Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria
Objective: This study seeks to determine the contributory factors to successful succession and post-succession performance. And the role of these factors in the post-succession financial and non-financial performance of family-owned SMEs in South Eastern Nigeria. Research Design & Methods: The...
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| Format: | Article |
| Language: | English |
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Krakow University of Economics
2019-12-01
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| Series: | International Entrepreneurship Review |
| Subjects: | |
| Online Access: | https://iertest.uek.krakow.pl/index.php/pm/article/view/1857 |
| _version_ | 1797715406639595520 |
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| author | Kenneth Chukwujioke Agbim |
| author_facet | Kenneth Chukwujioke Agbim |
| author_sort | Kenneth Chukwujioke Agbim |
| collection | DOAJ |
| description | Objective: This study seeks to determine the contributory factors to successful succession and post-succession performance. And the role of these factors in the post-succession financial and non-financial performance of family-owned SMEs in South Eastern Nigeria.
Research Design & Methods: The adopted quantitative methodology is interview. In each of the purposively selected 25 family-owned SMEs, the incumbent, a sibling of the incumbent and a top level manager were interviewed. In all, 75 respondents were interviewed. The transcribed interviews were subjected to thematic content analysis.
Findings: The contributory factors to successful succession are the characteristics of succession planning, the incumbent, the potential successor, and the family-owned SME. The factors that contribute to the post-succession performance are the culture of making succession planning a continuous process, and the characteristics of the incumbent and the family-owned SME. These factors ensure that children of the incumbent in the SME become more active so as to be selected as potential successors.
Contribution & Value Added: The study identified the contributory factors to successful succession and post-succession performance of the family-owned SMEs. To achieve successful succession and post-succession performance, the incumbents should inculcate the characteristics of these factors into their potential successors. Also, these characteristics should be made part of the culture of the family-owned SMEs. |
| first_indexed | 2024-03-12T08:06:18Z |
| format | Article |
| id | doaj.art-e1a5a4ca73c141d99f4a193e4d234504 |
| institution | Directory Open Access Journal |
| issn | 2658-1841 |
| language | English |
| last_indexed | 2024-03-12T08:06:18Z |
| publishDate | 2019-12-01 |
| publisher | Krakow University of Economics |
| record_format | Article |
| series | International Entrepreneurship Review |
| spelling | doaj.art-e1a5a4ca73c141d99f4a193e4d2345042023-09-02T19:32:59ZengKrakow University of EconomicsInternational Entrepreneurship Review2658-18412019-12-0152Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern NigeriaKenneth Chukwujioke Agbim0University of Agriculture, Makurdi, Benue StateObjective: This study seeks to determine the contributory factors to successful succession and post-succession performance. And the role of these factors in the post-succession financial and non-financial performance of family-owned SMEs in South Eastern Nigeria. Research Design & Methods: The adopted quantitative methodology is interview. In each of the purposively selected 25 family-owned SMEs, the incumbent, a sibling of the incumbent and a top level manager were interviewed. In all, 75 respondents were interviewed. The transcribed interviews were subjected to thematic content analysis. Findings: The contributory factors to successful succession are the characteristics of succession planning, the incumbent, the potential successor, and the family-owned SME. The factors that contribute to the post-succession performance are the culture of making succession planning a continuous process, and the characteristics of the incumbent and the family-owned SME. These factors ensure that children of the incumbent in the SME become more active so as to be selected as potential successors. Contribution & Value Added: The study identified the contributory factors to successful succession and post-succession performance of the family-owned SMEs. To achieve successful succession and post-succession performance, the incumbents should inculcate the characteristics of these factors into their potential successors. Also, these characteristics should be made part of the culture of the family-owned SMEs.https://iertest.uek.krakow.pl/index.php/pm/article/view/1857Family-Owned SMEsSuccessful SuccessionPost-SuccessionFinancial PerformanceNon-Financial Performance |
| spellingShingle | Kenneth Chukwujioke Agbim Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria International Entrepreneurship Review Family-Owned SMEs Successful Succession Post-Succession Financial Performance Non-Financial Performance |
| title | Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria |
| title_full | Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria |
| title_fullStr | Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria |
| title_full_unstemmed | Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria |
| title_short | Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria |
| title_sort | determining the contributory factors to successful succession and post succession performance of family owned smes in south eastern nigeria |
| topic | Family-Owned SMEs Successful Succession Post-Succession Financial Performance Non-Financial Performance |
| url | https://iertest.uek.krakow.pl/index.php/pm/article/view/1857 |
| work_keys_str_mv | AT kennethchukwujiokeagbim determiningthecontributoryfactorstosuccessfulsuccessionandpostsuccessionperformanceoffamilyownedsmesinsoutheasternnigeria |