Succession Management: Trends and Current Practice

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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 terms, it can also be called to a certain extend replacement planning. To implement a succession management strategy successfully, it is important to look at the trends and current practices nowadays companies. Lamoureux et al (2009) mentioned that some companies looks at succession management as “a strategic process that minimizes leadership gaps for critical positions and provides opportunities for top talent to develop the skills necessary for future roles” while other companies, “succession management is a constant struggle, viewed as an administrative exercise rather than as a competitive advantage”. This assessment task is based on the paper by Mark Busine and Bruse Watt and has been undertaken to investigate the trends and current practices of current companies in succession management.

Overview of the paper
Article Busine, Mark, and Bruce Watt. “Succession Management: Trends and current practice.” Asia Pacific Journal of Human Resources, 2005: 225 - 237. Article Summary The article talks about the problems that some companies are facing and what forces are driving businesses to change. It presents the trends and current practices that are adopted by companies. The article also attempts to define what it means to...
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