CHAPTER 1: INTRODUCTION 1.0 Chapter Overview - DSpace@UM

managers who do not have strong academic background can use this report to drawbusiness and organizational strategies.The present study also helps to provide greater understanding on current practices andapproach of succession planning as adopted by firms in Malaysia. The findings from thestudy can be used as a benchmark to integrate a formal succession planning system that iscustomized to meet the specific needs of the organization and every facet of its business.The present study also shows that large firms are more likely to adopt a formalsuccession planning system as compared to medium and small sized firms. Hence, thisinformation can be used by HR practitioners and consultants to develop or create a moresuitable succession planning system to cater for medium and small-sized firms atreasonable costs. In addition, findings from the study can also be used by trainingproviders or HR consultants to design relevant training program in the area of successionplanning in order to cater for individuals who are responsible or involved in designingand implementing succession plans.The result of the study shows that succession planning characteristics have an impact onorganizational performance. This implies that organization which has a sophisticated oreffective succession planning characteristics develops superior organizationaloutcomes/performance. Organizations with effective succession management systems aremore likely to outperform those with ineffective systems in the area of financialperformance, productivity, customer satisfaction, employee satisfaction, quality of95