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Leadership Succession Planning: An Examination of Sole Proprietor Estate Surveying and Valuation Firms in Lagos Metropolis, Nigeria

Oloyede, Victor O. and Ajibola, M. O. and Ayedun, C. A. (2016) Leadership Succession Planning: An Examination of Sole Proprietor Estate Surveying and Valuation Firms in Lagos Metropolis, Nigeria. In: 3rd International Conference On African Development Issues (CU-ICADI), May 9- May 11 2016, Covenant University, Ota, Nigeria.

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Abstract

This paper reports the results from a survey of 38 small sole- proprietor estate surveying and valuation firms in Lagos, Nigeria. A 45% questionnaire retrieval rate was achieved while CEOs/owners of estate surveying and valuation firms were interviewed. Descriptive statistics were used to analyze the respondents’ general characteristics as well as their attitude toward business succession planning. The study found that soleproprietor firm owners desired that their firms outlive them through transferring of the firms’ businesses to their next generation. However, majority of these sole proprietors’ next generation were not keen on pursuing real estate business related courses in their undergraduate days in view of their exposure to modern technology and the influence of peers. Also, the study found that the owners of these firms have not, as a matter of policy, planned for their succession because of the cultural and attitudinal beliefs and values, which forbid thoughts about death or incapacitation about a living soul. As a result, the study indicated that only 5% of sole proprietor estate surveying and valuation firms in this category have continued to the second generation in the study area. This outcome has serious implications for small professional service businesses’ economic and job creation potential for Nigeria.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Succession Planning, Sole Proprietor Firm, Estate Surveying and Valuation Firm
Subjects: T Technology > TA Engineering (General). Civil engineering (General)
T Technology > TH Building construction
Divisions: Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment
Depositing User: Ms Ugwunwa Esse
Date Deposited: 29 Jun 2016 15:46
Last Modified: 29 Jun 2016 15:46
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/6706

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