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The Impact of Succession Management on Small and Medium Enterprises’ Sustainability in Lagos State, Nigeria

Author

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  • Francis Ezieshi Monyei

    (Department of Management, Faculty of Business Administration, Enugu Campus, University of Nigeria, Nsukka 410001, Nigeria)

  • Wilfred I. Ukpere

    (Department of Industrial Psychology and People Management, School of Management, College of Business & Economics, University of Johannesburg, Johannesburg 2092, South Africa)

  • Emmanuel Kalu Agbaeze

    (Department of Management, Faculty of Business Administration, Enugu Campus, University of Nigeria, Nsukka 410001, Nigeria)

  • Solomon Omonona

    (Business Management Department, University of Fort Hare, Alice 5700, South Africa)

  • Lovlyn Ekeowa Kelvin-Iloafu

    (Department of Management, Faculty of Business Administration, Enugu Campus, University of Nigeria, Nsukka 410001, Nigeria)

  • Happiness Ozioma Obi-Anike

    (Department of Management, Faculty of Business Administration, Enugu Campus, University of Nigeria, Nsukka 410001, Nigeria)

Abstract

This study investigated the impact of succession management on small and medium enterprises’ (SMEs’) sustainability in Lagos, Nigeria. The study adopted a descriptive survey research method and its participants were selected from five SMEs across Lagos State, based on their number of years of operating, staff strength, and branch locations. The enterprises included Gnakk Enterprises, Dreamville School, Vitus Cosmetics, Osi Ventures, and Chijioke Frozen Foods. The Pearson product moment correlation coefficient was used to analyze the hypotheses, which revealed that succession management had a positive correlation (r = 0.934, p -value < 0.05) with corporate sustainability amongst SMEs in Lagos State, Nigeria. Hence, the study concluded that in respect of strategic recruitment, succession management attracts and assists to retain a high performing skilled labour force.

Suggested Citation

  • Francis Ezieshi Monyei & Wilfred I. Ukpere & Emmanuel Kalu Agbaeze & Solomon Omonona & Lovlyn Ekeowa Kelvin-Iloafu & Happiness Ozioma Obi-Anike, 2021. "The Impact of Succession Management on Small and Medium Enterprises’ Sustainability in Lagos State, Nigeria," Sustainability, MDPI, vol. 13(23), pages 1-12, December.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:23:p:13489-:d:696097
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    References listed on IDEAS

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    Cited by:

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    2. Gregory Shumbambiri & Dr Judith Mwenje, 2023. "Family Business Literature Overview: Towards Achieving Family Business Growth," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(5), pages 942-951, May.

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