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Baloni Brothers Ltd: Succession Plan - Essay Example

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 This essay discusses the case of Baloni Brothers which is a very good example to understand the manner in which effective leadership can help bring about a successful business organization. Both the founder directors of the company did not have any technical qualifications…
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Baloni Brothers Ltd: Succession Plan
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"Baloni Brothers Ltd: Succession Plan"

Download file to see previous pages In this regard, there is an urgent need for finding a suitable replacement for the two key individuals. The issue also assumes importance considering the fact that the entire organization is highly dependent on these two directors. An effective succession plan at Baloni would involve four steps firstly; the succession planning would be named as succession development plan as it is necessary to develop individuals into broader leadership roles as it would be more practical in the current case. This can be traced from the historical nature of the origins and growth of Baloni Brothers who despite lacking technical skills had efficient leadership traits that helped in the rise of the company. Succession development planning would help in finding appropriate persons who can fit into the shoes of the Baloni Brothers so as to ensure a good job fit. Secondly, a succession development for finding a new successor would also involve measurement of the outcomes and not the process as a whole. In case of Baloni Brothers, the successor would essentially be an external person who would be new to the company. A team comprising of the Baloni Brothers and the directors would also be in place to select the new executive. The new person would be designated as the CEO or the Chief Executive Officer. The CEO would be handpicked from a set of chosen candidates. The candidates would essentially be associated in the same industry and business segment for a considerable period of time in a very senior position. Efforts would be made to take a relatively younger person for the job as it would help in bringing greater energy and enthusiasm into the organization that would motivate others n the company. A simple yet comprehensive selection criterion would be made so as to reduce complexities and look for leadership traits.   ...Download file to see next pagesRead More
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