15 Feb Part Six of the report focusing on Managing Human Talent. In part six of the report, the team wants Mary to consider her sister’s role in the business. Her sister, Dawn has been
Part Six of the report focusing on Managing Human Talent.
In part six of the report, the team wants Mary to consider her sister’s role in the business. Her sister,
Dawn has been working with Mary since she opened the business as has her other part-time employee Frank. The firm knows the problem that family businesses can have if they do not plan for succession especially if growth is successful. Presently Dawn is in charge of the Online sales and inventory. She is attending school to improve her computer skills and to learn to design a website that would be good for the store.
Frank is also going to school full-time and is majoring in business. Frank says he loves the business and would like to help manage. Dawn likes E-commerce. They are both loyal to the business and are anxious to see it grow back to its earlier status.
Directions:
“Managing Human Talent”.
Explain to Mary the problems that family businesses have in staying sustainable.
Detail the first steps Mary should take in planning for succession.
Address how to include both Frank and Dawn in the plan.
Give Mary three examples of successful plans that she may consider as a template for creating her plan. (This requires research on family companies who have handled succession well.)
Explain how the growth of the company will affect the ideas.
Make a recommendation as to what plan you think would work for Mary.
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