The process of Management Professionalization involves adopting the most rational and least personalized administrative practices; it is the integration process for new professional managers selected for their business acumen; it is the time to reflect on the role of the shareholders and their successors, and to admit the need for an outside consultant to oversee this change.
The main aspects of this process are:
- a decentralization of power
- professional managers selected from the market who possess the right profile and experience to take on challenges
- formalization of management tools
- long-term strategic planning and vision
- governance controls and tools
- organizational structure compatible with the operation.