Definition
A Multiple-Management Plan is a strategic approach where top management integrates lower and middle-level managers into the planning and administration of corporate affairs. This method not only enhances organizational involvement but also serves as an on-the-job training and assessment process for future top-level managers.
Examples
Leadership Development Programs: Companies like General Electric (GE) and IBM have long-standing practices of involving middle management in corporate strategy sessions and planning processes to groom future leaders.
Executive Shadowing: A technology startup may implement a program where middle managers shadow senior executives during critical business meetings and decision-making processes.
Strategic Task Forces: Forming cross-functional teams with managers from different hierarchical levels to tackle specific business challenges, thereby giving them exposure to complex, strategic problem-solving.
Frequently Asked Questions (FAQs)
What is the purpose of a Multiple-Management Plan?
The primary purpose of a Multiple-Management Plan is to improve the involvement of lower and middle management in high-level decision-making and to identify and train potential future top-level managers.
How does a Multiple-Management Plan benefit a company?
It benefits a company by creating a more informed and cohesive leadership pipeline, ensuring continuity, and enhancing the skills and knowledge base of their managers.
What are the primary components of a Multiple-Management Plan?
It typically includes structured training programs, mentorship opportunities, participation in strategic planning, and performance assessment.
Are there any risks associated with Multiple-Management Plans?
Risks may include potential internal conflict due to increased scrutiny and the possibility of decision-making bottlenecks if not managed properly.
Can Multiple-Management Plans be applied in small businesses?
Yes, the principles can be scaled to fit businesses of any size, promoting leadership development and organizational cohesion.
Related Terms with Definitions
- Leadership Development: Programs aimed at expanding the capacity of individuals to perform in leadership roles within an organization.
- Strategic Planning: The process by which an organization defines its strategy and makes decisions on allocating resources to pursue this strategy.
- Corporate Governance: The system of rules, practices, and processes by which a company is directed and controlled.
- Management Training: Comprehensive training programs intended to improve managerial skills and competencies.
- Succession Planning: A strategy for passing on leadership roles, often carried out as a means to identify and develop new leaders who can replace old leaders when they leave or retire.
Online Resources
- Harvard Business Review - Leadership Development
- MIT Sloan Management Review - Strategic Planning
- McKinsey & Company - Corporate Governance
- Inc. - Management Training Programs
- SHRM - Succession Planning
Suggested Books for Further Studies
- “Leaders Eat Last: Why Some Teams Pull Together and Others Don’t” by Simon Sinek
- “The Leadership Pipeline: How to Build the Leadership Powered Company” by Ram Charan, Stephen Drotter, and James Noel
- “Good to Great: Why Some Companies Make the Leap… and Others Don’t” by Jim Collins
- “The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter” by Michael D. Watkins
- “Execution: The Discipline of Getting Things Done” by Larry Bossidy and Ram Charan
Fundamentals of Multiple-Management Plan: Management Basics Quiz
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