NEXT - Succession - The Art of Handing over to the Next Generation Artwork

If Jesus Taught At Harvard Business School Podcast

Although we may believe we possess unlimited freedom to decide our lives, infact our scope is restricted, and we have much less space to choose than wethink. This makes it all the more vital that we sharpen and focus ourdecision-making skills so as to make maximum use of every available choiceopportunity in our business and personal lives. We also need insight into the decision-making styles of ourselves and others, so that we can shape our performance and adjust our thinking to suit changing circumstances.This podcast series aims at exploring these subject matters from the perspectives of Jesus employed to teach at Harvard Business School.

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If Jesus Taught At Harvard Business School Podcast

NEXT - Succession - The Art of Handing over to the Next Generation

April 07, 2021 • Ade Ojomo • Season 2 • Episode 4

Have you found the time to reflect on the following:

Q1:

The legacy you will leave behind when it is time to depart from this realm called Earth.

Q2:

Upon your departure, who is scheduled to take over the leadership role of the organisation or the family?

Q3:

Do you have a succession plan for the leadership development of the potential successors to facilitate the going concern of the organisation or the family?

When we talk about the going concern – we are referring to the fact that the entity has neither the intention to liquidate or curtail materially the scale of its operations.

As a result, It is therefore important that organizations have a succession management plan in place to choose the leader that will take the organization or family into the next generation.

Myles Munro in a statement he made before he died – he stressed the importance of investment in people over infrastructure – a position echoed by the statement in Proctor and Gamble’s philosophy

'If you leave us our money, our buildings and our brands, but take away our people, the Company will fail. But if you take away our money, our buildings and our brands, but leave us our people, we can rebuild the whole thing in a decade.'

--Richard Deupree, P&G CEO, 1947

A few points before we define what succession entails – no one is ever ready for leadership – it is about preparation – Moses and Jonah both resisted even though God selected them for the tasks – it took preparation – Moses in the wilderness and Jonah in the belly of the Whale to get them ready for the task ahead so we can see that being prepared is essential for companies when it comes to preparing leadership to take over for the next phase of an entity.

This topic is of relevance nowadays when we consider the lack of role models to prepare the younger generations which will eventually lead to a lack of leaders to steer the future.

In this episode we shall be exploring the framework required for an effective succession leadership plan