Management Succession and Entrepreneurship Business Sustenance
Succession planning has drawn substantial interest among researchers. Research reports designate deficiency of quality planning in the management of SMEs especially in developing countries like Nigeria and this constitutes a foremost limitation to the effective management of SMEs. Succession plannin...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Peoples’ Friendship University of Russia (RUDN University)
2021-08-01
|
| Series: | RUDN Journal of Public Administration |
| Subjects: | |
| Online Access: | http://journals.rudn.ru/public-administration/article/viewFile/27246/19686 |
| _version_ | 1819098753079967744 |
|---|---|
| author | Solomon A. Kowo Olalekan O. Akinrinola Olufemi A. Akinbola |
| author_facet | Solomon A. Kowo Olalekan O. Akinrinola Olufemi A. Akinbola |
| author_sort | Solomon A. Kowo |
| collection | DOAJ |
| description | Succession planning has drawn substantial interest among researchers. Research reports designate deficiency of quality planning in the management of SMEs especially in developing countries like Nigeria and this constitutes a foremost limitation to the effective management of SMEs. Succession planning are fundamental to steady performance, sustainability and competitive advantage of SMEs. The objective of the study was to investigate the effects of HR planning/forecasting on family business continuity and also to examine the effect of workers education on survival of entrepreneur. 110 copies of questionnaire were administered to the employees in the five selected SMEs in Abeokuta Ogun state, Nigeria to get primary data that treated and tested appropriate research questions and hypotheses accordingly. Analysis of variance (ANOVA), correlation efficient and regression analysis was employed. The Yamane formula was used to determine the sample size. The test re-test reliability approach was adopted for the convenience of the researcher. Reliability was ensued by Cronbachs Alpha of 0.932. The data was analyzed using manual and electronic based methods through the data preparation grid and statistical package for the social sciences, (SPSS). The study found out that HR succession planning significantly assists SMEs to increase business continuity and Workers education significantly assists SMEs to increase business survival. The study recommends that organizational succession planning should be at regular interval as this will enable workers to know its importance and also business successors should be appointed based on merit so that the right and experience successors can manage the business. |
| first_indexed | 2024-12-22T00:35:59Z |
| format | Article |
| id | doaj.art-09e84d0fbb8b4d80b837323d2a4c5017 |
| institution | Directory Open Access Journal |
| issn | 2312-8313 2411-1228 |
| language | English |
| last_indexed | 2024-12-22T00:35:59Z |
| publishDate | 2021-08-01 |
| publisher | Peoples’ Friendship University of Russia (RUDN University) |
| record_format | Article |
| series | RUDN Journal of Public Administration |
| spelling | doaj.art-09e84d0fbb8b4d80b837323d2a4c50172022-12-21T18:44:49ZengPeoples’ Friendship University of Russia (RUDN University)RUDN Journal of Public Administration2312-83132411-12282021-08-018325627610.22363/2312-8313-2021-8-3-256-27620340Management Succession and Entrepreneurship Business SustenanceSolomon A. Kowo0Olalekan O. Akinrinola1Olufemi A. Akinbola2Kwara State UniversityCaleb UniversityFederal University of AgricultureSuccession planning has drawn substantial interest among researchers. Research reports designate deficiency of quality planning in the management of SMEs especially in developing countries like Nigeria and this constitutes a foremost limitation to the effective management of SMEs. Succession planning are fundamental to steady performance, sustainability and competitive advantage of SMEs. The objective of the study was to investigate the effects of HR planning/forecasting on family business continuity and also to examine the effect of workers education on survival of entrepreneur. 110 copies of questionnaire were administered to the employees in the five selected SMEs in Abeokuta Ogun state, Nigeria to get primary data that treated and tested appropriate research questions and hypotheses accordingly. Analysis of variance (ANOVA), correlation efficient and regression analysis was employed. The Yamane formula was used to determine the sample size. The test re-test reliability approach was adopted for the convenience of the researcher. Reliability was ensued by Cronbachs Alpha of 0.932. The data was analyzed using manual and electronic based methods through the data preparation grid and statistical package for the social sciences, (SPSS). The study found out that HR succession planning significantly assists SMEs to increase business continuity and Workers education significantly assists SMEs to increase business survival. The study recommends that organizational succession planning should be at regular interval as this will enable workers to know its importance and also business successors should be appointed based on merit so that the right and experience successors can manage the business.http://journals.rudn.ru/public-administration/article/viewFile/27246/19686management successionbusiness sustenanceworker’s educationhr planningbusiness continuity |
| spellingShingle | Solomon A. Kowo Olalekan O. Akinrinola Olufemi A. Akinbola Management Succession and Entrepreneurship Business Sustenance RUDN Journal of Public Administration management succession business sustenance worker’s education hr planning business continuity |
| title | Management Succession and Entrepreneurship Business Sustenance |
| title_full | Management Succession and Entrepreneurship Business Sustenance |
| title_fullStr | Management Succession and Entrepreneurship Business Sustenance |
| title_full_unstemmed | Management Succession and Entrepreneurship Business Sustenance |
| title_short | Management Succession and Entrepreneurship Business Sustenance |
| title_sort | management succession and entrepreneurship business sustenance |
| topic | management succession business sustenance worker’s education hr planning business continuity |
| url | http://journals.rudn.ru/public-administration/article/viewFile/27246/19686 |
| work_keys_str_mv | AT solomonakowo managementsuccessionandentrepreneurshipbusinesssustenance AT olalekanoakinrinola managementsuccessionandentrepreneurshipbusinesssustenance AT olufemiaakinbola managementsuccessionandentrepreneurshipbusinesssustenance |