Could succession management have mitigated

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Reference no: EM132750933

Question 1. Lee Ki Chung managed all the operating systems for 8 Star Manufacturing Company. Always reliable and never absent, Lee was indispensable. One day, Lee phoned to say that he had been diagnosed with cancer, had to enter treatment immediately, and did not know when he would return to the office.

Question 2. The president of Overseas Banking Corporation, the second-largest bank in the country, had chosen as his successor the vice-president of finance. However, as the president's retirement date approached, he began to worry that this star employee could no longer handle the stress and long hours of banking. The VP was absent for extended periods as he tried to deal with his son, who was a drug addict, which in turn caused problems in his marriage.

Question 3. Hi Tech Corp is a company created by the next generation of Bill Gates clones. They had succeeded in attracting the best and brightest to help them build a billion-dollar company to develop the ultimate software applications. On Tuesday, October 10, the entire design team announced they were quitting to start a rival company and recapture that entrepreneurial culture of the early years.

Could succession management have mitigated the impact on the organization of any of these situations? How could succession management mitigate the seriousness of the consequences?

Reference no: EM132750933

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