CHAPTER 1: INTRODUCTION 1.0 Chapter Overview - DSpace@UM

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usiness plan can only be realized when the right people are at right place and at the righttime to do the right things.According to Falmer (2002), in recent years many organizations have moved away fromthe traditional term of succession planning to “talent management”, a term that is moreinclusive of the many activities that are necessary in identifying, developing, andretaining talent. This broader understanding of succession planning allowed theorganization to look beyond the issue of knowing who would replace someone, and tolook at the supportive factors needed to develop and retain talent throughout theorganization.2.2 Why Succession Planning Matters?The topic of “succession” only become popular in the last 15 to 20 years due to highlypublic and disastrous leadership transition at successful companies like General Motors(Robert Stempel), AT&T (Robert Allen) and Eastman Kodak (Kay Ehitman), as reportedby Charan (2001). He further emphasizes that corporate leaders must pay seriousattention to develop and train their existing executives who will face the futureorganizational challenges. Otherwise, survival of the organization is at stake when theexisting key personnel leave the organization due to retirement, resignation, suddendeath, etc. Organizational leadership is in crisis when the transfer of “how to get workdone” process is being lost with aging and retirement of senior management and the18
mobility of the younger workforce (Rothwell, 2001). Thus, the potential for leadershipdisasters appears to be inevitable for those who are unprepared.There are a number of factors that have and will continue to shape the businessenvironment and role of company executive in the future including globalization, hypercompetition,technology, the expectation of board and financial markets, an emphasis oncustomer relationships, changing employee expectations and workforce demographic(Barrett & Beeson, 2002). All these factors stressed that succession planning mustflourish in an organization for business continuity and to sustain competitive advantage.Rothwell (2005) and Swanston (2007) indicate that challenges associated with growingaging global workforce would be another reason why succession planning is important.The retirement of baby boomers generation (those who were born from 1946 through1964) may have greater impact on occupations with functions not easily replaced bytechnology-driven productivity innovations, such as many of the jobs in the financialservices sector: customer service representatives, branch managers and executive officer.Therefore, effective succession planning helps to retain the loss of valuable institutionalmemory when experienced workers leave the organization.Also, organizations are often faced with the need to replace key management staff on avery short notice due to rapid change of merger, acquisitions, downsizing, rightsizing,and reengineering. These increase the competitive market for skilled and talentedindividuals (Orellano, 1997). Corporate leaders are not only responsible for the19
Page 2 and 3: the resources and support to establ
Page 4 and 5: Cheng (2007) indicates that expatri
Page 6 and 7: employees. It also indicates that t
Page 8 and 9: Figure 1.1: Malaysia’s Population
Page 10 and 11: 1.4 Objective Of The StudyThe ultim
Page 12 and 13: formal succession planning in their
Page 14 and 15: The final chapter concludes the res
Page 16 and 17: develop intellectual and knowledge
Page 20 and 21: acquisition and retention of custom
Page 22 and 23: 1) Helped organization with interna
Page 25 and 26: Australian firms. It is reported th
Page 27 and 28: four possible candidates that could
Page 29 and 30: 2) Tied the succession planning pro
Page 31 and 32: In 1986, Hall conducted a research
Page 33 and 34: The characteristics of an effective
Page 35 and 36: 3) Development plans for future lea
Page 37 and 38: Busine & Watt (2005) recommend seve
Page 39 and 40: Figure 3.1: Theoretical Framework:
Page 41 and 42: management policies, practices and
Page 43 and 44: 12) Need to increase retention.In S
Page 45 and 46: 3.3 Sampling DesignThe data for thi
Page 47 and 48: 3.5 Data Analysis TechniquesThe dat
Page 49 and 50: CHAPTER 4: RESEARCH RESULTS4.0 Chap
Page 51 and 52: Out of the 108 responding firms, 53
Page 53 and 54: Table 4.3: Characteristics Of The D
Page 55 and 56: number of vacancies” on the quest
Page 57 and 58: In terms of organizational levels o
Page 59 and 60: demand in the business which had cr
Page 61 and 62: Prior studies found that the most e
Page 63 and 64: Table 4.9: Methods Used For Evaluat
Page 65 and 66: conduct when the participants in on
Page 67 and 68: H1 (b): There is a significant diff
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of practices and approach of succes
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Olkin (KMO) were also used to asses
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Whereas the second factor (F2), cla
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3.00 on average, indicating that th
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4.8 Pearson Product-Moment Correlat
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Based on the results reported in Ta
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4.9 Multiple Regression AnalysisMul
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independent (succession planning ch
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there was no serious multicollinear
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CHAPTER 5: CONCLUSIONS AND RECOMMEN
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eliability estimate. In addition, t
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a key talent or leadership can happ
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While this study attempt to look in
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products/services, and retention of
Page 98 and 99:
Buckner, M., & Savenski, L. 1994, S
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Falmer, R.M. 2002, Choose Tomorrow
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Kim, S. 2003, “Linking employee a
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Rothwell, W.J. 2001, Effective Succ
Page 106:
Zikmund, W.G. 2003, Business Resear
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