While most of the companies follow the evolution theory in talent development only more than one third of the multiowner firms follow the talent development and have a written succession plan. (A 2009 tune up your firm’s succession planning. Dominic Cingoranelli. Journal of accounting march 2009).
Although the talent development school is the best choice for many reasons, nevertheless it’s rarely used in a systematic way in many organisations.
This paper will explore both schools of thought and shall provide many examples. Later, I shall state my opinion and justify it.
Table of content
Table of Content
2. Why succession planning
3. The evolutionary process of talent development
3.1 Mohamed Ibrahim optics
3.2 Masr for insurance
4. Succession planning and management
5. Talent development as a result of sustained effort
5.1 Prizma for securities
5.2 Adel Elkholy for shipping
6. Conclusions 7. Recommendations 11
1. Introduction All around the globe there are two main opinions about talent management. One that states that talent can be developed by itself through the everyday work. On the other hand another school states that a talent must be discovered, nurtured, grow and retained.
In the fast growing business world especially in last 2 decades many issues appeared that emphasise on taking a stand whether to follow the evolutionary theory or to follow the succession planning and management.
References: 1. (A 2009 tune up your firm’s succession planning. Dominic Cingoranelli. Journal of accounting march 2009). 2. (Palma, M 2009, ‘Succession Planning’, PA Times (American Society for Public Administration, March, vol.32, iss. 3, pp.10-11) 3. Rothwell, W. J., 2010. Effective Succession Planning. Fourth edition ed. New York: AMACOM American Management Association. 4. ( www.businessdictionary.com) 5. (Baldoni, J 2008, ‘Making a Success of Succession Planning’, CIO Insight) 6. (The art of succession, By: Boyle, Matt, BusinessWeek, 5/11/2009, Issue 4130) 7. (Chief learning officer magazine, The CLO Succession Plan, March 2008 issue) 8. (Moskal, Planning for Succession, Baseline, October2008, iss. 89, pp. 12-14.) 9. Harper W.Moulton and Arthur A. Fickel, Executive Development: Preparing For the 21st Century (New York: Oxford University Press, 1993), p. 29.