Disney: Effective Communication on Succession Planning
Case studies and researchers have implied time and time again that succession planning starts with the top of corporations’ hierarchy chart. The hierarchy chart consists of the board of directors, the chief executive officer (CEO), and human resources (HR) who are responsible for a well-developed and communicated succession plan to address any nature and man-made disasters as they arise to the organization as a whole. As the world continues to change, corporate governances’ responses to succession planning and communications must evolve, too. In regards to the Walt Disney company (Disney), the company is currently experiencing succession issues, which affects the efficiently of communicating …show more content…
Once the data has been collected, the board of directors and the CEO can include this information into the talent search the next CEO’s qualifications (Abernathy & Chastain, 2011). Another method is the Disney board draw up their succession plan (Olson, Remick, & Tapia, 2015). The board creates a succession of their expectations of what the new CEO, it keeps the board active in the corporate’s culture and have management ready to fill positions at the last minute if necessary (Olson et al., 2015). The final practice tie performance and pay to each other (Hummel, 2016). Disney is about creating new ideas and attractions to entertainment the public in person and film; the successor will be held accountable for developing visions if he or she expects to get paid (Hummel, 2016). Alongside confronting succession barriers and practices to overcome resistance, the role of corporate governance plays in appointing a new leader is a deciding factor if Disney’s financial performance will be a triumph in the …show more content…
Since its erection, the company only had a handful of CEOs but only in the early 2000s, succession planning became accepted (“The King Lear Syndrome,” 2003). It is important to initiate a new successor processor because it is not smart to have one person making all the important decisions when other people have a stake in seeing the organization performing extraordinary than the competition. Thereby, when employees are a part of the succession, the process opens up opportunities for workers to further their career
Case studies and researchers have implied time and time again that succession planning starts with the top of corporations’ hierarchy chart. The hierarchy chart consists of the board of directors, the chief executive officer (CEO), and human resources (HR) who are responsible for a well-developed and communicated succession plan to address any nature and man-made disasters as they arise to the organization as a whole. As the world continues to change, corporate governances’ responses to succession planning and communications must evolve, too. In regards to the Walt Disney company (Disney), the company is currently experiencing succession issues, which affects the efficiently of communicating …show more content…
Once the data has been collected, the board of directors and the CEO can include this information into the talent search the next CEO’s qualifications (Abernathy & Chastain, 2011). Another method is the Disney board draw up their succession plan (Olson, Remick, & Tapia, 2015). The board creates a succession of their expectations of what the new CEO, it keeps the board active in the corporate’s culture and have management ready to fill positions at the last minute if necessary (Olson et al., 2015). The final practice tie performance and pay to each other (Hummel, 2016). Disney is about creating new ideas and attractions to entertainment the public in person and film; the successor will be held accountable for developing visions if he or she expects to get paid (Hummel, 2016). Alongside confronting succession barriers and practices to overcome resistance, the role of corporate governance plays in appointing a new leader is a deciding factor if Disney’s financial performance will be a triumph in the …show more content…
Since its erection, the company only had a handful of CEOs but only in the early 2000s, succession planning became accepted (“The King Lear Syndrome,” 2003). It is important to initiate a new successor processor because it is not smart to have one person making all the important decisions when other people have a stake in seeing the organization performing extraordinary than the competition. Thereby, when employees are a part of the succession, the process opens up opportunities for workers to further their career