Kindly summarize the below, for a powerpoint presentation?
Kindly summarize the below, for a powerpoint presentation? please and thank you.
Succession planning
According to Gagné et al., (2021), succession planning is defined as providing coaching as well as the development of the successors of people in the business and outside of the firm to take the key positions in the business through an organized process to assess and train. It makes sure to the proper transition of the power in the leadership roles. It is a process to develop the talents to replace the leaders and other employees when they move to other roles and leave the business. Effective succession planning is working by assessment of the requirements of the staff they arise and creating long term goals of the business to manage the gaps, including the development of leadership.
Based on the selected research topic, succession planning, two research papers are selected. According to Gagné et al., (2021), approximately 80%of the worldwide business structure is representing the family businesses. Maintaining family control across various generations is elaborated increasing sum of the family members in the ownership of the firm, governance as well as administration that is highlighting uniqueness of the family businesses. It is found that complexity of the family firm tends to rise over time, and it causes variation in ownership of the structure that consequence in ownership dispersal as well as alterations in the governance features. Succession planning is critical to the family business as the firm is likely to achieve a competitive advantage and improve relations among employees as well as business. It enables a conclusive role to determine future success and failure of the performance of the employees and business firm. The evidence suggested that succession planning is an important factor to make sure that there is effective succession for the sustainability of the family business (Gagné et al., 2021).
As per the other research paper, the author found that involvement of the top management team in the family business is facing mobilization of the resources along with deployment. The concept of transgenerational entrepreneurship assumes that success of the family firm amongst the generations is focused on three dimensions like firm business alignment, relations plus culture settings (Campopiano, Calabrò, & Basco, 2020). It is affecting the financial and market performance of the family business. For the family business, there is required to have succession planning to enhance the development of training as well as learning opportunities to benefit the employees. The findings contributed towards better understanding of the phenomenon and showed a position of interaction among the business alignment as well as familiness for corporate success.
Relating Succession planning to Bollore Se
For this research study, the selected family business is Bollore SE, where the business is interested in the universal music group, forwarding of international freight, storage of oil, access
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