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Blog

Prioritize Planning

November 27, 2007, 1


Too Many Companies Lack Succession Plans - Wasting Time, Talent (by Carol Hymowitz in the November 26, 2007 Wall Street Journal) covers the complexities of management evolution in the corporate world - - - yet the challenges are strikingly similar to those faced by agribusiness owners.

Hymowitz talks about prioritizing the identification of talent, allowing time to groom successors. Hymowitz states, "In today's changing business landscape, companies need leaders with strengths and talents that are different from those of their previous CEO [owner] - no matter how successful he or she was."

As per Stephen Miles of Heidrick & Struggles, "Succession planning is often done looking at the rear-view mirror, when it should be done looking out the front windshield."

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