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Essay / Research Paper Abstract
This 13-page paper focuses on succession planning, what it is, the reasons for it, how prevelant it is in corporations, and what a strong succession plan should be made of. Bibliography lists 20 sources.
Page Count:
13 pages (~225 words per page)
File: D0_MTsuccor.rtf
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Unformatted sample text from the term paper:
who will take over. In response, investor jitters about transition leadership cause the stock to plummet until its known who will be at the helm. Then there is the breaking-in
period to determine if the new corporate leader will be successful or not. According to experts, such a scenario is every human resources managers nightmare.
Yet what isnt focused on quite as much are the corporations that dont have to go through such problems. These corporations seem to have strong leaders ready
to step into place when the current CEO or other manager steps down. Because of this continuity, these corporations tend to be profitable and stable (plus they have an easier
time of retaining and attracting new talent). Thats because these corporations have strong succession plans in place. In this paper, well examine
many facets of succession planning, including what it is, the benefits and how good succession plans are created. Well also examine companies with successful succession plans and how well they
are doing. What it Is and Its Benefits In its most basic form, succession planning is assuring that there is continuity of
prepared and groomed leaders to take over a companys key executive positions (Leibman et al, 1996). This focuses on selecting talented employees to replace senior managers who end up leaving
a company because of retirement, reassignment or other reasons (Huang, 2001; see also Caretta, 1992). Effective succession planning is focused on minimizing disruption and dislocation that can come from personnel
changes, with a view toward implementing business strategy and achieving organizational goals in a smooth and continuous manner (Huang, 2001; see also Dessler, 2000).
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