They wait for someone to step down or even worse, be removed. Then and only then do they entertain thoughts of who or what should happen next? One of the reasons little forethought is given to succession is evident in the fact that it rarely shows up in corporate business plans.
Companies are quite diligent in forecasting out 3, 5 and even 10-years but most of what they plan has more to do with finance, P&L, product evolution and little or no emphasis on who or how future leaders will captain the corporate ship.
It's no secret senior executives, especially those new to the position, see themselves as bulletproof. In their minds, talk of succession is analogous to talk about potential failure - they will be there forever - so they have little appetite for negativities like that preferring rather to concentrate on positive things like how they will make the company successful - perhaps in perpetuity?
Professional consultants like Pat Micallef, VP of international consulting firm The Meta Group, takes a strong position when he says, "The success of any corporate succession, is predicated on the strength of the company business plan, and, it goes without saying," he says, "leadership change is integral to future corporate strategies and should be built-in. The success of which, however, [succession planning] hinges expressly on whether or not the architects of the plan have a clear understanding of three important criteria:
a) What will it take to keep the company running and profitable?
b) What will it take to Grow the company? and,
c) What will it take to Change the company?"
It is here we begin so see more clearly that succession planning is an integral part of a much larger stratagem, more complex, perhaps, than seen at first blush. Senior executives rise to the top based mostly on their unique and proven skills tacitly believed by corporate board members or company owners to be the stuff necessary to champion the needs of the corporation.
In a perfect world, the corporate cream rises to the top in a comfortable and timely fashion - but we don't live in a perfect word - in fact, one could argue we live in a more imperfect world than we'd like to believe. With that in mind, companies and industries the world over, are addressing the reality that a decade from now, their entire business landscape will be completely different!
Randy Moore, VP of York Region based Mister Transmission, knows the future looks bright for the products and services he sells. Mr Moore would do well with a long term succession plan.
I can never lose with the Powerful strategies used for my online business.
Showing posts with label planning. Show all posts
Showing posts with label planning. Show all posts
Tuesday, April 15, 2008
Friday, February 29, 2008
extreme self-care is so important
3 Tips for a Great Summer -
Developing Life & Business
While Having a Blast
to drop everything and scream "let's go play!" After all, extreme self-care is so important. I also wonder if we tend to use the summer as an excuse to procrastinate. So here are a few tips to integrate personal and business growth with a whole lot of fun.1- What do you want to achieve by Labor Day- While staying in line with your annual goals determine how you want to develop personally and professionally. What skill needs to be developed? Is there a new product you can add? How do you want to be different? What do you want your business to look like? If you are stuck create a success formula. Make a list of what you have ... a great product, expertise, etc. Then look at what you want ...
X number of clients, to create a profit of Y amount, to reach a certain level, etc.
What's missing? A skill? A marketing plan? Self-development? Another product? Knowledge in a certain area? Prospect follow-up? Choose where to begin to fill the gap. In addition, make a list of what you would like to do this summer to enjoy your family and enjoy your life.
Include your favorite things, and the things you keep thinking about. Keep in mind that the best most memorable moments are not expensive.
2- Create a simple consistent plan of action-
Let me stress simple and consistent. Choose your summer schedule. You may want to wake up extra early ... summer mornings are refreshing.
Get your work done and have lots of time to play. Possibly fit in a few more hours in the late afternoon or evening. Bring a good book to the pool that will help you develop in the area of your choice. Or take a class or tele-class? Create some structure so you have time for work and play.
You can plan an outing for a certain day each week. Choose certain times for housework. This also teaches your kids to make time for work and play as both are important. If you can integrate the two ... all the better.
Have the kids help with housework ... blast the music, dance around, and get the job done ... or create a race.
Know the actions you will take so there is no time wasted wondering what to do when. Make sure you schedule in quiet time for you alone and time once a week to update your plan.
3- Take action daily- Now that you know your plan you can move towards developing yourself and your business while enjoying your life. Keep your plan in front of you daily. If you fall off course one day ... which you will -- don't worry about it. Just get back on track. A few days a week developing your growth are better than none.
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