OKOH, EMMANUEL EHIMEN and Covenant University, Theses (2021) INHERITANCE CULTURE, SUCCESSION PLANNING AND BUSINESS SURVIVAL OF SELECTED FAMILY-OWNED SCHOOLS IN SOUTH-WEST, NIGERIA. ["eprint_fieldopt_thesis_type_phd" not defined] thesis, Covenant University.
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Abstract
All over the world, family-owned businesses contend with a myriad of challenges; some of which include, the propensity for survival over a period as well as the ability for continued achievement of set objectives. The role of these businesses, as major stimulants of socio-economic enterprise in both developed and developing economies, reinforces their survival as an imperative of economic growth. However, the high failure rate of family businesses, especially in the education sector in Nigeria, is a cause for concern requiring scholarly investigation. It is against this backdrop that this study investigated the moderating effect of succession planning on the relationship between inheritance culture and business survival of selected family-owned schools in South-West, Nigeria. The study adopted a mixed-method approach of data collection. A total of 500 copies of the questionnaire were administered in nine family-owned schools, 357 copies were retrieved, and the responses were ranked subsequently. Structural Equation Modelling (Partial Least Squares) was used to perform a multiple linear regression to test the influence of the variables representing inheritance culture, succession planning and business survival of family-owned schools. The thematic analysis was adopted for the qualitative data. The study revealed that succession planning moderates the relationship between inheritance culture and family business survival. The relationship among variables reveals that the primogeniture rule has a significant effect on the dynamic capability of family-owned schools. Similarly, the result shows that the rule of multiple heirship has a considerable influence on the adaptability of family-owned schools. The study recommended that the primogeniture rule should be applied in family-owned businesses provided the first child has the experience, interest, and competence to manage the business. Also, the problems of polygamy in family-owned schools should be managed through effective communication and the establishment of appropriate structures that define the rights and responsibilities and benefits of each family member. This study recommends that founders of family businesses should ensure the competence, preparedness, and vision clarity of successors through pragmatic early education that is geared towards business survival.
| Item Type: | Thesis (["eprint_fieldopt_thesis_type_phd" not defined]) |
|---|---|
| Uncontrolled Keywords: | Business Survival; Entrepreneurial Culture; Gender-Restriction; Inheritance Culture; Primogeniture; Succession Planning. |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Hannah Akinwumi |
| Date Deposited: | 01 Nov 2021 11:37 |
| Last Modified: | 01 Nov 2021 11:37 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/15423 |
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