Every organization is sustained by human resources. For instance, when a Chief Executive Officer (CEO) retires, he/she has to be replaced for continuity. In this regard, considerations are usually made to prepare potential candidates for that role. Moreover, since market trends have become increasingly unpredictable, it is important that close monitoring is done to ensure that correct and timely decisions are made.
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In this regard, potential candidates are required to have the capability of predicting these trends to offer guidance. Companies such as Bay View Corporation require managers with a wealth of experience in their field. This can only be done by raising potential managers through the ranks of that company. When this is achieved, a proper understanding of the company and its line of operation can be realized.
Moreover, it increases the ability of such individuals to respond to demanding situations. This paper will evaluate three possible candidates for the post of a CEO at Bay View Corporation. It will also endeavor to explain why such skills are necessary as well as how they can be employed in decision making (Robbins and Coulter 35).
Duties of CEO at Bay View Corporation
Effective and timely decision making is very important for company managers. This attribute sets them apart from other members of staff. It is such decisions that usually work to improve the company’s performance. As had been stated earlier, Bay View Corporation deals in the manufacturing of frame stats, which are supplied throughout the world. As a sole supplier, with several distribution centers, the CEO faces increased responsibility in decision making. He/she has the responsibility of coordinating all production and distribution centers to enable efficiency and efficacy. This is important as it enables the continued supply of products to the market.
Evaluation of company performance is therefore crucial as it provides the headway for further growth and improvements. In this respect, the manager must ensure that company as well as organizational performance is evaluated for continuity. This can be achieved through a measure of company productivity, the effectiveness of the organization, effectiveness of coordination and control, among others.
The ability of the manager to control information through the management of information systems (MIS) is also necessary for coordination and control of organizational activities. CEOs are also expected to benchmark best practices as this helps the company to establish its standards. Since they represent the company in every aspect, they should possess the right skills to demonstrate good corporate governance. This will ensure that the interests of stakeholders are incorporated into organizational activities (Robbins and Coulter 35).
Having worked in this corporation for about a decade, it is now time to allow fresh ideas and young stars of Bay View Corporation to manage the company. In this regard, there are three potential candidates, who have assisted me in management for this while. I have nurtured their skills and by company regulations, one of them will soon become the new CEO. However, I am presented with the difficult task of choosing the best of them.
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In terms of skills and experience, it is quite important to note that they have been in the company for over 25 years. Their performance records are beyond reproach. They have a wealth of experience and skills necessary for the continued growth of the company. Therefore, as the executive body, I have to ensure that they are nurtured to the best of their ability, to pick one for this job once I retire. In essence, the right candidate will have to demonstrate skills and abilities beyond experience and basic skills (Robbins and Coulter 35).
The right candidate will have to possess, among others effective and timely decision-making capabilities, the ability to benchmark best practices, control and coordinate production and distribution centers, ability to evaluate company performance, control information, and ability to demonstrate proactive personality. Others include the candidate’s ability to lead and motivate workers, manage growth and downturns, among others. In this regard, the most outstanding in skills named above would be appointed as the next CEO of Bay View Corporation. This is mainly because the company will have the opportunity to embrace fast track growth and efficacy by employing a proactive personality (Robbins and Coulter 35).
Why they are required
To register continued and controlled growth at Bay View Corporation, it is necessary that the right personality takes charge of its operations. In this regard, candidates must possess the ability to make correct decisions at the right time. This is very important as it helps the company to make headway in its objectives. Moreover, effective and timely decision making improves the company’s competitive edge over its direct and indirect competitors as well as establishes a good image to customers.
A proactive manager is important to the company since he/she acts on decisions made. This is very important since every decision is backed by actions. The establishment of standards against which the company stands is also necessary for continued growth. The potential candidate should therefore possess the ability to benchmark best practices. This will improve the company’s productivity and efficacy and hence competitiveness.
The capacity to coordinate and control organizational activities is also very crucial to managers. Potential candidates should therefore demonstrate the ability to coordinate and control tasks effectively. This emphasizes their leadership skills as well as the ability to motivate workers for quality and efficient production. Also, the candidate must demonstrate the ability to multitask as this allows for the coordination of all departments in an efficient manner (Gibbons 1).
Evaluation of company performance is very important as it enables one to measure progress. Potential candidates should therefore demonstrate the ability to chart out company progress as well as work towards its improvement. Another important factor is information control; candidates that employ the use of MIS will greatly increase their chances of controlling information. This will in turn ensure the continued flow of information and execution of tasks as required. Therefore, it is only the most outstanding of these candidates that can be appointed next CEO of Bay View Corporation (Gibbons 1).
Business trends are continually changing. This poses greater responsibility for managers, especially those managing multinational corporations. Bay View Corporation is a multinational company that deals in the manufacturing of frame stats. The current manager is about to retire after 9 years of management. He, therefore, has the responsibility of choosing the best candidate among three potential CEOs. These candidates have been in the company for decades and fully understand company operations. Moreover, they possess the skills required for this new task. However, the current CEO must only choose one.
In this regard, skills evaluated must go beyond experience and basic skills. Candidates are therefore required to demonstrate, among others the ability to make effective and timely decisions, control and coordinate operations, provide leadership skills, motivate workers, evaluate company performance, multi-task, and control information as well as be proactive. Therefore, only the candidate that demonstrates these skills in the outstanding measure will be selected (Curtis 1).
Curtis, Glenn. “Becoming A CEO”. investopedia.com. Investopedia, 2008. Web.
Gibbons, Fred. “CEO Skills Inventory”. stanford.edu. Stanford. 2007. Web.
Robbins, Stephen, and Coulter Mary. Management. 11th ed. New Jersey: Pearson Prentice Hall, 2010. Print.