Ivester and Barad Failed

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<p>Ivester and Barad failed, in part, because although each was accomplished in at least one area of management, neither had mastered more general competencies such as public relations, designing and managing acquisitions, building consensus, and supporting multiple constituencies. Theyre not alone. The problem is not just that the shoes of the departed are too big; its that succession planning, as traditionally conceived and executed, is too narrow and hidebound to uncover and correct skill gaps that can derail even the most promising young executives.However, in our research into the factors that contribute to a leaders success or failure, weve found that certain companies do succeed in developing deep and enduring bench strength by approaching succession planning as more than the mechanical process of updating a list. Indeed, theyve combined two practicessuccession planning and leadership developmentto create a long-term process for managing the talent roster across their organizations. In most companies, the two practices reside in separate functional silos, but they are natural allies because they share a vital and fundamental goal: getting the right skills in the right place.</p>