CEO Resigns: Tough Decisions about Leadership and Management Name Texas A&M - Commerce In partial fulfillment of the requirements for MGT 590 Professor Lloyd M. Basham April 5, 2012 Table of Contents 3 Abstract 3 Review of Related Literature 4 Discussion 9 The resignation of the CEO 10 Selection of the NEXT President – the future CEO 10 Rationalization and Justification of the choice 11 Conclusion 14 References 15 Appendices 17 Abstract In the corporate world of business, tough decisions always emerged about leadership and management…
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The gravity of the responsibility of being CEO will be related to the selection of a President – as one of the major events that can make or break the success of a corporation. The selection of the President is very crucial because you are preparing the right person to be the most probable next CEO of the corporation. The main contents of this paper are structured to answer questions based on a situational dilemma on Business Corporation’s selection of President. The decision made on the selection will be extended towards the analysis of its effects on the individual level and the company as a whole. Keywords: Corporate culture, Leadership, Management, Executive transitions Review of Related Literature This section presents some of the related literatures involving leadership and management for a corporate business environment with focus on what’s at stake to be a Chief Executive Officer. The world of corporate business is complex and may require essential leadership and management skills to climb and maintain your position at the top. Probably the biggest challenge most leaders face today is making a balance on the need of increasing shareholder value while creating an environment that caters passion and commitment of the employees (Hulsmans, n.d.). The evolving corporate world has produced several definitions of leadership. It is sometimes viewed as a relationship that involves three aspects towards a desired goal: mobilization, influence and guidance (Wollinski, 2010). It is true that leadership can occur only in the context of a group of individuals working together to achieve something. The product of leadership must not only end on motivated followers, but individuals who are empowered to participate in decision making and hone their leadership skills (McKay, et. al. 2000). Based on personal perspective, leadership can also be a function of knowing oneself, having a well communicated vision, building trust among colleagues, and taking effective action to realize one’s leadership potential as stated by Bennis (1989 as cited by Willonski, 2010). . Management requires the behavior and actions of employees be channeled and directed towards the achievement of the organization’s objectives. Leadership must encompass management skills to effectively communicate to your employees. The next step should involve capitalizing employee’s strength and capacity to become leverage for the organization and help produce quality value added customer wants (O’ Brien, 2012). For companies undergoing transition to knowledge economies, fair process is a must. It is on fair process that trust is created which directly influences attitudes and behaviors of members of an organization leading them to become more innovative and vocal in their ideas (Kim and Mauborgne 1997). It is important to note that today’s employees demand personal growth and learning that will engage and stimulate them. They want to be challenged, and they need to be trusted and held accountable (Hulsmans n.d.). The leadership with outstanding management skills can be mostly seen in the topmost of the corporate ladder. Individuals who are actively participating in leading certain firms are normally called the Chief Operating Officer or
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