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Abstract
This study sought to discover commonalities of existing succession planning programs in leading aerospace companies. Basic commonalities of succession programs provided the basis for a design of a succession plan as it might apply to a leading aerospace company in the United States.
A case study approach was primarily used as the research method. Succession planning administrators from 17 aerospace companies were surveyed by telephone in an effort to identify commonalities in succession planning. In addition to the telephone questionnaire survey, information was also obtained from personal interviews and observations.
One characteristic common to all succession programs is that each program represents a means of insuring a sufficient number of talented, qualified persons to fill key managerial roles in the organizations. A formalized systems approach to succession planning is more efficient than a set of informal procedures in attaining desired goals. Another characteristic common to succession programs in leading aerospace companies is the presence of the following components: a set of specific objectives; a definition of who is included in the plan; the use of appropriate documents; policies regarding the development of candidates; support of the chief executive officer; a procedure for nominating/identifying candidates; nominal support and acceptance by managers implementing the plan. The primary findings of this study were examined in relation to formality of succession plan being practiced.
