Business Management - Succession Planning

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Biotech Succession Planning

Biotech Succession Planning

Biotech produces health and life products that are effective, affordable, and natural. The business vision and mission has created a formula for success since Biotech’s inception. The Biotech Company is growing rapidly and therefore skills and competencies are needed for the locals working to be promoted and successfully be able to take duties from their seniors. An effective succession plan involves identifying the skills and leadership competencies that will allow the Biotech Company to continue succeed and expand.

Biotech is a rapidly growing sales company their leadership competencies that are required of the local sales representatives for them to continue working and or succeed the senior officials of the company. The leadership competencies required at the Biotech are; one should be able to relate well with the customers of Biotech Company, should be a very honest person to the company, stakeholders and the customers, one should be bold and not fear any decisions he makes to support the overall objective of the company, should respect the laws and ethics of the company, should have the knowledge of the global market, be willing to embrace change for the better company and should work to achieve the best with or without supervision. Rethinking the leadership competencies, (JA Conger, DA Ready, 2004).

Succession Plan as part of Mission, Vision, and Strategy

The Biotech Company has a well-laid vision, they ensure that everyone is given the healthiest life using the most natural way and with a mission to produce and develop safe products, effective in use and that a customer can easily afford and always ensure the natural culture in their products. By exploring on the plan on which the company can have its succession of their employees by the other sales team and featuring the leadership competencies that everyone has in order to successfully take over a given position in the company, this ensures that the overall goal stated by the company under the vision and mission will be achieved. The Biotech Company has a long-term pattern of planning that should not be of more than three years this is to allow flexibility in the company's organizational structure which in this case, the succession planning is very important to the Biotech Company. The Company has also embraced innovation which will require the best assessment of leadership competence under succession planning.

Succession Plan as part of the Mission and Vision

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Succession Plan as part of the Strategy

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Succession Plan as part of the Strategic Thinking

The company’s strategy of planning of not more than three years, embracing innovations, sustainability of profit, keeping their originality in the job market and therefore protection and control of the product quality is the order of the company meaning that a strong personnel must be always available to take over arising duties under different positions, therefore, strategic plan can also be used in succession planning.

Recommendations

The following are the upcoming Biotech leader's open positions and the requirements as stated by the succession planning committee of the Biotech Company.

Position	Leadership Competencies	Source
Sales Director, Middle East (Saudi Arabia)	Global/Cultural Intelligence	Canwell, Stockton, Dongrie, & Neveras, 2014, p. 12
	Proactive Actions	Bianca, 2016, para. 5
	Team Building Skills	Gilmore, n.d., para. 3
	Honorable	Kirkpatrick & Locke, 1991, p. 7
Director of Research and Development	Innovative	“Strategic Thinking: 11 Critical Skills Needed,” n.d., para. 2
	Collaborative	Gandolfi & Stone, 2017, p. 8
	Persistent	Kaufman, 2014, para. 2
	Passion to Influence	Ledford & Lockwood, 2008, para. 6
VP of Headquarter Operations	Generational Diversity	Ledford & Lockwood, 2008, para. 4
	Strategic Thinking	Bianca, 2016, para. 1
	Collaborative	Canwell, Stockton, Dongrie, & Neveras, 2014, para. 6
	Global Knowledge	Ledford & Lockwood, 2008, para 5
Executive Director, North American Division	Interpersonal Skills	Kaufman, 2014, para. 9
	Visionary	Fuller & Green, 2005, para. 5
	Succession Planning	Flowers, 2017, para. 2
	Influence Bottom Line	Canwell, Stockton, Dongrie, & Neveras, 2014, para. 6
Director of Finance	Conservative	“Strategic Thinking: 11 Critical Skills,” n.d., para. 12
	Awareness of “Big Picture”	“Strategic Thinking: 11 Critical Skills,” n.d., para. 6
	Problem Solving	Bianca, 2016, para. 3
	Influence Others	Rowe & Nejad, 2009, para. 8

Table 1 - Succession Planning Table

Position 1: Sales Director, Middle East

The position is a management role, therefore, the candidate should exhibit leadership competencies such as knowledge concerning the global market, should be familiar with the business and should know cultural and traditional norms of the people of Saudi Arabia.

Position 2: Director of Research and Development (R&D), New York

The main task is to answer to the Vice President, Headquarters operations, therefore the position is the determining factor of the success of the company. Therefore, the recruitment requires a person who obeys the laws and ethics of the company and should be able to handle and manage change.

Position 3: Vice President of Headquarter Operations, New York

The main duty is to answer to President and the C.E.O. The Vice President watches over four departments; Information Technology, IT, Human Resource, Research and Development and Finance department. The best candidates should have the ability and spirit to lead others, work beyond expectations and be a team player.

Position 4: Executive Director, North American Division

The Executive Director is responsible for spearheading the future directions of the company, should be aware of the company and be honest and truthful.

Position 5: Director of Finance, New York

The Director of Finance answers to the Chief Financial Officer. They check the overall financial operations of the company, they assist the executives of the company, the C.E.O and the President is laying out the strategy of the company. This position is a crucial position to the company and the succession planning requires a candidate with confidence and who will make crucial decisions concerning the company without fear, should be able to build the functional team with the debarments he oversees and should be able to identify and prioritize the projects that will help the company.

Summary

Based on the business foundations, its mission, vision and the strategic plan, as well as the organizational structure of the company, the succession planning team, has come up with the leadership competencies that are required from each candidate in a different position. This will help the company to sustain the quality of nature.

References Bradford, R. (n.d.). Critical Strategic Thinking Skills. Retrieved from https://www.cssp.com/CD0808b/CriticalStrategicThinkingSkills/ Canwell, A., Stockton, H., Dongrie, V., & Neveras, N. (2014, March 7). Leaders at all levels. Retrieved from https://www2.deloitte.com/insights/us/en/focus/human-capital-trends/2014/hc-trends-2014-leaders-at-all-levels.html Comstock, N. W. (2018). Critical Skills: Leadership. Salem Press Encyclopedia. Retrieved from http://ezproxy.umuc.edu/login?url=http://search.ebscohost.com.ezproxy.umuc.edu/login.aspx?direct=true&db=ers&AN=98402056&site=eds-live&scope=site Conger, J. A., & Fulmer, R. M. (2003, December). Developing Your Leadership Pipeline. Retrieved from https://hbr.org/2003/12/developing-your-leadership-pipeline Council on Accreditation Blog. (2017, October 10). 9 Tips for Effective Succession Planning. Retrieved from https://www.coablog.org/home/2017/10/10/succession-planning-the-key-to-effective-leadership-transitions Farah, B., Elias, R., De Clercy, C., & Rowe, G. (2019). Leadership succession in organizations: What business and political successions may learn from each other, concerning succession? The Leadership Quarterly. Fister Gale, S. (2013, March 11). Succession Planning Roadmap. Retrieved from https://www.workforce.com/2013/03/11/succession-planning-roadmap/ Gray, N. (Ed.). (2018, April 10). Leadership Competencies. Retrieved January 23, 2019, from https://www.shrm.org/resourcesandtools/hr-topics/behavioral-competencies/leadership-and-navigation/pages/leadershipcompetencies.aspx Gritzo, L., Fusfeld, A., & Carpenter, D. (2017). Exploring the Principles of R&D Leadership with Award-Winning R&D Leaders. Research Technology Management, 60(3), 18. https://doi-org.ezproxy.umuc.edu/10.1080/08956308.2017.1300999 Nejad, M. H., & Rowe, W. G. (2009, September/October). Strategic leadership: short-term stability and long-term viability. Retrieved from https://iveybusinessjournal.com/publication/strategic-leadership-short-term-stability-and-long-term-viability/ Schawbel, D. (2012, August 15). The Power Within: Why Internal Recruiting & Hiring Are on the Rise. Retrieved from http://business.time.com/2012/08/15/the-power-within-why-internal-recruiting-hiring-are-on-the-rise/