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

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

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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 g5210t-p90 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 click here be made part of the culture of the family-owned SMEs.