Pablo business has been in operation for 22 years. It has taken him that long to get his business where he wants it. Now he must turn it over to someone and Pablo does not want his life’s work to go down the drain. Pablo also knows his business inside and out. He is probably capable of doing any job that there is in his company. It would be hard fix Pablo to turn over his company to an untrained person.
Cite and discuss 2 reasons that Pablo should begin thinking about succession planning? Recently, Pablo suffered a heart attack and obviously his health is not good. Pablo must come up with a succession plan before his health fails again. If Pablo died there would be nobody capable of running his company. The sooner Pablo starts grooming an heir, the better off his family would be.
Why would you recommend that rebbeca and joes do to convice Pablo that they are right? Over at least 3 operative recommendation. Joes and Rebecca should try to convince Pablo that he needs help with the company. They should look within the company for a competent manager that could do pablo’s job. Another place to find a replacement for Pablo is outside the company. Pablo could start looking for a person with his skills and experience and bring him into the company. Also, Pablo could start training his son for the presidents chair. Although, it was started, it will take 10-15 years. Pablo has enough time to train his son as long as his son is interested. Another alternative to the problem is to sell the company. The company is very successful and Pablo would have no problem finding a buyer.