BMGT 365 UMGC Succession Planning Discussion
Description
BMGT 365 – Team Deliverable #2 – Succession Planning for – Part One
Purpose:
The purpose of this project is to gain an understanding of succession planning and what it means to plan for future leadership that is aligned with an organization’s core values and leadership competencies.
Skill Building:
You are also completing this project to help you develop the skills of research, critical thinking, teamwork, and writing a report intended for executive review. Writing is critical because, in business, it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others, especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions.
Skills: Writing, Critical Thinking, Developing a Personal Brand, Succession Planning, Writing a Succession Plan Report.
Outcomes Met With This Project:
Use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skills;
Assess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practices;
- Collaborate in teams utilizing effective communication techniques;
- Develop individual awareness, style, and communication skills that enhance leadership skills;
- Integrate and apply analytical principles and skills to make strategic decisions.
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- Background: Your Group has been assigned to be part of the Succession Plan Committee at Life Science Nutraceuticals, Inc. (LSN).
This Committee has been hard at work for months, planning the successor for Alexandra Marvel and the rest of the executive team (largely occupied by the Marvel). They have assigned your group to complete the Succession Plan for five key leadership positions at LSN. These positions will need to be filled over the next 12-24 months. There is not an immediate need for any of them currently, but vacancies will be imminent. The preference is to fill these internally, but Ms. Marvel, the CEO, has stressed that if the right leader for a position does not exist already within the company, she would rather search for someone external to the company.
Instructions:
Step 1: Course Material (All readings have been added to the attachments or links below)
For this project, you are required to use the case scenario facts and the course material. External sources are not permitted. You are not researching on the Internet or using resources from outside the course. You are expected to answer the requirements identified below, showing the connection between the case scenario facts and the course material. Using course material goes beyond defining terms and explains the ‘why and how’ of a situation. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally, showing an understanding of the logical connections between the ideas presented in a case scenario, the course material, and the question(s) being asked. Using one or two in-text citations from the course material throughout the entire paper will not earn many points on an assignment. The use of a variety of course material is expected to support what is presented consistently. The support must be relevant and applicable to the topic being discussed. Points are not earned for mentioning a term or concept but by clearly and thoroughly explaining or discussing the question at hand.
Reading Links:
https://www.slideshare.net/openinnovation/visions-…
https://www.forbes.com/sites/rogertrapp/2014/03/23…
https://workforce.com/news/succession-planning-roa…
https://iveybusinessjournal.com/publication/strate…
https://yourbusiness.azcentral.com/strategic-think…
Step 2: Preparation
Review the Leadership Competencies Table completed in Week Two to accompany the Job Announcement. (In the attachments)
Step 3: Upcoming Open Positions at Life Science Nutraceuticals, Inc. (LSN)
Read the five different upcoming positions for which your group has been tasked with filling.
As part of the Succession Plan Committee, your team has been tasked with identifying future leaders for the following five positions that will be open over the next 12-24 months:
Position 1: Sales Director, Middle East
Location: Riyadh, Saudi Arabia
Reports to: Executive Director, Asia Division
LSN’s Asia Division will be opening its first Middle East location in Saudi Arabia in the next 12 months. An Operations Director will be needed to head up this new division. A team of local salespeople will need to be recruited, hired, and trained by this leader. It is expected that this sales team may be largely men.
Two sources that are recommended for more information about doing business in Saudi Arabia are:
Guide to Saudi Arabia Etiquette, Customs, Culture, and Business
Position 2: Director of Research and Development (R&D)
Location: Headquarters Miami, Florida
Reports to: President & CEO Alexandria Marvel (Headquarters)
Research and Development (R&D) is at the heart of its success and, indeed, its future. The R&D leader will lead a group of scientists and innovators. R&D is located at Headquarters because R&D coordinates with all other departments and divisions throughout the various worldwide LSN locations. This is a high-profile position.
Position 3: VP Headquarters Operations
Location: Headquarters Miami, Florida
Reports to: President & CEO Alexandria Marvel (Headquarters)
Headquarters houses R&D, HR, IT, Purchasing, and Finance. Each department has its own “subculture,” and each department is fairly distinct from the other. The young, youthful subculture of IT often clashes with the conservative subculture of the Finance department, for example. Many of the members of the Finance and HR teams are baby boomers and are near retirement. This leader oversees the smooth operation of all of these departments and ensures the coordination of these departments with each other and with each of the four geographic divisions across the world.
Position 4: Executive Director, North American Division
Location: Chicago, Illinois
Reports to: President and CEO
This leader will head up the largest and most profitable division of LSN. This division is seen as the “flagship” by the other divisions since the company’s roots are in the United States. This Executive Director has the “ear” of the CEO and spends a lot of time with the family. This leader is faced with spearheading the future direction of LSN in North America and is challenged with filling openings throughout the United States and Canada caused by fast growth and a retiring Baby Boomer population.
Position 5: Director of Finance
Location: Headquarters, Miami, Florida
Reports to: Chief Financial Officer
This leader oversees the day-to-day operations of the finance department. This leader is expected to aid in strategic planning with the executive team of LSN. Although a finance background is not required, this person is expected to bring a conservative approach to the strategic planning table to balance out the high-risk tolerance of the rest of the leadership at LSN. A “big picture” perspective is definitely needed here.
Step 4: Complete Succession Planning Table
Complete the Succession Planning Table-Part One to help guide your decision-making approach. (Table is in the attachments)
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***This is the Step that I am requesting assistance on***
Step 5: Complete Succession Planning Report
Complete the Succession Planning Report-Part One. This is the report that President and CEO Alexandria Marvel will review.
Your Group’s Succession Planning Report – Part One will be addressed to Alexandria Marvel, President, and CEO. The report should address all of the following elements, with each section supported by course materials.
Follow the following report format:
1) Introduction:
An overview of succession planning and why it is important to the future of LSN.
A brief review of the leadership competencies important for LSN.
2) Succession Planning as part of Mission, Vision, and Strategy:
A description of how the Succession Plan for LSN should be aligned with its mission and vision.
A description of how the Succession Plan should be aligned with LSN’s strategy
A description of how strategic thinking should be used as part of the succession planning process.
3) Recommendations:
For each of the five positions, identify the leadership competencies most important for those positions. Support your recommendations with course materials.
4) Summary:
Describe briefly to Alexandria Marvel why your group’s recommendations are important for LSN’s future.
5) Reference Page: (in APA format)
*Other Required Elements:*
Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met to lead to the highest possible grade.
Third-person writing is required. Third-person means that there are no words such as “I, me, my, we, or us” (first-person writing), nor is there use of “you or your” (second-person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third- person.
Contractions are not used in business reports, so do not use them.
Paraphrase and do not use direct quotation marks. This means you do not use more than four consecutive words from a source document but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format.
Unformatted Attachment Preview
Mission, Vision, Values, and Goals
Learning Topic
Mission, Vision, Values, and Goals
Mission and vision both relate to an organization’s purpose and are typically communicated in some
written form. Mission and vision are statements from the organization that answer questions about who
the organization is, what it values, and where it’s going. A study by the consulting firm Bain and
Company reports that 90 percent of the 500 firms surveyed issue some form of mission and vision
statements (Bart & Baetz, 1998). Moreover, firms with a clearly communicated, widely understood, and
collectively shared mission and vision have been shown to perform better than those without them, with
the caveat that these statements related to effectiveness only when strategy, goals, and objectives were
aligned with them as well (Bart, Bontis, & Taggar, 2001).
A mission statement communicates the organization’s reason for being, and details how it aims to serve
its key stakeholders. Customers, employees, and investors are the stakeholders most often emphasized,
but other stakeholders, like government or communities (relating to social or environmental impact), can
also be discussed. Mission statements are often longer than vision statements. Sometimes, mission
statements also include a summation of the firm’s values, or beliefs in which the organization is
emotionally invested. The Starbucks mission statement, for example, has described four guiding
principles that also communicate the organization’s values (Starbucks, n.d.):
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Mission, Vision, Values, and Goals
creating a culture of warmth and belonging, where everyone is welcome.
acting with courage, challenging the status quo and finding new ways to grow our company and
each other.
being present, connecting with transparency, dignity and respect.
delivering our very best in all we do, holding ourselves accountable for results.
A vision statement, in contrast, is a future-oriented declaration of the organization’s purpose and
aspirations. The mission statement lays out the organization’s “purpose for being,” and the vision
statement then says, “based on that purpose, this is what we want to become.” Strategy should be
directly based on the organization’s vision, since the strategy is intended to achieve the vision and
thereby satisfy the organization’s mission. Typically, vision statements are brief. Sometimes the vision
statement is also captured in a short tag line, such as Toyota’s “Let’s Go Places” statement that appears
in most communications to customers, suppliers, and employees. Similarly, Wal-Mart’s tag-line version
of its vision statement is “Save money. Live better.”
Any casual tour of business or organization websites will expose you to the range of forms that mission
and vision statements can take. To reiterate, mission statements are longer than vision statements, often
because they convey the organization’s core values. Mission statements answer the questions, Who are
we? and What does our organization value? Vision statements typically take the form of relatively brief,
future-oriented statements and answer the question, Where is this organization going? Increasingly,
organizations also add a values statement, which either reaffirms or states outright the organization’s
values that might not be evident in the mission or vision statements.
Roles Played by Mission and Vision
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Mission and vision statements play three critical roles: (1) communicate the purpose of the organization
to stakeholders, (2) inform strategy development, and (3) develop the measurable goals and objectives
by which to gauge the success of the organization’s strategy. These interdependent, cascading roles, and
the relationships among them, are summarized in the figure below.
Key Roles of Mission and Vision
First, mission and vision provide a vehicle for communicating an organization’s purpose and values to all
key stakeholders. Stakeholders are those key parties who have some influence over the organization or
stake in its future, including employees, customers, investors, suppliers, and institutions such as
governments. Typically, these statements are widely circulated and discussed often so that their
meaning is broadly understood, shared, and internalized. The better employees understand an
organization’s purpose, through its mission and vision, the more able they will be to understand the
strategy and its implementation.
Second, mission and vision create a target for strategy development. One criterion of a good strategy is
how well it helps the firm achieve its mission and vision. To better understand the relationship among
mission, vision, and strategy, it is sometimes helpful to visualize them collectively as a funnel. At the
broadest part of the funnel, you find the inputs into the mission statement. Toward the narrower part of
the funnel, you find the vision statement, which has distilled the mission in a way that it can guide the
development of strategy. In the narrowest part of the funnel, you find the strategy—it is clear and
explicit about what the firm will do, and not do, to achieve the vision.
Vision statements also provide a bridge between the mission and the strategy. In that sense, the best
vision statements create a tension and restlessness with regard to the status quo. They foster a spirit of
continuous innovation and improvement. London Business School professors Gary Hamel and C. K.
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Prahalad (1993) describe this tense relationship between vision and strategy as stretch and ambition.
Indeed, in a study of CNN, British Airways, and Sony, they found that these firms displaced competitors
with stronger reputations and deeper pockets through their ambition to stretch their organizations in
more innovative ways.
Mission, Vision, Strategy, Goals and Objectives for Stakeholders
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Third, mission and vision provide a high-level guide, and the strategy provides a specific guide to the
goals and objectives showing success or failure of the strategy and satisfaction of the larger set of
objectives stated in the mission. In the cases of both Starbucks and Toyota, you would expect to see
profitability goals, in addition to metrics on customer and employee satisfaction, and social and
environmental responsibility.
Conclusion
Mission and vision both relate to an organization’s purpose and aspirations, and are typically
communicated in some form of brief written statements. A mission statement communicates the
organization’s reason for being and how it aspires to serve its key stakeholders. The vision statement is a
narrower, future-oriented declaration of the organization’s purpose and aspirations. Together, mission
and vision guide strategy development, help communicate the organization’s purpose to stakeholders,
and inform the goals and objectives set to determine whether the strategy is on track.
References
Bart, C. K., & Baetz, M. C. (1998). The relationship between mission statements and firm performance:
An exploratory study. Journal of Management Studies, 35, 823–853.
Bart, C. K., Bontis, N., & Taggar, S. (2001). A model of the impact of mission statements on firm
performance. Management Decision, 39(1), 19–35.
Hamel, G., & Prahalad, C. K. (1993, March–April). Strategy as stretch and leverage. Harvard Business
Review, 75–84.
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Starbucks. (n.d.) Our mission. Retrieved from https://www.starbucks.com/about-us/companyinformation/mission-statement
Licenses and Attributions
4.3 The Roles of Mission, Vision, and Values (http://open.lib.umn.edu/principlesmanagement/chapter/43-the-roles-of-mission-vision-and-values/)
from Principles of Management by the University of
Minnesota Libraries Publishing is an adaptation of a work whose original author and publisher request
anonymity and is available under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0
International (https://creativecommons.org/licenses/by-nc-sa/4.0/)
license. UMGC has modified this
work and it is available under the original license.
© 2022 University of Maryland Global Campus
All links to external sites were verified at the time of publication. UMGC is not responsible for the validity or integrity of information located
at external sites.
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1
Team Deliverable #1 Leadership Competencies Table
Group 2
Ricky Dray, Renatta Foston, Sofia Garcia, and Christopher Gelfand
University of Maryland Global Campus
BMGT 365 7387 Organizational Leadership
29 March 2022
Professor Luis Moncayo
2
LSN Leadership Competencies Table
LSN has identified the following four core values:
Customer-centricity, Innovation, Knowledge, & Sustainability
LSN has identified leadership competencies aligned with its core values of Performance and
People:
LSN Core Value
Leadership Competencies (follow examples
above)
Customer-centricity Provide extraordinary customer experience
Encourage employees to visualize themselves as
customers
Maintain relationships
Innovation
Promote preservation and restoration in natural
ingredients
Demonstrate support in collaborative decisionmaking
Develop others
Knowledge
Enhance business and strategic skills
Display and share company practices and beliefs
Exhibit industry awareness
Sustainability
Foster cultural interest
(for profit and
Influence performance
planet)
Demonstrate social responsibility
Source (Author,
Year)
UMGC, n.d.
UMGC, n.d.
SHRM, 2008
UMGC, n.d.
UMGC, n.d.
SHRM, 2008
SHRM, 2008
UMGC, n.d.
SHRM, 2008
SHRM, 2008
UMGC, n.d.
SHRM, 2008
Source: SHRM-Society of Human Resources. (2008). Leadership competencies.
https://www.shrm.org/ResourcesAndTools/hr-topics/behavioral-competencies/leadership-andnavigation/Pages/leadershipcompetencies.aspx
Source: University of Maryland Global Campus. (n.d). Life science nutraceuticals, inc. company
profile. Week 2: Leadership styles, traits, attributes, competencies. Document posted in UMGC
BMGT 365 7387 online classroom, archived at https://learn.umgc.edu
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