SUCCESSION PLANNING

Getting the right number of people with the right skills, experiences, and competencies in the right jobs at the right time. systematic process  managers identify assess develop their staff to make sure they are ready to assume key roles within the company. Future needs Job sharing and cross training for every position Driven by line function and not HR executives.

SUCCESSION PLANNING
A good succession plan maps out which employees are ready for new leadership roles as they become available, and when one employee leaves or is promoted to the next level, another employee is already trained and ready to step in where they are needed.

The Indian Scenario

Acute problems Family related business proliferate Next generation rather than grooming right person Education and skills Professional manager Indian business houses like Ranbaxy, the Murugappa group and the Eicher group have demonstrated a high degree of professionalism

Founded by Bhai Mohan Singh in 1952, incorporated in 1961 Dr. Parvinder Singh joined in 1967, becomes MD in 1982, took complete control in 1993 Brar was appointed as MD & CEO in July 1999

Brar announced his decision in December 2003 to resign Dr Brian Tempest was appointed as MD and CEO in July 2004

Intro Explanation:This is a case study of succession planning of ranbaxy pharmaceuticals. It was founded by bhai mohan singh in 1952. and was formed into a corporation n made as a legal entity in 1961. Dr. parvinder singh is the son of bhai mohan singh n he joined the company in 1967. after he joined ,the company s scale rose higher and in the year 1982 he became the MD of the company and by 1993 he took complete control over the co. Later Mr. Brar ws appointed as MD n CEO in 1999 And he had also decided about his resignation plans for the year 2003 and had also announced that. After the resignation of Brar. Mr. Brian tempest was appointed as MD n CEO in July 2004.