The importance of succession planning in family-owned Small and Medium Enterprises in Portugal

This work project addresses the importance of succession planning in family-owned Small and Medium Enterprises (SMEs). This is directly related with Human Resources Management (HRM) given that there is an HRM long term vision in order for the succession to be planned on time and benefit the companies. This study focused on SMEs since these are the entities that have a minor focus on HRM practices. A total of 22 in-depth interviews were conducted and analyzed. Selected SMEs owners/managers and successors/antecessors were interviewed with the purpose of acquiring more insight on the level of succession planning, using a qualitative methodology from which the process of succession was derived. This study unveils that the first step in this process is related to the definition of criteria to be a good successor, followed by the choice of possible successors, being the children the natural successors, but also considering other potential ones, and finally some considerations on the future of these companies.

Human Resource Management Succession Planning Guide, 2007

The Iowa Department of Administrative Services - Human Resources Enterprise (DAS-HRE) has developed a variety of tools and resources to address those concerns. Loss of institutional knowledge, or knowledge transfer as it is more frequently referred to, is one of the main topics of the Workforce Planning Guide. Potential difficulties finding new workers was one of the major reasons for adding a chapter on recruitment in the Applicant Screening Manual.

The Role of Succession Planning in Leadership Development

In progressive companies succession planning plays a vital role in leadership development. Some companies have neither succession planning nor ways to fill leadership gaps. On the academic side of research, this Capstone Project focuses on the role of succession planning in leadership development through various approaches and theories. The purpose of this Capstone Project is to provide HR professionals with solid mechanisms for identifying and preparing leaders for leadership roles through proper succession mapping within a company. Through the analysis of case studies and research, recommendations are made on the formulation of a decision tree so that succession planning may take a new place in leadership development in an organization.

Firmago S.A. - 2016: A deadline for succession

This paper, “Firmago S.A. - 2016: a deadline for succession”, is a case-based essay on a family business. It aims to provide the necessary tools for readers to best decide upon who should be chosen for the continuity of the family business after July 2016. Along with the case study the reader will have the opportunity to identify two main problems: blurred boundaries and the nonexistence of succession planning. In order to elaborate this case study I conducted several meetings with João Cabral, the current CEO of Firmago, who helped me understand the company’s background and the complexity of the family’s relationships. In order to fulfill the CEO’s requirement, all the real names and surnames of those from Firmago were replaced by fake names.

Strategy for succession in family owned small businesses as a wicked problem to be tamed

Contemporary strategic-planning processes don’t help family businesses cope with some of the big problems they face. Owner managers admit that they are confronted with issues, such as those associated with succession and inter-generational transfer that cannot be resolved merely by gathering additional data, defining issues more clearly, or breaking them down into small problems. Preparing for succession is often put off or ignored, many planning techniques don’t generate fresh ideas and implementing solutions is often fraught with political peril. This paper presents a framework to explore the idea of wicked problems, its relevance to succession planning in family businesses and its implications for practice and policy. A wicked problem has many and varied elements, and is complex as well as challenging. These problems are different to hard but ordinary problems, which people can solve in a finite time period by applying standard techniques. In this paper the authors argue that the wicked problem of family business succession requires a different approach to strategy, founded on social planning processes to engage multiple stakeholders and reconcile family/business interests to foster a joint commitment to possible ways of resolution. This requires academics and practitioners to re-frame traditional business strategic planning processes to achieve more sustainable family business futures.

Garland, since 1776- a unique ownership structure

The case is based on Garland, a 240 years old Portuguese family business, now owned by the Dawson family. It focuses on a decision made 50 years ago, aligned with what had been the company’s history, about the ownership rules for family members, which influences the ownership structure of the firm. It addresses the main issues about ownership in family businesses, and tackles the problem of succession planning and fair process. It contains a teaching note to support the utilization of the case in a classroom context, with learning objectives, target audience, a teaching plan, questions and proposed answers, and theory that relates to the case. It is also complemented with an epilogue and an overview of the case.

A management development strategy for the health and personal social services in Ireland

The integration of personal and organisational objectives is a notoriously difficult task but a systematic approach to training and development provides a powerful source of integration. A model illustrating how management development can occupy the 'middle ground' where organisational and individual development overlap is included in this report. Management development must be just one part of a continum, starting with workforce planning and recruitment and selection, and leading to training and development, succession planning and career development.

Seuraajasuunnitteluprosessi ja sen toimivuus KONE Oyj:n New Equipment Business -liiketoimintayksikössä

Tämä tutkimus käsittelee seuraajasuunnitteluprosessia ja sen toimivuutta. Tutkimus on tapaustutkimus, jossa tutkittava ilmiö eli seuraajasuunnittelu ja kohteena oleva tapaus eli organisaatio KONE Oyj:n yksi liiketoimintayksikkö New Equipment Business, NEB voidaan erottaa toisistaan. Tutkimuksen kohteena on seuraajasuunnitteluprosessin toimivuus tapausorganisaatiossa. Tutkimuksen tarkoituksena on hankkia tietoa ja ymmärtää prosessin toteutumista sekä löytää jo käytössä olevat parhaimmat käytännöt sekä merkittävimmät kehitysalueet. Tutkimuksen lähestymistapa on kvalitatiivinen. Seuraajasuunnitteluprosessin toimivuutta tutkittiin tekemällä teemahaastatteluja tutkimuksen kohteena olevan organisaation eri funktioiden henkilöstöpäälliköiden ja yksiköiden johtajien kanssa. Haastattelujen lisäksi tutkimuksessa käytettiin tausta-aineistona yrityksen sisäisiä arkistointitietoja ja materiaalia. Työn tuloksena saatiin selville, miten seuraajasuunnitteluprosessi toteutuu kohdeorganisaatiossa. Tutkimuksen tulosten perusteella näyttää siltä, että panostamalla talenttien kehitystoimenpiteisiin sekä lisäämällä henkilöiden liikkuvuutta yli organisaatiorajojen voidaan kehittää seuraajasuunnitteluprosessia vastaamaan tulevaisuuden haasteisiin.

Acquisitions: The Next Generation

This article reviews a broad range of trends and concerns regarding the recruitment, training, and retention of acquisitions librarians. The survey of trends benefits library educators and students, members of search commillees seeking to fill acquisitions vacancies, and working acquisitions librarians.

Planejamento sucessório na empresa familiar

Apresentação do conceito e características do planejamento sucessório, destacando a sua importância para a sobrevivência de um segmento típico da economia mundial; a Empresa Familiar. Analise das interpretações doutrinarias e jurisprudências das regras de concorrência entre cônjuge e descendentes, a luz do Novo Código Civil. Aplicação da teoria de planejamento sucessório em analise de caso prático, utilizando instrumentos do direito sucessório e do direito Societário.

Talent Management in Higher Education: Developing Emerging Leaders Within the Administration at Private Colleges and Universities

This research focused on identifying a series of successful practices relating to administrative talent management within the higher education setting. The field study included a thorough examination of seven small to mid-size private colleges and universities that have incorporated employee development strategies. These strategies were aimed at growing future leaders from within the organization in order to achieve continuity and support institutional priorities. Specifically, several focus areas were investigated including presidential vision, leadership commitment, talent management’s place among institutional priorities, program characteristics, and program evaluation. Among the commonalities that were gathered included support at the senior officer level who serve as advocates, mentors, and program facilitators, a strong connection between talent management and the institutions’ strategic plans, and a holistic approach to developing talent at all levels of the organizations. In addition, both coaching and opportunities for growth in the work environment were evident within several of the institutions. Also, academic leadership development was considered to be a part of the talent management strategy within three of the colleges and universities. The key differentiators included the incorporation of organizational and leadership competencies to provide focus toward the performance development process at two institutions, the implementation of a succession planning model at another institution, and the location of human resource generalists in departments across two of the institutions to identify learning opportunities for both individuals and work teams. Based on both the findings from the field study and the literature review, a comprehensive procedural model is introduced that serves to support human resource departments and higher education professionals, in general, who are looking to either begin or broaden their own talent management approach. However, despite the progress that has been made across several institutions noted throughout the research study, much more must be learned in terms of how the time and resources invested in talent management translates to institutional success. Advisor: James O‘Hanlon

Old captains at the helm: chairman age and firm performance

This paper examines whether the chairmen of the boards (COBs) impose their life cycles on the firms over which they preside. Using a large sample of unlisted firms, we find a robust negative relation between COB age and firm performance. COBs age much like ‘ordinary’ people. Their cognitive abilities deteriorate, and they experience significant shifts in motivation. Deteriorating cognitive abilities are the main driver of the performance effect that we observe. The results imply that succession planning problems in unlisted firms are real. Mandatory retirement age clauses cannot solve these problems.

Three Essays on Age and Firm Performance

Old captains at the helm: Chairman age and firm performance Urs Waelchli and Jonas Zeller December, 2012 This paper examines whether the chairmen of the board (COBs) impose their life-cycles on the firms over which they preside. Using a large sample of unlisted firms we find a robust negative relation between COB age and firm performance. COBs age much like ‘ordinary’ people. Their cognitive abilities deteriorate and they experience significant shifts in motivation. Deteriorating cognitive abilities are the main driver of the performance effect that we observe. The results imply that succession planning problems in unlisted firms are real. Mandatory retirement age clauses cannot solve these problems. Corporate Aging around the World Jonas Zeller January, 2014 This paper examines whether firms internationally age as US firms do (Loderer, Stulz, and Wälchli, 2013). Using a large panel, I find that Tobin’s Q monotonically falls with firm Age across all nineteen countries in the sample. The decrease varies across countries but is generally extremely robust and economically significant. ROA, sales growth, and market share decrease over a firm’s lifetime in most countries as well. Furthermore, older firms reduce their capital expenditures and R&D outlays. Instead, they distribute more cash to their shareholders. Overall, the results suggest that corporate aging is not confined to the US but is a genuine phenomenon that affects listed firms worldwide. This evidence supports the hypothesis that corporate aging is driven by managers who optimally focus on managing their assets in place and neglect the development of growth opportunities. I finally ask whether the managers’ choice and with it the magnitude of the decline in Tobin’s Q is a function of country-level institutional settings. I find that most notably firms age faster in countries where employees are relatively well protected by labor regulation. Is employment protection the fountain of corporate youth? Claudio Loderer, Urs Wälchli, Jonas Zeller* September 2014 Acharya, Baghai, and Subramanian (2012, 2013) find that employment protection legislation (EPL) encourages innovation. We argue that this effect should be particularly strong in mature firms. We would therefore also expect EPL to boost growth opportunities. Using the natural Experiment created by the staggered passage of changes in EPL across seventeen countries, we find evidence that employment protection legislation does indeed stimulate Innovation efforts, especially in mature firms. The effect is stronger in countries in which patents are owned by the firm and in the context of regular contracts. Consistent with that, EPL encourages risk taking. Overall, however, there is Little evidence that the effect of EPL on innovation effort translates into higher firm value, not even in mature firms. EPL does motivate employees in those firms to put in a greater effort, as evidenced by stronger sales growth. Yet it also increases costs, reduces profitability, and depresses Tobin’s Q ratios in all firms, especially the mature ones, possibly because of the rigidities that characterize these firms [Loderer, Stulz, and Waelchli (2014)].

Employee Leadership Development

Abstract \ The business importance of retaining and developing top performing employees is more crucial to business organizations that in the past, yet many organizations are not confident in their ability to staff leadership positions within the next five years. Many companies continue to run without a employee leadership development program. Organizations that shy away from development programs tend to do so because of fear the costs are too high. Organizations that support leadership programs acknowledge that the benefits far outweigh the costs. In this capstone study, the researcher illustrates that employee leadership development programs add value through improved business strategy and employee satisfaction, and as a result, represent a worthy investment.

Recruitment, Socialization, and Accountability of School Administrators in Two Urban School Districts

Due to the impending shortage of qualified candidates for administrator positions, school districts are faced with the challenge of attracting and preparing candidates for the administrator role. This empirical study focused on leadership succession planning and leadership development in response to meeting the demands of the social preoccupation of accountability.