The Effective Decision Essay - 2528 Words

The Effective Decision The Effective Decision - The Function of the Chief Executive At 60, John Neyland, the company president, decided he would retire before the mandatory retirement age of 65. He did not reveal his decision to anyone until he reached 62, and at this time he confided to his best friend and the most powerful board member that he would retire imminently. Mr. Neyland proposed that Bill Strong, Vice President, Administration, a very able and experienced executive, succeed him as president. Mr. Neylands friend vehemently opposed Bill Strongs candidacy, and forcefully argued that Margaret Wetherall, vice president of manufacturing, was the best qualified to be the new president. This case presents a situation†¦show more content†¦A successful succession process requires that the board members first define the question:  · Always view the problem from different perspectives.  · Each board member should have an independent point of view.  · Board members should be open-minded. Every board member should seek information and opinions from a variety of people to widen his frame of reference. Board members need to be active players in shaping the company, and one of their key responsibilities is to oversee the entire succession process. There has to be an effective management development program for the entire organization. Such a program should have the following characteristics:  · Stability - there should not be constant changes.  · Should be viewed as a fundamental element of the administration of the business.  · The program needs to be well understood by everyone throughout the organization.  · Comprehensive: it should form the basic personnel program for the whole company. It should not be designed to cover just the very top layer of management.  · It should track managers assignments, identify their development needs, and establish the career paths that will prepare them for higher responsibility. The board should be able to draw on information from the management development program to evaluate each manager in relation to the qualities that everyoneShow MoreRelatedDecision Making An Effective Decision1094 Words   |  5 PagesDecision-making is an important process. It can be a task, which needs a simple decision to be made or a difficult situation involving several issues. 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