One of the most well-known examples of succession planning and talent management is the process used by General Electric (GE) to identify a successor for Jack Welch, GE’s most successful chief executive officer (CEO). During Welch’s 20 years as CEO, he was responsible for implementing many innovative processes at GE. He also eliminated waste through Six Sigma strategies and motivated all levels of employees to contribute to the company’s growth. Clearly, Welch would be a difficult leader to replace.
To ease the CEO transition process, GE began planning for Welch’s retirement in 1994, although he had not planned to retire until 2001. Unlike many CEOs, Welch wanted to be actively involved in the succession process and was a major advocate in implementing strategies that would aid in successfully planning for the company’s future. To begin the succession process, the company assembled a talented group of GE leaders. Accompanying Welch were GE’s vice presidents, human resources executives, and executive development representatives. After analysis of key talent, they identified three internal candidates suitable for the job: Jeff Immelt, president and CEO of GE Medical Systems; Robert L. Nardelli, president and CEO of GE Power Systems; and W. James McNerney, CEO of GE Aircraft Engines. Immelt, Nardelli, and McNerney were thought to have the essential skills and competencies that made up the ideal CEO for GE.
In 2000, after 6 years of careful deliberation, development, and grooming of the candidates, GE selected Immelt as Welch’s successor. Welch commented on the succession, saying that he was pleased with GE’s decision on Immelt, but that any of the three candidates would have made excellent CEOs. This sentiment was proven correct when Nardelli became CEO of Home Depot, and McNerney became CEO of 3M.
In this Discussion, further consider GE’s succession planning process, as well as broader concepts in talent management and succession planning. Compare the succession planning processes of GE, IBM, Apple, and HP. To begin this week’s Discussion, first review the difference between talent management and succession planning as outlined on page 13 of the course text Effective Succession Planning. Then review the article titled “IBM, Apple, HP: Stark Contrasts in CEO Succession,” found in this week’s Learning Resources, to examine the succession planning approaches taken by three major companies: IBM, Apple, and Hewlett-Packard. Finally, conduct additional research using the Walden Library and credible online sources, such as electronic journals, magazines, newspapers, and press releases, to explore additional information about the Jack Welch succession at GE as well as the other three companies listed above in addressing the Discussion Questions.
Write a cohesive and scholarly response based on your readings and research this week that addresses the following:
All work must be original and in APA format. I have included the electronic version of the text Effective Succession Planning and additional resources for your reference. Please answer all questions.
We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.
At homeworkcheg.com, You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.Read more
The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.Read more
The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.Read more
By placing an order with at HomeworkCheg, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.Read more