Photo AI
Assess the likely value of succession planning to Derby Theatre. - Edexcel - A-Level Business - Question 2 - 2022 - Paper 3
Question 2
Assess the likely value of succession planning to Derby Theatre.
Worked Solution & Example Answer:Assess the likely value of succession planning to Derby Theatre. - Edexcel - A-Level Business - Question 2 - 2022 - Paper 3
Step 1
Succession planning definition and context
Answer
Succession planning is a vital human resources process aimed at identifying and developing new leaders who can step into key roles when existing leaders leave due to retirement, resignation, or other reasons. For Derby Theatre, which relies heavily on a cohesive team and strong working relationships among its staff, effective succession planning can ensure continuity in leadership and maintain the cultural integrity of the organization.
Step 2
Benefits of succession planning
Answer
The primary benefit of succession planning in Derby Theatre is the retention of institutional knowledge and the encouragement of a positive work culture. Having prepared staff members who are familiar with the organization's operations can lead to reduced transition times and maintain performance levels during leadership changes. Additionally, it fosters a sense of belonging among employees, making them feel invested in the organization's future.
Step 3
Challenges and counterbalances
Answer
However, there are challenges associated with succession planning at Derby Theatre. Certain roles may require very specific skills, limiting the pool of internal candidates who can step up. It may also be hard to develop suitable candidates for specialized roles like Creative Learning Director. External hiring, although it can bring fresh perspectives, may disrupt existing dynamics and fail to resonate with the theatre's established culture.
Step 4
Conclusion and evaluation
Answer
In conclusion, while there are significant advantages to having a succession plan in place—such as maintaining quality and fostering loyalty—there are also potential pitfalls regarding the suitability of candidates and the impact on team cohesion. The right balance between internal development and external hiring will be crucial for Derby Theatre to realize the full benefits of succession planning.