Nonprofit Reflection Questions 2,3+4 Coursework

Nonprofit Reflection Questions 2,3+4 - Coursework Example e even though succession planning isn’t highlighted as something extremely important, but it does impact an organization a great deal since it affects financial returns. And stakeholders need an assurance that wherever they invest, they will be secure, not only in the short run but also in the long run. For example, Apple with the demise of Steve Jobs has no successor, and therefore its stocks have come down to 5% simply because of the fact that Steve Jobs was great when he was here, however investors feel insecure about the company due to the fact that there is not successor to Steve Jobs. Apple could have saved itself the trouble of plummeting stocks if it had invested in succession planning. And this succession planning could similarly be for any other employee and not just a leader. For succession planning, an organization should realize that it is something that requires devotion and commitment from all levels in the organization, regardless of the hierarchy or flatness of its structure. It is also essential to be abreast with the talent in one’s organization and keep a record so that they can be honed into whenever the need may be. At the same time, it isn’t an activity that is just performed outright; all the potential employees as well as the shareholders need to be kept informed about the plan so that they can aspire to be in particular post. And it isn’t a once in a year activity that the organization performs but rather an ongoing activity that must be done and polished and repeated so that the perfect person can fill in the perfect shoes. A great deal of anxiety and stress can be avoided before-hand if this process is conducted before the need falls. This is because leaders can retire or expire unexpectedly, and the market is full of fluctuations and any change can occur without anticipation and the company can be left in dismay. This is where succession planning helps the organization. And it is the duty of the board to act for the company