Succession Planning for Biotech (Executive Director)
Purpose:The purpose of this project is to gain an understanding of succession planning and what it means to plan for future leadership that is aligned with an organization’s core values and leadership competencies.Skill Building: You are also completing this project to help you develop the skills of research, critical thinking, teamwork, and writing a report intended for executive review. Writing is critical because in business it is important to convey information clearly and concisely and to develop a personal brand. Developing a personal brand is important because it is the ongoing process of establishing an image or impression in the minds of others especially those in positions above you. Having a strong personal brand can lead to opportunities that include promotions. Skills: Writing, Critical Thinking, Developing a Personal Brand, Succession Planning, Writing a Succession Plan Report. Outcomes Met With This Project: use leadership theories, assessment tools, and an understanding of the role of ethics, values, and attitudes to evaluate and enhance personal leadership skillsassess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practicesCollaborate in teams utilizing effective communication techniquesDevelop individual awareness, style, and communication skills that enhances leadership skillsIntegrate and apply analytical principles and skills to make strategic decisionsThis project is the second of three group projects. Members of the team will collaborate acting as a self-managed team. As a self-managed team, members take a collective responsibility for ensuring the team operates effectively, sets team goals, manages time, makes decisions and solve problems, communicates frequently and clearly, and meets the deadline. You may have team members that are located all over the world. Working in a virtual environment should not stop the self-managed team from being successful in reaching the final goal. All work must appear in the Group area.As a self-managed team, the following is the work for which team members are responsible: setting goalsdetermining roles and responsibilities for each team memberactively participating and communicating in the Group area of the classroomcompleting the agreed upon work prior to the deadlineresolving problems and issues among the team membersagreeing on a final product as a group (consensus decision making)submitting the final product into the Assignment Folder (each team will submit into the Assignment Folder)All students on the team will receive the same grade unless a member fails to participate or does not carry his or her weight in completing the project. These students will receive a zero or a reduced grade depending on the level of participation and contribution to the team project. Teams can consist of 2, 3 or 4 students but should not consists of more than four students. Team members are responsible for completing the project even if a team member does not fulfill his or her obligation of submitting the agreed upon work. The project cannot be completed individually and students cannot choose to create teams other than those created by the instructor. If a team member does not hear from any other member, it is important to reach out to the instructor. If the project is submitted after the due date, the Late Assignment policy is applicable. Noextensions beyond the due date is given to teams. Background: Your Group has been assigned to be part of the Succession Plan Committee at Biotech. This Committee has been hard at work for months, planning the successor for Mr. Barney, and the rest of the executive team (largely positions occupied by the Barney family). They have assigned your group to complete the Succession Plan for five key leadership positions at Biotech. These positions will need to be filled over the next 12-24 months. There is not an immediate need for any of them currently, but vacancies will be imminent. The preference is to fill these internally, but Mr. Barney, the CEO, has stressed that if the right leader for a position does not exist already within Biotech, he would rather search for someone externally than to settle.Instructions: Step 1: Course MaterialFor this project, you are required to use the case scenario facts and the course material. External sources are not permitted. You are not researching on the Internet or using resources from outside the course. You are expected to answer the requirements identified below showing the connection between the case scenario facts and the course material. Using course material goes beyond defining terms and are used to explain the 'why and how' of a situation. Avoid merely making statements but close the loop of the discussion by explaining how something happens or why something happens, which focuses on importance and impact. In closing the loop, you will demonstrate the ability to think clearly and rationally showing an understanding of the logical connections between the ideas presented in a case scenario, the course material and the question(s) being asked. Using one or two in-text citations from the course material throughout the entire paper will not earn many points on an assignment. The use of a variety of course material is expected consistently supporting what is presented. The support must be relevant and applicable to the topic being discussed. Points are not earned for mentioning a term or concept but by clearly and thoroughly explaining or discussing the question at hand.Step 2: Preparation Review the Leadership Competencies Table completed in Week Two to accompany the Job Announcement (You may also wish to review any feedback received by your Instructor about your Table.) Step 3: Upcoming Open Positions at BiotechRead the five different upcoming positions for which your group has been tasked at filling. As part of the Succession Plan Committee, your team has been tasked with identifying future leaders for the following four positions that will be open over the next 12-24 months:Position 1: Sales Director, Middle EastLocation: Saudi ArabiaAnswers to: Executive Director, Asia Division Biotech’s Asia Division will be opening its first Middle East location in Saudi Arabia in the next 12 months. A Sales Director will be needed to head up this new division. A team of local salespeople will need to be recruited, hired, and trained by this leader. It is expected that this sales team may be largely men.Two sources that are recommended for more information about doing business in Saudi Arabia are: Guide to Saudi Arabia Etiquette, Customs, Culture, and Business Saudi Arabia Management GuidePosition 2: Director of Research and Development (R&D)Location: Headquarters, Yonkers, NYAnswers to: VP of Headquarter Operations R&D is at the heart of Biotech’s success and, indeed, its future. The leader of Research and Development will lead a group of scientists and innovators, but does not need to be a scientist himself/herself. R&D is located centrally at Biotech Headquarters because R&D coordinates with all other departments and divisions. This is a high profile position.Position 3: VP of Headquarter OperationsLocation: Headquarters, Yonkers, NYAnswers to: President and CEOThe Headquarters houses R&D, HR, IT, Purchasing, and Finance. Each of these departments has its own “subculture”, and each department is fairly distinct from each other. The young, youthful subculture of IT often clashes with the conservative subculture of the Finance department, for example. Many of the members of the Finance and HR teams are baby boomers and are near retirement. This leader oversees the smooth operation of all of these departments and ensures the coordination of these departments with each other and with each of the four geographic divisions across the world.Position 4: Executive Director, North American DivisionLocation: Chicago, IllinoisAnswers to: President and CEO This leader will head up the largest and most profitable division of Biotech. This division is seen as the “flagship” by the other divisions, since Biotech’s roots are in the United States. This Executive Director has the “ear” of the CEO, and spends a lot of time with the Barney family. This leader is faced with spearheading the future direction of Biotech in North America and is challenged with filling openings throughout the United States and Canada caused by fast growth and a retiring Baby Boomer population. Position 5: Director of FinanceLocation: Headquarters, Yonkers, NYAnswers to: Chief Financial Officer This leader oversees the day-to-day operations of the finance department. This leader is expected to aid in strategic planning with the executive team of Biotech. Although a finance background is not required, this person is expected to bring a conservative approach to the strategic planning table, to balance out the high risk tolerance of the rest of the leadership at Biotech. A “big picture” perspective is definitely needed here. Step 4: Complete Succession Planning Table Complete the Succession Planning Table-Part One to help guide your decision making. Step 5: Complete Succession Planning Report Complete the Succession Planning Report-Part One. This is the report that will be reviewed by President and CEO, Maximillian Barney.Your Group’s Succession Planning Report - Part One will be addressed to Mr. Maximillian Barney, the CEO and President of Biotech. The report should address all of the following elements, with each section supported by course materials. Follow the following report format: Introduction:An overview of succession planning and why it is important to the future of Biotech.A brief review of the leadership competencies important for Biotech.Succession Planning as part of Mission, Vision and Strategy:A description of how the Succession Plan for Biotech should be aligned with its mission and vision.A description of how the Succession Plan should be aligned with Biotech’s strategyA description of how strategic thinking should be used as part of the succession planning process.Recommendations:For each of the five positions identify the leadership competencies most important for those positions. Support your recommendations with course materials.Summary:Describe briefly to Mr. Barney why your group’s recommendations are important for Biotech’s future.Reference Page: (in APA format) Step 6: Submit the completed Report in the Assignment Folder. Submitting the project to the Assignment Folder is considered the student's final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the assignment is the correct submission. No exceptions will be considered by the instructor. Only one student from the group will submit in the Assignment Folder. However, every student is responsible to ensure the project is submitted timely.Other Required Elements:Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade. Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing). If uncertain how to write in the third person, view this link:http://www.quickanddirtytips.com/education/grammar/first-second-and-third- person. Contractions are not used in business reports, so do not use them. Paraphrase and do not use direct quotation marks. This means you do not use more than four consecutive words from a source document, but put a passage from a source document into your own words and attribute the passage to the source document, using in-text citations in APA format. In-text citations should be included in ALL SECTIONS of the report, and should demonstrate application of the course material. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa. Provide the page or paragraph number, where applicable.You may only use the course material from the classroom. You may not use books or any resource from the Internet.Self-Plagiarism: Self-plagiarism is the act of reusing significant, identical or nearly identical portions of one's own work. You cannot re-use any portion of a paper or other graded work that was submitted to another class even if you are retaking this course. You also will not reuse any portion of previously submitted work in this class. A zero will be assigned to the assignment if self-plagiarized. Faculty do not have the discretion to accept self-plagiarized work.
