Biotech Succession Planning Report

However, succession planning has become unsuccessful for some companies because of lack of collaboration between the young and old employees. This undermines the chances for young workers to attain quality leadership development (Gale, 2013). Succession planning is an opportunity to develop the skills of the entire workforce; therefore, Biotech needs to have a strategic plan to create a coordinated and positive flow of leadership to have an effective succession. The future of Biotech depends on leaders that embody ethical decision-making, global leadership qualities and adaptability to technological and industry changes, to provide Biotech with an edge and competitiveness in the marketplace. Effective leadership is necessary and important in achieving Biotech Vision and Mission. Biotech’s mission is to safely and efficiently market and distribute health and life products while offering innovative value-added services.

Aligning the succession plan with Biotech’s vision and mission helps create buy-in for the succession plan itself. A succession plan will enable Biotech leaders to focus on the company’s long-term success, thus ensuring that key leaders, knowledge, skills and talent are in place to grow and keep the company on track. A company strategy includes short-term and long-term goals that explain how to achieve the set goals and objectives. Strategies are focused on present actions and results that need to be achieved to move closer to attaining the mission. The Saudi Arabians value their culture and are sensitive while working with foreigners. Therefore, a culturally informed Sales Director will not only promote good relations, but will ensure that Biotech products are marketed and safely distributed in Saudi Arabia's market.

ii. The Director of Research and Development should manage employee talent through skill development in order to maximize innovation opportunities. The long-term survival of Biotech is dependent on appropriate talent management through strategic succession planning programs. Collaboration between the Director of Finance and the other management leaders ensures that day-to-day operations generate value that will collectively give Biotech long-term financial value. Conclusion Surveying a workforce helps to better understand the knowledge, skills and abilities an organization possess. Thus, succession planning should not be aimed at discriminating employees that lack certain skills, rather it should be an opportunity to offer the entire workforce quality training and development of skills. Biotech needs an effective succession plan that is aligned with its vision, mission and strategies.