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Succession and Succession Planning Best Practice 3 – Continuing Education
It is simply not enough that individuals holding senior positions be highly experienced. The narrowness of early career positions and the limitations of time necessarily prevents an individual from being deeply experienced across the full range of functions within the organization. Thus, those relying purely on experience often lack an understanding of the broader spectrum of organization functions and opportunities that would help them be more successful in senior positions requiring multidimensional business understanding.
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Decisions, both large and small, define an organization, its culture, its direction, its public image, and ultimately its success or failure. Each decision and the process of making and executing on it provide all those involved with a new experience from which to draw upon when making future selections. Organizations, however, are living things; people come and go, memories fade, and circumstances change. Therefore, in order to fully benefit from the hard won and often expensive experience gained through decision-making, a mechanism must be in place to gather, assess, and then make available these lessons learned.
How frequently do organizations duplicate effort because the same initiative is unknowingly performed by more than one group? Probably far more often that one might think and certainly more frequently than one would want to admit.
Most organizations increase expenditure authority with each successively higher organizational level. Such budgetary constraints necessitate higher levels of approval for increasingly resource intensive projects; adding to the work required of lower level managers who need to ‘sell’ senior executives on their larger initiatives. Subsequently, circumvention of these often difficult to get authorizations may be sought.
Decision-making involves a degree of risk that increases with the complexity of the decision to be made. Good decisions not only yield desired results but also minimize the risk exposure of the individual or organization making and executing the decision. While there are many ways to minimize decision risk, one that is often overlooked is the ongoing evaluation of the execution of the decision-making process itself.
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