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Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria

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  • Kenneth Chukwujioke Agbim

    (Department of Management, University of Nigeria, Enugu, Nigeria (doctoral candidate))

Abstract

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.

Suggested Citation

  • Kenneth Chukwujioke Agbim, 2019. "Determining the contributory factors to successful succession and post-succession performance of family-owned SMEs in South Eastern Nigeria," International Entrepreneurship Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 5(2), pages 53-73.
    • Handle: RePEc:krk:ientre:v:5:y:2019:i:2:p:53-73
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    Cited by:

    1. Gregory Shumbambiri, 2023. "Inter-Generational Succession Planning in Zimbabwe’s Indigenous Family Businesses. A Case Study of The Challenges and Critical Issues For Consideration," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(2), pages 1400-1416, February.

    More about this item

    Keywords

    Family-Owned SMEs; Successful Succession; Post-Succession; Financial Performance; Non-Financial Performance;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • D19 - Microeconomics - - Household Behavior - - - Other
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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