Expert answer:MHRM6645 Walden University Wk 1 Building Organizat

  

Solved by verified expert:I have included all of the weekly assignments for the culmination PowerPoint. I am also attaching the PowerPoint template that must be used for this assignment. Synthesizing and sharing information in a cohesive, scholarly, and professional manner is a valuable task for virtually any topic or process in just about any profession. The process of succession planning in the human resources (HR) profession is no different. HR professionals are often responsible for making compelling cases for sensitive or highly charged issues such as organizational changes and recommendations. Knowing how to synthesize and disseminate a complex issue into an accessible format for others is a critical skill set. Moreover, the successful HR professional will be the one who can do so in a persuasive and positive manner that creates an appropriate sense of urgency and shared purpose. To complete your final Assignment, assemble your Course Project information into the Culminating PowerPoint Template found in this week’s Learning Resources. When presenting information, be sure your slides use PowerPoint best practices such as Using bullets to present informationRetaining the font style throughoutAssuring that the colors used in the slide do not clashOnly using graphics that contribute to the information presentedUsing the presenter “notes” section to provide more information on the key topics presented in the slide To assist you in deciding which information from your Course Project is most salient to present, questions and prompts are included in the notes section of the Culminating PowerPoint Template. These prompts are designed to assist you in focusing and organizing your information, and align with your weekly Assignments throughout this course. As you determine what information you will include on each slide, change these guiding questions into your own notes’ content to be specific to your presentation. Conclude the Course Project organization’s succession planning portion of your presentation with recommendations for your selected organization. Finally, be sure you answer the final thoughts “takeaway” question at the end of your Culminating PowerPoint Template presentation. State one important takeaway you learned from the process of succession planning.State one important takeaway you learned from the organization that you examined for your Course Project.Evaluate the components of the Course Project exercise.Explain whether you feel this Course Project would be applicable in the real world for you.
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The Problems in Succession Planning
Ki’Sha Jones
Walden University
Professor Gualco
MHRM 6645
May 12, 2019
The Problems in Succession Planning
The vignette selected for this paper is the first one; in which several managers of Acme
Engineering perish in a desert airplane crash (Rothwell, 2016). The vignette predisposes Acme
Engineering to a severe management crisis in the absence of the deceased managers. The
primacy of the scenario in highlighting the relevance of succession planning is centered on the
different functions played by management in an organization. In the absence of top critical
managers at Acme engineering, the company’s roles of planning, organizing, controlling, and
leading various functions are either left unattended to or insufficiently done due to the gap
created by the deceased managers (Zsolnai, Junghagen & Tencati, 2012). The management of a
company plays a critical role in coordinating the operations of the business (Schraeder, Self &
Jordan, 2014). As such, Acme Engineering will be deprived of a crucial operational element; a
feat which will have adverse effects on its overall sustainability. Overall, the loss of several top
managers is a massive blow for the company because the management roles will be adversely
affected.
On the other hand, the problem created by accident demonstrates inevitable flaws or
inexistence of any robust succession plan at Acme Engineering, in various ways. Immediately
after the occurrence of the crash, the company’s vice president of human resources is summoned
to receive the sad news. The first demonstration of the non-existence of any succession planning
in the organization is the emotional reaction of the vice president of the human resources
manager. According to the vignette, she turns pale, gasps, and blankly looks at her secretary
(Rothwell, 2016). The second illustration of the inexistence of any succession plan at Acme is
the question she poses at her secretary. Her first worry is who is in charge of the business;
implying that the company did not have any succession plan.
Prediction for the ways in which the company’s sustainability will be affected by the
problem is based on the fact that the functions of management will be poorly performed or
unperformed. As such, the planning function of the company will be hardly performed. The
situation will predispose the company to poor future performance due to the lack of a strategic
focus that is built on planning. The problem will also expose the organization to uncontrolled
operations and lost interpersonal trust among the employees (Schraeder, Self & Jordan, 2014).
The challenge is attributed to the fact that the management serves as the primary controlling tool
for the organization. Therefore, the overall effectiveness and sustainability will be highly
hampered by the demise of its top managers.
The existence of a succession plan in an organization would reduce the adverse effects of
such occurrences. As such, Acme Engineering could have substantially reduced the likelihood of
the specific consequences from occurring by putting in place substantial succession plans. From
the vignette, it is evident that the crash left the company in limbo. Imperatively, the
establishment of a succession plan at Acme Engineering would have ensured that the
organization had a backup plan to ensure that its management functions are performed despite
the death of its top managers. If the company had potential individuals to sit in for the top
managers, the problem could not emanate since the perpetuity of its management function would
be guaranteed. The succession plan would serve as a buffer for the company’s sustainability by
ensuring that the remaining employees of the organization would identify appropriate
mechanisms to replace the managers. Therefore, the existence of an effective succession plan
would successfully reduce the likelihood of the organization to face the consequences of the
crash by sustaining the continuity of the management function.
The effectiveness of succession planning is significantly boosted by the adoption of the
best practices and approaches in a bid to sustain the organization in case of any unexpected event
that deprives the business of critical figures. According to Rothwell (2016), the direction is one
of the best practices that can be used by an organization immediately to mitigate the
identification of an ideal candidate to take up the vacant positions in a bid to sustain the
effectiveness of the management function and the organization’s sustainability. Identification of
the most appropriate successors should be an objective process based on individual capabilities
of the company’s future leaders. For instance, drawing from the vignette identified, the
organization could move swiftly but carefully to identify the most appropriate individuals within
its workforce to take up the roles; even if in an acting capacity (Rothwell, 2016). Diagnosis is
another ideal practice that the organization could implement immediately to avert the adverse
consequences attributed to the problem. Diagnosis involves the objective assessment of a
candidate’s strengths and weaknesses in comparison to the prevailing organizational needs.
Imperatively, the practice enables the organization to settle on a candidate whose capabilities are
sufficient to meet the organizational needs at the time (Rothwell, 2016). The third best practice
for the organization would be prescription; which is centered on the concept of capacity building.
After identifying and diagnosing the ideal candidates for the vacant positions, it is important to
capitalize on the provision of the appropriate development mechanisms in a bid to build unique
competencies within the organization. The strategic approach contributes significantly to the
creation and furtherance of outstanding management capabilities in the selected individual; thus
making a suitable fit for the vacant managerial positions. The final best practice for the
organization would be the establishment of reliable monitoring mechanisms to ensure that the
selected candidate and the overall succession process serves as a reliable builder of leaders for a
reasonable duration. The practice would significantly contribute to the sustainability of the
succession plan and the organization in the long run.
Recurrence of the problem could be prevented by the adoption of certain practices in the
organization, including direction. The concept proposes the adoption of such practices as topdown or bottom-up approaches to the succession planning initiatives. In the top-down approach,
the succession planning in an organization is overseen by the top management, including the
board of directors and the CEO. In the bottom-up approach, the succession planning and
management are directed from the junior levels in an organization. The concept is centered on
the employees and their supervisors; both of who work collaboratively to identify the most
appropriate individuals for the positions. Planning could also serve as ideal practice for the
management of succession planning in a bid to prevent the recurrence of the consequences by
anticipating such, and laying down an appropriate purpose and statement for the succession and
planning programs (Rothwell, 2016).
In developing an appropriate succession planning culture, I would rely on the traditional
method. The preference is based on the fact that it is centered on the capacity development of the
employees within an organization. Despite the development of the talents held by the internal
actors in an organization, the approach also eases the succession planning process because the
individuals are already acquainted with the organization’s culture and operational strategies.
References
Rothwell, W. (2016). Effective succession planning. New York: AMACOM.
Schraeder, M., Self, D., & Jordan, M. (2014). The Functions of Management as Mechanisms for
Fostering Interpersonal Trust. Advances in Business Research, 5(1). Retrieved from
http://journals.sfu.ca/abr/index.php/abr/article/viewFile/71/91
Zsolnai, L., Junghagen, S., & Tencati, A. (2012). Redefining the roles and duties of
management. Journal Of Global Responsibility, 3(1), 121-133. doi:
10.1108/20412561211219328
Sample Presentation
Template for MHRM 6645 Week 8 Assignment
[student name]
© 2012 Laureate Education Inc.
Overview of Project
 Company name and services provided
 Background of change in leadership
 Succession plan in place or no plan?
 Did the organization utilize talent management to select the
candidate?
 Outline the roles played by HR, the CEO, and the board of
directors for the succession plan.
 Link to company information online
© 2012 Laureate Education Inc.
Succession Plan Barriers
 List of top three barriers
© 2012 Laureate Education Inc.
Succession Plan
 Mission statement:
 Goals of SP
© 2012 Laureate Education Inc.
Succession Plan Rationale
 Why are you implementing this new process for your
successors?
 How will this enhance competition?
 What “positive statement” did you use to increase buy-in?
© 2012 Laureate Education Inc.
360-Degree Assessment
 Outline two positives and two negatives of 360-degree
assessments.
 Who should receive a 360-degree assessment?
© 2012 Laureate Education Inc.
9-Box Grids
 Include a copy of your completed 9-box grid here.
© 2012 Laureate Education Inc.
HRIS
 Which HRIS packages did you compare?
 What were your top five criteria?
 Which did you prefer?
© 2012 Laureate Education Inc.
Confidentiality Agreements
 What benefits and consequences are associated with
confidentiality agreements?
 List two to three essential components you would include in
your company’s confidentiality agreement for senior
executives.
© 2012 Laureate Education Inc.
Recommendations
 Analyze potential gaps in the succession plan for your
selected organization.
 Identify the future trends that would most impact, positively
or negatively, your organization.
 Propose recommendations for how to adapt your succession
plan to meet the demands of future trends.
© 2012 Laureate Education Inc.
Takeaway
 What was your #1 takeaway you learned from the process of
succession planning?
 What was your #1 takeaway from your Course Project this
term?
 Evaluate the components of the Course Project.
 Explain whether you feel this Course Project would be
applicable in the real world for you.
© 2012 Laureate Education Inc.
Reference Slide(s)
 Include your project references here.
© 2012 Laureate Education Inc.
American Express, Corp.
Ki’Sha Jones
Walden University
Professor Gualco
MHRM 6645
May 19, 2019
American Express, Corp.
Corporate succession plans are a necessity for any business entity operating in the formal
sector. All registered and incorporated companies are required to have formal procedures for
replacing an employee. This procedure is done to ensure that there is justice and fairness
throughout the process (Day, 2013). Justice and fairness should prevail for the retrenchment of
the departing employee; justice should also be served during the selection of the incoming
candidate. Succession planning entails developing and identifying future leaders for all the
positions in a firm. Succession planning is essential for a company because it ensures that the
company is able to continue its operations even if a key member of the company dies, resigns, is
sick, is involved in an accident and in many other scenarios (Day, 2013). It is noteworthy that
succession planning mainly entails developing existing employees to take over specific positions
when the time comes.
The chosen company for evaluation is American Express, Corp. American Express, Corp.
is a multinational corporation dealing in financial services. The company is well known for
providing financial services including credit cards, charge cards, traveler’s cheque and other
financial items/services. The company manages many cards in the United States and across the
globe. As at the end of year 2017, the company controlled 112.8 million cards in the United
States. The company has been in the industry since its inception in 1850. The mission of the
corporation is to help others achieve their own mission in life. The company does exactly this by
enabling many transactions across individuals, corporations, and countries. This enables
advancing people’s visions and mission in life (American Express n.d.).
The most recent change in the organization is the change of the CEO of the company.
The retire of the former CEO of the company Kenneth Chenault paved way for the selection of
Stephen Squeri to become the CEO of the company. Stephen Squeri was formerly the vice
chairman of the corporation before his appointment to become the new CEO. The outgoing CEO
had headed the company from 2001 to February 1 2018.
It can be stated that Kenneth Chenault used a democratic leadership style. This is seen
from the fact that he believed in reaching out to employees and striving to become a leader and
not an autocratic CEO. It can also be argued that he had laissez-fair leadership because he
believed in challenging the status quo so that he could challenge employees to deliver their best.
On the other hand, it can be argued that Stephen Squeri had notable leadership qualities that led
to the board of directors choosing him as the new CEO (Business Roundtable, n.d.). In his
previous role, Stephen had successfully managed customer servicing, technology implementation
and advancement, business service functions, and credit administration. These skills and
experience in this area gave him enough experience to have the more challenging job of CEO.
Stephen joined the company back in 1985 as a manager (Business Roundtable, n.d.). He has also
served as the president of the company in various capacities including president of the
Establishment services group in Canada and USA from 2000 to 2002. He also served as the
president of the corporate card group from 2002 to 2005. In 2009, Stephen became the Group’s
president where he helped formulate the Global Services Group (Business Roundtable, n.d.). He
was then later named the vice chairman of the corporation. Stephen is the ideal candidate for the
CEO position considering the successes and advancement he had already brought the
organization when working in various positions including manager, president, president, and
finally vice chairman. The long term service to the corporation shows that Stephen has passion to
work in the company. His long service is also a clear indicator of the experience he has in
driving the company towards its goals and objectives (Business Roundtable, n.d.). It can be
argued that Stephen was the ideal candidate for the job considering his experience in the
company and leadership capability exhibited by him heading various departments and sectors in
the organization.
This change was due to a foreseen circumstance. The change was mainly due to the
retirement of the outgoing CEO of the company. Based on this, it can be argued that the
company had proper succession plans in place to facilitate the handing over of authority from the
former to the new CEO. It is noteworthy that the retirement of the CEO in this case was due to
age limitation, and was thus a planned succession.
Considering that the organization is an incorporated entity, it followed formalized
succession system. This system entails identifying and grooming a potential leader after one of
the corporation leaders departs. In this case, the corporation had plans to groom and prepare
Stephen to become the new CEO of the corporation. During the changeover period, the company
was at stage 2(Recruiting and Tools) of the lie cycle. This is mainly because it entails selection
of the targeted candidate and ensuring that they are conversant with the tools and software
requirements.
Talent management played a big role in the selection of the ideal candidate for the
position. Talent management entails identifying the strengths and weaknesses of employees, as
well as identifying their areas of specialization (Day, 2013). In this case, the human resources
department helped in identifying the experiences, talent, specialization, and personality of the
potential candidates, factors that determined which candidate is selected for the post.
There is need to have strategic alignment between the board of directors, the CEO, and
the human resources professionals in executing a successful succession. In this particular case,
the CEO could have helped to select the possible individuals he had in mind, after which the
human resources and board of directors had the task of selecting who among the select
individual’s best fits the job. The strategic alignment between the three entities enables for faster
selection of candidates and selection of the most appropriate candidate. This process is more
common in cases where an internal employee is selected to fill the contested position.
The most influential member of the “triumvirate” in this particular instance was the board
of directors. This is mainly because they had worked in close proximity with Stephen Squeri
when he was acting as the vice chairman of the corporation. Selecting him the new CEO was
highly shaped by the capability and experience Stephen Squeri had demonstrated to them when
performing the role of the vice chairman. The role of the human resources cannot be ignored, but
it is noteworthy that the nature of the position highly required the counsel and expertise of the
board of directors. As such, it can be argued that Stephen Squeri’s relations with the board of
directors during his time as the vice chair helped to propagate him to the CEO position.
The most notable role or steps the board of directors took to ensure that they select the
best candidate was to engage in extensive meetings than enabled easy collaboration to decide
who is the most suited candidate for the position (Day, 2013). The meetings held by the board of
directors helped in outlining objectives for the selection of the candidate and thus helped in
selecting the best candidate for the job. In such companies, major decisions like change of CEO
are managed by the board of directors and is guided by the meetings they conduct, together with
democratic voting in case they are stuck on two suited individuals for the job.
The strategic collaboration between the three entities – board of governors, human
resources, and CEO played a big role in enabling efficient and swift selection of the next CEO of
the company. The CEO of the company must have pointed out Stephen as a potential successor,
which enabled for closer evaluation of Stephen to ascertain if he has the skills and experience
needed for the job. The human resource department and the board of directors, who were the
major entities in the selection of the new CEO had the ultimate influence in deciding who will be
the next CEO. It can be argued that all the three members were supported and collaborated in the
selection of the new CEO.
Conclusion
In conclusion, it is evident that succession planning is an important process for any
business entity. In the case of American express Corp., it can be argued that the company had a
planned and well executed succession planning and eventual succession. This is because the
company had groomed Stephen Squeri since his entry into the company back in 1985. His entry
job was a manager but he managed to move from department to department, and from one
position to another throughout his career at the firm (Business Roundtable, n.d.). This helped him
to master the art of leadership and management and it is expected that he will be a successful
CEO at the end of his tenure. It is recommended that organizations turn to succession planning
and implementation …
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