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Growing Your Company’s Leaders – How Great Organizations Use Succession Management To Sustain Competitive Advantage

by on January 10, 2010

http://www.amazon.com/Growing-Your-Companys-Leaders-Organizations/dp/0814407676

This is the book I’ve read for this week, the author – Robert Fulmer and Jay Conger are well known professionals and scholars in business leadership field. The book starts with addressing “why the renewed interest in succession management?” the authors use 6 reasons to explain why – mainly due to the fact that today it is very common that executives change from one company to another. In the past this topic was only cared by HR departments, but now it somehow becomes a crucial point that would directly affect a company’s (either big or small) success. Then the authors introduce seven factors (in different chapters) of succession management – (some of following items are not actually names… I used my own word to explain them though)

  1. Business strategy – every organization must have proper marketing strategies and HR (talent) strategies.
  2. Supporter and participant– unless succession management is backed by executives, this system doesn’t make sense. Similarly, department heads have to participate and pay responsibilities, thus can facilitate succession management.
  3. Identifying talent – a good succession management system can identify talent according to individual’s potential, performance and so.
  4. Linking succession (experience) to development (duty) – Effective succession management system links duty and experience in order to prepare for successor’s taking over.
  5. Measuring system – Measurer evaluates who has higher potential, who can be promoted.
  6. Tracing system – “Tracing” means monitoring progress and results. A good measuring system has both qualitative and quantitative standards.
  7. Evaluation standards – To evaluate a succession management is effective or not, individual evaluation standard is necessary.

Finally, the authors also elaborate on “the future of succession management”.

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One Comment
  1. Chun-Ting Chen permalink

    This book is highly related to the secret meeting the professor told us. I totally agree with these seven factors. In the other side, the most important factor the employees care about must be how their company treat them. For example, if someone treat you with respect, you will treat him the same.

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