The Importance of the Renwick Management Structure and Succession Plans
The management structure of any company will undoubtedly determine its strength and fortitude in the business environment. Therefore, it is not surprising that a company with the repute such as Renwick & Company, would need the full and unequivocal support of all its senior personnel in its bid for continued and sustained growth. In this area consultant Robert Wynter points out that the most important and probably most sensitive thing about succession planning, is whether the company’s existing seniors opt to remain and embrace the change process, or whether they too choose a change of their own. “The fact is that we need a talented management team. So a very important point of this is the succession plan,” Wynter explained. He went on to underline that while it was prudent for possible changes in management to be done internally, it is much better to deliberately prepare the existing team to “take over” the operation – developing a sense of ownership among the management that is often lacking in some organizations. “There is no guarantee that your existing team would remain forever. Therefore, recruiting as well as maintaining a strong management and support system must be one that ensures continued growth. It is not just about the people there right now, because you can’t always assume they would be there forever,” Wynter said. Renwick & Co is seen as a responsive organization – one that is not immune to internal and external shifts. That means plans for succession must always always be in place. ¤
BusinessFocus Apr / May
|
58