MHA 702 Exam 4 Questions With 100% Correct Answers | Verified | Latest Update

MHA 702 Exam 4 Questions With 100% Correct Answers | Verified | Latest Update Succession planning - Answer- -useful for managerial positions (CEO, COO etc) -prepares single designated successor -proactive approach to ensuring continuity of leadership Career planning - Answer- -succession plans for middle managers -focuses on many particular individuals -prepares several candidates for a position intent of succession planning - Answer- HR process used to prepare the organization for a strong leadership transition How long do senior organizations leaders stay? - Answer- Expected to retire over 5 to 10 years Organizations without succession plans - Answer- Uneasiness is intensified and negatively affect performance Leaving development of future leaders to chance why do healthcare organization benefit more from effective succession plans? - Answer- they are usually complex and known to foster highly political environments CEO is responsible for - Answer- Initiating succession planning Organizations with succession plans - Answer- More likely to have smoother leadership transition Board of directors is responsible for - Answer- Appointing a successor three factors that motivate succesion planning - Answer- 1. presence of CEO having had previous succession experience 2. having a person within the organization initiate and coordinate effort 3. recognition of benefits of succession plannning to organization Succession planning should begin - Answer- 4 years prior to CEO leaving; most organizations should begin process within 1 year of hiring a new CEO HR responsibility - Answer- Managing succession planning process Succession planning saves organizations - Answer- -Money -Executive search fees eliminated -Maintains leadership continuity when inside person is promoted Grooming an internal person - Answer- -key element of for-profit succession planning Financial gain of Hiring outside of an organization - Answer- -requires 6-12 months before financial performance regains the level that existed prior to replacement 5 principles to succession planning - Answer- 1. board-driven, collaborative process 2. should be a continuing process; successor should be available at any given time to step in 3. key leadership criteria must be defined; build feedback loop 4. bring leader in and right time; clear exit strategy should be developed 5. once transition has taken place, post succession assessment should be conducted A continuous process - Answer- -succession planning must be continuous -successor should always be available -significant development assignments can be arranged to ensure appropriate experiences are encountered Feedback loops - Answer- Are critical in succession planning; ensures the successor is receiving the experiences necessary for professional development succession planning must include - Answer- a process to promote diversity and multiculturalism common mistakes of succession planning - Answer- - thinking that succession planning is a single event rather than a process - failure of organization to anticipate concerns of key employers who may have been passed up Why should Succession planning begin early? - Answer- -for developmental assessments -provide insight and allow skills to be acquired -developmental tasks should be diverse to expose to departments/operations -institutional memory preserved -the CEO personally experienced being groomed will support process Potential pitfalls - Answer- -connections to social network and psychological ties to organization that complicate effort to change -inappropriate or limited experience What can damage CEO/ Management teams? - Answer- -only bringing in an entire new regime can sweep organization clean -organization will be taking a fall anyway -comes out of scandal, mismanagement, failed takeover what is it called when organizations inventory their potential employees? - Answer- Often called assessing their inside bench strength If no suitable candidates, how should organizations hire and WHEN? - Answer- -based on skills and ability -consider hiring outside person at least 18 months and up to 5 years in advance How can Succession planning become costly? - Answer- -Due to expense of maintaining 2 individuals with high salaries over time CEO must be mature - Answer- -May feel threatened by trained successor standing in wings, poised to takeover at a misstep at the whim of board of directors Why organizations have not created succession plans - Answer- -overidden by immediate and pressing issues -governing boards often lack experience with planning -belief that implementing plan, hastens exit of current CEO -worry that it implies loss of confidence of current CEO -believe that regardless of inside talent, outside person should be recruited -Fail to see how it benefits organization what constitutes an appopriate succession plan? - Answer- -clearly defines a successor's qualifications -establishes a time frame for the transition -tailored to organization's needs issue with multiple individuals being prepared to ascend - Answer- too many people with sights on next step upward can foster unhealthy competition can succession planning apply to all positions? - Answer- yes, every position in which someone supervises the work of others should be backed up in such a manner that there will be a person to turn to in the event of vacancy first line supervisors - Answer- manager who oversee the performance of the individuals who do the hands on work fundamental level of succession planning - Answer- preparing potential successors reasons to identify potential successors - Answer- -the need for coverage should supervisor suddenly no longer be there -consideration of the supervisor's future (i.e. possible promotion of current supervisor) what can a back up person do? - Answer- handle time reporting, attend committee meetings, generally keep function of department What is employee development? - Answer- expanding employee knowledge of how the department functions and in general preparing employees to grow and move up if desired example of developing a potential successor - Answer- trying out an employee with delegated tasks of increasing responsibility and using that employee to fill in for the supervisor when needed Organizations without plans - Answer- Complain of being swamped by more immediate and pressing issues downsides to succession planning - Answer- -supervisor's most promising subordinates may leave for greater opportunities elsewhere -competition between two potential successors CEO and governing Boards - Answer- Must understand succession plans are essential strategic goal important for continuous success of organization Cons to Outside hiring of CEO - Answer- -risky and expensive -excessive reliance on recruiting outside can stifle promising inside candidates Barriers to succession planning - Answer- Composed of self imposed fears and concerns; HR can mitigate fears by providing more knowledge about the practice of succession planning why is training essential? - Answer- leaders use it to ensure that their organzations will have the best possible chance to survive and grow in the future What happens often with training and development? - Answer- often dropped when budgets get tight and expenses must be reduced Leadership is - Answer- Critical for long term effectiveness of contemporary organizations training does not generate - Answer- revenue money spent on education is often viewed as resources that are expended with few - Answer- tangible results