Edens and Avant Case Study

Edens and Avant Case Study

As the founder of Edens & Avant, several issues will be my primary concerns and goals regarding succession. First, my major goal would be to ensure that the business thrives even after my exit. Thus, I will look for a replacement to take the business in the right direction through relevant vision, skills, and experience. Second, I will be concerned with maintaining the culture and values of the company. Essentially, the culture and values underpin the success of any business (Hess, 2011). Third, I will be concerned with selecting the best candidate by carefully comparing and evaluating the three potential candidates, considering their experience, vision, and skills. Fourth, I will be concerned with achieving a smooth transition. Succession planning takes time and should be as smooth as possible (Chang et al., 2021). Notably, this will entail creating an all-inclusive plan that includes training and mentoring the successor and informing clients, partners, and employees about the succession. Finally, I will be concerned with minimizing all potential risks associated with the succession process. Do you need urgent assignment help ? Get in touch with us at eminencepapers.com.

I will consider various stakeholders’ interests in the succession process. First, family members’ interests will be considered. Essentially, this is so because family members have an emotional and personal investment in the business (Gagné et al., 2021). Family members should be treated in succession by considering their aspirations and wishes. Second, the interests of employees will be considered. Employees are interested in job security, growth opportunities, and career development (Nnaeto et al., 2022). There should be no negative impacts on the employees as a result of the succession. Third, the interests of suppliers and customers will be taken into account. Notably, these constituents are interested in the business’s continuity and stability. The succession plan should ensure that communication is done effectively with suppliers and customers while keeping potential disruptions low.

References

Chang, A. A., Mubarik, M. S., & Naghavi, N. (2021). Passing on the legacy: exploring the dynamics of succession in family businesses in Pakistan. Journal of Family Business Management, 11(2), 161-184.

Gagné, M., Marwick, C., Brun de Pontet, S., & Wrosch, C. (2021). Family business succession: What’s motivation got to do with it? Family Business Review, 34(2), 154-167.

Hess, E. D., (2011). Growing an entrepreneurial business: Concepts & cases. Stanford University Press

Nnaeto, J. O., Madu, I. L., & Ndoh, J. A. (2022). Succession Management and Sustainability of Micro Organizations: South East Conundrum. Global Journal of Human Resource Management, 10(6), 49-62.

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Edens & Avant Case Study Unit 8 DB: Edens & Avant Case Study

Please read the Edens & Avant Case Study at the end of Chapter 9 in your textbook. Then, put yourself in Joe Edens’ shoes.

Edens and Avant Case Study

What are your key concerns and goals concerning succession? Whose stakeholders’ interests do you need to consider? Explain.