CHAPTER 1: INTRODUCTION 1.0 Chapter Overview - DSpace@UM

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2.6 Succession Planning And Firm Listing (Listed /Unlisted)Succession planning is given more attention now at public listed companies since the2002 Sarbanes-Oxley Act forced corporate boards to improve their governance practices(Wall, 2007). Similarly, in Malaysia, Part 2 (Best Practices In Corporate Governance) ofthe Malaysian Code On Corporate Governance (Revised 2007) requires all public listedcompanies (PLCs) to have a formal succession planning for its senior management. Thisrequirement is part of the principal responsibilities of the Board of Directors. Bukart et al.(2002) argue that the type and quality of the regulatory framework and corporategovernance structures can influence succession.In countries where there are weak governance structures and poor systems to protectinvestors, then the separation of ownership and management is generally seen to be toorisky. As a result, successors will normally be family members. Alternatively, incountries where governance measures are strong, family businesses may appoint aprofessional manager as successor without placing the family business interests at themercy of vested interests outside the family. Thus, what emerges is a correlation betweenan increase in corporate governance and the possibility of appointing a professionalmanager as successor. According to the founder of Asia HRD Congress Dr. Palan andAsia Strategic & Leadership Institute (ASLI) CEO Datuk Michael Yeoh, Malaysiancorporations are now more aware of the need for succession planning to establishbusiness continuity in the interest of stakeholders. Listed companies on Bursa Malaysiahave now taken active measures to develop succession plan and they have now three or26
four possible candidates that could replace the CEO if required, reports Yap & Ang(2007a).2.7 Succession Planning And Industrial SectorBased on a study conducted by Tracy & McGraw (2004), it was found thatmanufacturing, transportation, communication and retail/wholesale sector organizationswere significantly more likely to have formal succession management program, whereaseducation and service-based industries were least likely to have formal plans.2.8 Succession Planning And Firm AgeMotwani, Levenburg & Schwarz (2006) have surveyed 368 family-owned small tomedium-size enterprises (SMEs) in USA and found that there was no evidence ofrelationship between firm size and the age of the firm with regards to the importance,nature and extent of succession planning.2.9 Succession Planning And Organizational Outcomes/PerformanceThe ultimate goal of succession planning is to improve organizational performance.Studies of succession outcomes typically seek to evaluate the survey conducted byFriedman (1986) on executive succession in 235 American firms and have concluded thateffective succession planning is clearly linked to corporate performance.27
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 18 and 19: usiness plan can only be realized w
Page 20 and 21: acquisition and retention of custom
Page 22 and 23: 1) Helped organization with interna
Page 25: Australian firms. It is reported th
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
Page 69 and 70: of practices and approach of succes
Page 71 and 72: Olkin (KMO) were also used to asses
Page 73 and 74: Whereas the second factor (F2), cla
Page 75 and 76: 3.00 on average, indicating that th
Page 77:
4.8 Pearson Product-Moment Correlat
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Based on the results reported in Ta
Page 82 and 83:
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
Page 94 and 95:
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
Page 102 and 103:
Kim, S. 2003, “Linking employee a
Page 104 and 105:
Rothwell, W.J. 2001, Effective Succ
Page 106:
Zikmund, W.G. 2003, Business Resear
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