White Paper Demonstrates Need to Integrate Business Acumen into Succession Planning Programs
(Gainesville, Florida, April 11, 2007) The Perth Leadership Institute, the industry leader in business acumen assessment and development programs, today announced the availability of its white paper showing the need for business acumen integration with succession planning programs. The white paper sets out a new approach to identifying and developing executives with styles that are most likely to have a high commercial impact, using formal assessment instruments developed by Perth, as a key factor for succession planning programs.
The research is based on the book by Dr. E. Ted Prince, Founder and CEO of the Institute, entitled The 3 Financial Styles of Very Successful Leaders, published by McGraw-Hill in 2005.
According to Dr. Prince, "Our White Paper sets out a new approach to succession planning. Formal assessment instruments used in succession planning programs need to take account of business acumen as well as the more traditional use of personality and competency assessments. This is a key to tying these programs more tightly to shareholder goals"
The Perth Leadership Institute has developed new business acumen assessments based on its research. These form part of its financial performance training and improvement programs for executives. These include its individual, team and C-level financial performance programs.
Perth recently announced the release of its Financial Outcome Assessment™, an online instrument which assesses the financial acumen of executives and managers and shows them how to develop it.