Succession planning for large businesses
Robust succession plans can enable a Board to ensure their organisation remains in good hands for years to come, address any potential skills gaps, and reap the benefits of increased diversity.
Boards play a vital role in delivering the long-term success of an organisation, both through shaping its purpose and values and in ensuring sound performance on an ongoing basis.
The best boards never take success for granted. They are constantly seeking to improve; sometimes through steady incremental change, and at other times by embracing the risks of transformation and innovation.
Successful boards recognise that ‘business as usual’ nowadays involves operating globally in conditions of complexity, uncertainty and continuous change. Leading-edge businesses are committed to building financial capital but equally know that this is no longer sufficient on its own.
Our Board Polarities model focuses on both outcomes and behaviours, considering those in the boardroom and the wider business.
We look at how boards manage potentially competing priorities for time and focus. It explores the board’s role in setting strategy and then successfully implementing it; in balancing risk and entrepreneurship; and in directing a values-led organisation whilst securing reasonable financial returns to reward shareholders, employees and other key stakeholders.
Within the boardroom, the model goes on to look at how well individual members of the board perform their functional roles alongside their effectiveness as a team, together with their ability to lead the board successfully both in ‘normal’ times and in a crisis.
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