Succession Planning as a Key to Effective Managerial Transition Process in Corporate Organizations
Succession planning is a vital element in the current scenario of tight managerial transition process in competitive business environments. Identifying and developing potential successors for key positions in an organizations through systematic evaluation process and training of competent employee for transition processes is fundamental for the success of every organization. Often time, the least qualified person or unprepared person to fill the vacant position takes over the leadership thereby leading the organization into corporate oblivion. This paper reviewed the roles of succession planning in the process of replacing key positions in an organization. From the review, many organizations experience breakdown as a result of poor succession planning whereas corporate succession planning is essential for any organization that is on the trail of achieving excellent managerial transition. This therefore recommends the establishment of effective succession planning in order to enhance organizational success. Nigerian companies must also ensure the introduction of succession planning as a matter of deliberate policy and build it into their strategic plan which must be reviewed regularly.
Oyewole Oluwaseun Oduwusi,
Succession Planning as a Key to Effective Managerial Transition Process in Corporate Organizations, American Journal of Management Science and Engineering.
Vol. 3, No. 1,
2018, pp. 1-6.
Susan J, & Kowalewski, D. (2011). Succession Planning: Evidence from “Best Companies in New York. International Journal of Management and Marketing Research (4)2.
Rollinson, R. (2017). The Most Important Factors of Strategic. Planning Center for Excellence in Public Leadership. (919): 460-8180.
Human Resource (2009). The Importance of Succession Planning: Developing a Winning Human Resource Mission Statement.
Board of Directors, North American Public & Private Sectors (2010). Preparing Employees Performance Appraisal for Effective Service Delivery. Pp 32-56.
Farley, A. (2005), HR‟S Role in Talent Management and Driving Business Results, Employment Relations Today.
Robb, (2006). “Succeeding with Succession: tools for succession management get more sophisticated”. HR Magazine January.
Butler, Kevin & Roche-Tarry, Dona E. (2002). Succession planning: Putting an organization's knowledge to work, Nature Biotechnology, (10):202-2011.
Orellano, T. & Miller, J. (1997). Succession planning: Lessons from Kermit the frog. SHRM HR Resources Information Center.
Morfeld, C. (2005, February). Workforce planning: the strategy behind “strategic staffing”. SHRM
Johnson, J. A. (2016). Succession planning and Transition Management: A Lived Experience. Journal for Nurses in Professional Development, 32(6): 316-318.
Pellet, J. (2009). What’s wrong with CEOs Succession? Chief Executive Officer. 240.
Board of Directors, North American Public and Private Sectors (2010). Three Models of Succession Planning.
Wilson, T. (2015). Eight (8) Steps for Effective Succession Planning. Inspiration from Leading Industry and Human Resource (HR) Experts.
Onuoha, B. C. (2013), Poor Succession Planning by Entrepreneurs: The Bane of Generational Enterprises in South-East, Nigeria, AFRREV IJAH: International Journal of Arts and Humanities, 2(2), 270-281.
Ogundele, O. J. K., Idris, A. A., & Ahmed-Ogundipe, K. A., (2012), Entrepreneurial Succession.
Musa, B. M., & Semasinghe, D. M. (2014), Leadership Succession Problem: an Examination of Small Family Businesses, European Journal of Business and Management, 6(34), 301-306.
Onuoha, B. C. (2013), Wealth Creation, Retirement and Succession Planning of Entrepreneurs in South-East, Nigeria, International Business and Management, 7(1), 99-105.
Hall, D. T. (1986), Dilemmas in Linking Succession Planning to Individual Executive Learning, Human Resource Management, 25 (2): 235-265.
Huang T (1999). Succession planning and management, Charity Village Library, Available onlineat:www.charityvillage.com/topics/human-resources/hr-planning/succession- planning.
Diamond P. (2006). Meaningful work, employee engagement, and other key employee outcomes: Implications for human resource development. Advances in Developing Human Resources, 13(4), 508-525.
Shen, W. & Cannela, A. (2003) Will succession planning increase shareholders wealth? Strategic Management Journal, 24(2), 191-198.
Schall B., (1997). Four Emerging Perspectives of Employee Engagement: An Integrative Literature Review. Human Resource Development Review, 10(3), pp. 304-328.
Aderonke, J. (2014). Culture Determinants and Family Business Succession in Jos Metropolis, Plateau State Nigeria, Journal of Emerging Trends in Economics and Management Sciences, 5(5), 379-390.
Balloun, J. & McGill, J. (2005). Succession Planning: A Critical Boardroom Imperative, NACD Directors Monthly, 29(9).
Bjuggren, P and Sund, L (2001) ‘Strategic Decision Making in Integration Successions of Small and Medium Size Family-owned Business’, Family Business Review, 14 (1):226-229.
Bowen, M., Morara, M. & Mureithi, S. (2009). Management of Business challenges among small & Micro enterprises in Nairobi- Kenya: KCA. Journal of Business Management, 2.
Charan, R. (2005). Ending the CEO Succession Crisis. Harvard Business Review, 83(2).
Chung-Herrera, B. G, Enez, C. A. & Lankau, M. J. (2003), Grooming Future Hospitality Leaders: A Competencies Model, Cornell Hotel and Restaurant Administration Quarterly, 44(3), 17-25.
Dauda, Abdulwaheed (2013). Business Continuity and Challenge of Succession in Nigeria: What Happens When the CEO Leaves? Journal of Business and Management, PP 59- 65.
Davis, N. (2008, April). Succession planning not limited to the C-suite. HRMagazine, 69-70.
Dessler, G. (2010). A Framework for Human Resources Management Upper Saddle River, NJ. Pearson Education Inc.
Eager, S. W. (2017). Decent and Distribution: Intestate Succession in the State of New York. Albany, NY. Bender & Co.
Eru, Kobe Godwin (2013). Keys to Effective Succession Planning, http://www.connectnigeria./keys-to-effective-succession- planning/
Herman, S. (2015). Succession Planning: Internal Candidates vs External Recruitment. Los Angeles, Califonia, United State.
Howe, S. M. (2005), the Leader of the Future; New Visions, Strategies, and Practices for the Next Era, Succession Planning, San Fransisco: Jossey-Bass.
Husain, J. (2009). Lessons Learnt from business mentoring practices. The Business Review. 14 (1). Cambridge, England.
Jaques, E. (1989). Requisite Organization: the guide to creative structure and leadership. Cason Hall. ISBN: 096210700x
Johnson, G. L. and Brown, J. (2015). Workforce Planning: Not a Common Practice. Journal of Management Science, 33(4): 379-388.
Mathias, R. L., and Jackson, J. H. (2006), Human Resource Management, Eleventh Edition, South-Western College Publication
Newton, C. (2001). The Advantages of Recruiting New Employees. Small Business in Managing Employees.
Lawson, E. (2010). Retaining Key Employees in Terms of Challenges. McKinsey Quarterly. Pp. 168-173.
Ohuabunwa, M. S. (2015). The challenge of succession planning in Nigeria.www.hopefornigerianponline.com
Ohmae, K., (2005). The Coming of Global Competition, New York, Free Press
Osibanjo, O. A., Abiodun, J. A. & Obamiro, J. K., Succession Planning and Organizational Survival: Empirical Study on Nigerian Private Tertiary Institutions, Serbian Journal of 45 Management, 6 (2) (2011) 231 – 246.
Problems in Nigeria’s Family Businesses: a Threat to Sustainability. European Scientific Journal, 8(7), 208-227.
Turcknett Leadership Group (2013). Executive Assessment and Selection Succession Planning. Competency Model, (770): 270-1723.