Assess the likely value of succession planning to Derby Theatre. - Edexcel - A-Level Business - Question 2 - 2022 - Paper 3

Derby Theatre is labour-intensive and relies heavily on stable relationships between personnel, including actors, producers, and directors. Effective succession planning can help ensure these relationships are maintained, which is vital for the theatre's culture and overall survival.

By implementing a succession plan, Derby Theatre can retain staff more effectively. A well-defined plan helps current staff feel a sense of belonging and provides opportunities for self-actualization, which can motivate them to stay with the organization and reduce turnover.

However, not all roles are suitable for internal succession planning due to their specific requirements. For instance, positions like the Creative Learning Director may necessitate a unique skill set that might not be available within the current staff pool. This could lead to difficulties in filling such positions when they become vacant.

Sometimes, it might be necessary to recruit new leaders from outside the organization. This can bring in fresh perspectives and innovative ideas, potentially attracting new audiences and boosting revenue. However, relying too heavily on external candidates might disrupt existing team dynamics.

In conclusion, while succession planning offers clear benefits to Derby Theatre, such as increased retention and continuity, there are inherent challenges that must be navigated. A balanced approach would consider both internal and external recruitment strategies to ensure the theatre remains a vibrant cultural hub.