The Dollar Churn
    Article

  Directory

Home | Business
Search:
DollarChurn.com Article Directory

Emotional Intelligence - A Successful Transition Plan for the CEO
By: Byron Stock

The Successor's Dilemma - One of the toughest situations corporate boards face today is the emotionally charged issue of CEO succession. It's also one of the most important decisions that a board makes. While much has been written about what management consultant Dan Ciampa termed the "successor's dilemma," the issue of succession is a dilemma for more than just the successor.

It's not unusual to see an individual brought in as president or chief operating officer with the intention of grooming him or her for the highest office and then watching that person walk out the door before ascending to the top job. These succession difficulties have more than just an internal effect. They can also affect the company's stock.

A No-Win Situation

Why is this happening? Leadership transitions are fraught with emotional tension. There's a lot at stake, and it is much more than a business transaction. Because they are unprepared to manage the intense emotional turmoil that accompanies such a transition, most boards, CEOs and successors find it difficult to handle the situation well.

The power struggle between a CEO and his successor has gained a reputation as a no-win situation. The CEO, even if he names a successor, has trouble relinquishing the power and letting go of the job that has been his identity.

Likewise, the successor faces a troubling Catch-22: when he attempts to demonstrate his leadership abilities, he is frequently seen as a threat by the CEO. But if he holds back, he's labeled as incapable of the leadership needed for the top job.

Everyone involved could experience worry, frustration, anxiety and even anger at times. It's bad enough to feel these emotions, but brain researchers have found that experiencing them actually inhibits cognitive functioning. It's called cortical inhibition, or more popularly "emotional hijacking." So the old saying, "I was so upset I couldn't think straight" is actually true. Think about the last time you got mad at yourself for hitting a bad golf shot. What typically happens to your performance after that? It gets worse. When you experience negative emotions, you are not as likely to make the best decisions. Experiencing negative emotions is normal, but most people don't know how to positively manage these emotional reactions. The situation often escalates into open hostility or conflict, and the board finds itself caught in the middle.

Planning for Success

The succession issue doesn't have to be so painful and difficult. It can be a win-win situation by preparing the board, the CEO and his successor for the process. This involves making a plan for succession, including both the CEO and board in the process, but most importantly, educating the board, CEO and upper management ranks on how to handle this emotionally charged transition.

When those involved in leadership transitions have improved their emotional intelligence (EI) skills, the likelihood of success increases. Recognizing that there are many strong negative emotions during any transition is the first step. Denying these types of feelings just makes the whole situation more difficult and more volatile.

Managing Emotions

How are emotional intelligence skills enhanced, so that emotional mismanagement doesn't occur? Through simple strategies that can be learned and practiced, so that you can improve how you handle situations you perceive as threatening. Consequently, training in EI development should be included in an overall management development strategy.

While a few people have naturally high emotional intelligence, (just as some people are mathematical geniuses) most of us need some skill development in this area. Unfortunately, the typical K-12 educational system includes training in math, reading, writing and other subjects, but doesn't address the key emotional management skills that are necessary for success. Neither do university curricula. In other words, if a person does not have high EI skills, it is not his or her fault. He or she simply never was taught those skills.

Developing your emotional intelligence skills is not something you can learn by reading a book or an article. It takes training and practice. But the good news is that it can be learned.

The hallmarks of a seamless succession process include effective emotional self-awareness, emotional self-management, and empathy on the part of the CEO, his successor, the existing and transitioning executive team and the board.

In other words, when everyone involved has developed skills in the emotional intelligence competencies, the whole transition runs more smoothly. This includes not only the board but also everyone at the executive level who plays a key role in a successful transition.

Article Source: http://www.dollarchurn.com/articles

Tailoring the art and science of Emotional Intelligence (EI) to your needs, Byron Stock focuses on results, helping individuals and organizations enhance EI skills, leadership competencies and core values. Visit www.ByronStock.com to learn about his practical, user-friendly techniques to enhance Emotional Intelligence skills.

Please Rate this Article

 

Not yet Rated

Click the XML Icon Above to Receive Business Articles Via RSS!

Additional Articles From - Home | Business
Sign Up for a free account

learn more.
Member Login

Submit Articles
Submission Guidelines

Top Authors
Most Popular Articles

Ezine Notifications
Article RSS Feeds
Business Opportunities
SFI
Empowerism
Host4Profit
Warrior Pro
Traffic Swarm
Providing You Wealth

Are you smart enough to make money online? You could be...

Click here to get your FREE copy of "Dotcomology - The Science of Making Money Online" TODAY!

Link to Us
Privacy Policy
Terms of Service
Article Directory Software
Click here to download the exact software that powers this directory for FREE. Start your own article directory today!
DollarChurn.com - Your Online Home Internet Business Opportunity Resource - Home Business Ideas and Opportunities

Powered by Article Dashboard