Q BMGT 365 - Team Deliverable #2 – Succession Planning for – Part One NOTE: All submitted work is to be your team’s original work. You may not use any work from another student, the Internet, or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy and know that it is your responsibility to learn about instructor and general academic expectations concerning proper citation sources as specified in the APA Publication Manual, 7th Ed. (Students are held accountable for in-text citations and an associated reference list only). Team Deliverable #2 is due Tuesday at 11:59 p.m. eastern time of Week 3 unless otherwise changed by the instructor. 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 skills; • Assess the interactions between the external environment and the organization to foster responsible and effective leadership and organizational practices; • Collaborate in teams utilizing effective communication techniques; • Develop individual awareness, style, and communication skills that enhance leadership skills; • Integrate and apply analytical principles and skills to make strategic decisions. This 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 collective responsibility for ensuring the team operates effectively, sets team goals, manages time, makes decisions, solves 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 successfully 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 goals; • Determining roles and responsibilities for each team member; • Actively participating and communicating in the Group area of the classroom; • Completing the agreed-upon work before the deadline; • Resolving problems and issues among the team members; • Agreeing 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 consist 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. No extensions beyond the due date are given to teams. Background: Your Group has been assigned to be part of the Succession Plan Committee at Life Science Nutraceuticals, Inc. (LSN). This Committee has been hard at work for months, planning the successor for Alexandra Marvel and the rest of the executive team (largely occupied by the Marvel). They have assigned your group to complete the Succession Plan for five key leadership positions at LSN. 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 Ms. Marvel, the CEO, has stressed that if the right leader for a position does not exist already within the company, she would rather search for someone external to the company. Instructions: Step 1: Course Material For 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 explains 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 to support what is presented consistently. 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 Life Science Nutraceuticals, Inc. (LSN) Read the five different upcoming positions for which your group has been tasked with filling. As part of the Succession Plan Committee, your team has been tasked with identifying future leaders for the following five positions that will be open over the next 12-24 months: Position 1: Sales Director, Middle East Location: Riyadh, Saudi Arabia Reports to: Executive Director, Asia Division LSN's Asia Division will be opening its first Middle East location in Saudi Arabia in the next 12 months. An Operations 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 Guide Position 2: Director of Research and Development (R&D) Location: Headquarters Miami, Florida Reports to: President & CEO Alexandria Marvel (Headquarters) Research and Development (R&D) is at the heart of its success and, indeed, its future. The R&D leader will lead a group of scientists and innovators. R&D is located at Headquarters because R&D coordinates with all other departments and divisions throughout the various worldwide LSN locations. This is a high-profile position. Position 3: VP Headquarters Operations Location: Headquarters Miami, Florida Reports to: President & CEO Alexandria Marvel (Headquarters) Headquarters houses R&D, HR, IT, Purchasing, and Finance. Each department has its own “subculture,” and each department is fairly distinct from the 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 Division Location: Chicago, Illinois Reports to: President and CEO This leader will head up the largest and most profitable division of LSN. This division is seen as the “flagship” by the other divisions since the company's roots are in the United States. This Executive Director has the “ear” of the CEO and spends a lot of time with the family. This leader is faced with spearheading the future direction of LSN 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 Finance Location: Headquarters, Miami, Florida Reports 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 LSN. 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 LSN. 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 approach. Step 5: Complete Succession Planning Report Complete the Succession Planning Report-Part One. This is the report that President and CEO Alexandria Marvel will review. Your Group’s Succession Planning Report - Part One will be addressed to Alexandria Marvel, President, and CEO. 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 LSN. • A brief review of the leadership competencies important for LSN. Succession Planning as part of Mission, Vision, and Strategy: • A description of how the Succession Plan for LSN should be aligned with its mission and vision. • A description of how the Succession Plan should be aligned with LSN’s strategy • A 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 Alexandria Marvel why your group’s recommendations are important for LSN'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. The instructor will consider no exceptions. Only one student from the group will submit in the Assignment Folder. However, every student is responsible for ensuring 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 to 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: 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 the 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.