to the company. The success of a company is shown in the definition of various jobs. Clear and concise job definitions eliminate contradictions and conflict in the jobs awarded. In case there is need to change the present culture in the company, a transformational leader is recruited. To maintain the present culture, a leader who shares the same beliefs is always the best option. The resources to be used in marinating such an executive post are immense and cannot be ignored at any time. Thus, clear roles have to be stipulated as to what the roles of the executives will be. This will help in avoiding possible conflicts between other heads in the organization. Although specified in the job description, the executive should also work with other employees in ensuring that the vision of the company is achieved (Rothwell, 2005).
Just like any other project, the execution of any project must follow a strict guideline. Depending on the type of project, the client must be well informed of all the steps and stages that are needed for the execution of the project. The client must be given a detailed step by step process that guarantees the success of the project (Yaeger & Sorensen, 2009). He/she must be taken through the initiation, planning, execution and the closing stages of the project. Factors highlighted in the execution include the scope, cost, risk, quality and the time required to ensure its successful execution.
All the requirements that are needed for the proper execution of each and every stage are availed. With better knowledge of the project, one is able to always deliver some quality work. This is because they are aware of the all the dimensions available to approach the situation. The areas of knowledge to put encompass in project management include integration management, which ensures that all aspects are greatly coordinated, scope management that is the overall understanding if the work to be done in execution of the project. It consists of initiation, scope change and control, scope definition and the verification of each and every activity. In execution of each stage of the project, time and resources are always in use (Rothwell, 2010).
Conclusion
Thus, these two essential commodities must be put into right use according to the clients wish. By managing all these components of the project, the client will most definitely be satisfied in the team for execution of an excellent job.
References
Oakes, K., & Galagan, P. (2011). The executive guide to integrated talent management. Alexandria, Va: ASTD Press.
Rothwell, W. J. (2010). Effective Succession Planning: Ensuring Leadership Continuity and Building Talent from Within. New York: AMACOM.
Rothwell, W. J., Wang, A. W., & Payne, T. D. (2005). Career planning and succession management: Developing your organization’s talent ; for today and tomorrow. Westport, Conn: Praeger Publishers.
Yaeger, T. F., & Sorensen, P. F. (2009). Strategic organization development: Managing change for success. Charlotte, N. C: Information Age Pub.