I read a journal about potential successor of CEO position. When you leave the management position, there are many problem the candidate may face in the relationships with board members. Even though, the candidates are great in his or her career and can do well in the CEO position, it is useless if he can't get trust from board members. Accordingly, it is important that the former CEO must mediate between the potential successor and board members. The writer said that the relationship problems are very critical to the success of potential candidates. It may look so tiny that you can ignore the factors of relationships.
And also other stakeholders are very important. The most important factor is relationships with peers. If you are the CEO and you may think 'It's is all about my decision' , and can ignore the opinions from your subordinates. But the positive relationships between potential successors and peers are very important to the success of the company. If the successor have positive relationship with board members, he may think that ' that's all about relationship'. But the former CEO have to teach the successor that the positive relationship with peer groups are also very critical to his success.
And finally, relationship with customers are very important. The common mistakes that new CEO can commit are neglect the customers. He is very talented and effective person and he can focus only his tasks and ignore the problems that customers may have. I think this problem can be solved by some market researchs and the imformation from the former CEO.
The key stakeholders have great influences to the success of new CEO and the former CEO has to try to solve the relation problems that the potential successor can collide. I am not a CEO yet, but I think it is very important to know the methods successfully transfer my position to another person. In Korea, many of big companies are ruled by the family of founder. This is called a clan management. Many developed companies are now employing CEO from outer sides of their companies. But in korea, there are short of management specialists. Samsung, for example, there are very few managers from outer of the Samsung family. The chairman Lee Geon Hee, now excuting some succession process to his son Lee Jae Yong. But I think this is not good for the future of Samsung, and there must be a specialist of management. The remodeling task is very important because many of corruptions are came from these clan management. Now, Korea face a economy limit and there must be an innovative ways, and I strongly recommend the employment of specialists.
20700067 entry # 7
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