It’s a familiar sight. Time and again, organisations are caught out by the sudden departure of senior leaders, and forced to scrabble to find replacements. In the meantime, of course, the organisation drifts, rudderless, while recruiters and directors struggle to fill the gap. Succession planning? You’d think the concept had never been invented.
There are always difficult times—for the economy as a whole, for individual industries or sectors of the economy, or for individual companies (and not forgetting Brexit). And in such difficult times, concentrating on current business and reducing investments in innovative projects is the natural response. Even so, cutting back or cancelling innovation projects must be a measure of last resort.