Harvard Case - Founder-CEO Succession at Acer
"Founder-CEO Succession at Acer" Harvard business case study is written by Noam Wasserman, Michael Shih-ta Chen, Keith Chi-ho Wong. It deals with the challenges in the field of Entrepreneurship. The case study is 19 page(s) long and it was first published on : Jan 11, 2011
At Fern Fort University, we recommend a phased approach to CEO succession at Acer, focusing on a combination of internal and external talent to ensure a smooth transition and maintain the company?s competitive edge. This involves identifying and developing internal candidates while simultaneously engaging an external search firm to explore potential external candidates. This strategy allows for a comprehensive evaluation of both internal and external talent, ensuring the selection of the best possible leader to guide Acer into the future.
2. Background
This case study focuses on Acer, a Taiwanese multinational hardware and electronics corporation, facing a critical juncture in its history. Stan Shih, the founder and CEO, is nearing retirement and needs to be replaced. Acer has experienced both periods of tremendous success and challenging setbacks, navigating the turbulent world of technology and facing fierce competition from global giants.
The main protagonists are Stan Shih, the visionary founder and CEO, and the Acer board of directors, who must decide on a successor to lead the company into its next chapter. The case explores the complexities of finding a leader who can maintain Acer?s legacy of innovation while adapting to the rapidly evolving technological landscape.
3. Analysis of the Case Study
This case study can be analyzed through the lens of several frameworks, including:
- Leadership Succession Planning: Acer needs a robust succession plan that ensures continuity and minimizes disruption during the transition. This involves identifying potential candidates, assessing their leadership skills, and developing a comprehensive training program for the chosen successor.
- Organizational Culture: Acer?s culture, characterized by its entrepreneurial spirit and focus on innovation, needs to be preserved and nurtured during the transition. The new CEO must understand and embrace this culture to maintain employee morale and drive future growth.
- Competitive Landscape: The technology industry is fiercely competitive, and Acer faces challenges from established players like Dell and HP, as well as emerging competitors. The new CEO must develop a clear strategy to navigate this competitive landscape and maintain Acer?s market share.
- Growth Strategy: Acer needs a clear growth strategy to capitalize on emerging technologies and expand into new markets. This requires a deep understanding of market trends, customer needs, and technological advancements.
4. Recommendations
Phase 1: Internal Candidate Development (6-12 months)
- Identify and Assess Internal Candidates: The board should establish a committee to identify and assess potential internal candidates for the CEO role. This should include senior executives with proven leadership skills, a strong understanding of Acer?s business, and a vision for the future.
- Develop a Succession Program: Implement a comprehensive succession program for the identified internal candidates. This program should include mentorship, leadership training, and exposure to key business decisions.
- Evaluate Performance: Regularly evaluate the performance of internal candidates against key metrics, including financial performance, market share, and innovation.
Phase 2: External Search and Selection (Simultaneous with Phase 1)
- Engage an External Search Firm: The board should engage a reputable executive search firm specializing in the technology industry to identify potential external candidates.
- Define Candidate Profile: Develop a clear candidate profile outlining the necessary skills, experience, and leadership qualities for the CEO position.
- Conduct Interviews and Assessments: Conduct thorough interviews and assessments of both internal and external candidates. This should include interviews with key stakeholders, including employees, customers, and investors.
Phase 3: Transition and Integration (6-12 months)
- Select the New CEO: After a comprehensive evaluation process, the board should select the best candidate, regardless of whether they are internal or external.
- Develop a Transition Plan: Create a detailed transition plan outlining the responsibilities of the outgoing and incoming CEOs, ensuring a smooth handover of leadership.
- Integrate the New CEO: Provide the new CEO with the necessary support and resources to effectively lead the organization. This includes introducing them to key employees, customers, and partners.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The new CEO must understand and embrace Acer?s core competencies in innovation, technology, and customer service. They must also be committed to the company?s mission of providing high-quality products and services to customers worldwide.
- External Customers and Internal Clients: The new CEO must be able to effectively manage relationships with external customers, partners, and investors, while also fostering a positive and productive work environment for internal employees.
- Competitors: The new CEO must have a deep understanding of the competitive landscape and be able to develop a strategy to maintain Acer?s market share and competitive advantage.
- Attractiveness: The chosen CEO should possess the skills, experience, and vision to lead Acer to continued growth and profitability.
6. Conclusion
Acer?s success in the future depends on a strategic and well-planned CEO succession process. By combining internal candidate development with an external search, the company can ensure a smooth transition and select a leader who can guide Acer through its next phase of growth.
7. Discussion
Alternatives:
- Internal Candidate Only: This approach carries the risk of limiting the pool of potential candidates and potentially overlooking a more qualified external leader.
- External Candidate Only: This approach may lead to a lack of understanding of Acer?s internal culture and operations, potentially causing friction during the transition.
Risks and Key Assumptions:
- Finding a Qualified Candidate: The success of this approach relies on finding a qualified and capable leader who can effectively lead Acer.
- Cultural Fit: The new CEO must be able to adapt to Acer?s existing culture and foster a positive and productive work environment.
- Market Volatility: The technology industry is constantly evolving, and the new CEO must be able to adapt to changing market conditions and technological advancements.
8. Next Steps
- Establish a Succession Committee: Form a committee of board members and senior executives to oversee the succession process.
- Develop a Candidate Profile: Define the skills, experience, and leadership qualities required for the CEO position.
- Initiate Internal Candidate Development: Identify and develop potential internal candidates through a comprehensive succession program.
- Engage an External Search Firm: Partner with a reputable executive search firm to identify potential external candidates.
- Conduct Interviews and Assessments: Conduct thorough interviews and assessments of both internal and external candidates.
- Select the New CEO: Choose the best candidate based on a comprehensive evaluation process.
- Develop a Transition Plan: Create a detailed transition plan to ensure a smooth handover of leadership.
- Integrate the New CEO: Provide the new CEO with the necessary support and resources to effectively lead the organization.
By following these steps, Acer can ensure a successful CEO succession process that will set the stage for continued growth and success in the years to come.
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Case Description
Stan Shih, founder-CEO of Acer, Inc., had proactively chosen and transitioned the "perfect" successor as CEO, but was now faced with major problems. Over the last two years, his heir apparent, Leonard Liu, had made the changes he had been hired to make, including revamping the organization structure and instilling a new corporate culture that emphasized accountability. However, such changes had caused numerous clashes between him and other cofounders of the company, in particular, Shih's wife, Carolyn. Liu had now suggested that "Carolyn should retire into her kitchen." Faced with office infighting and increasing clashes between the markedly different Western and Chinese styles of management, Shih needed Liu to manage the increasing complexity of global competition. However, Shih was now wondering if he had made the right decision to appoint Liu as his successor.
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