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|Title:||An Analysis on the Adoption of Succession Planning By Family Businesses. A Case Study Of Family Businesses In The Retail Industry In Bulawayo.|
|Publisher:||Lupane State University|
|Abstract:||The objective of the study was to do an analysis of the adoption of succession planning by Family Businesses in the Bulawayo province. The study provided a detailed enlightenment on the theories sustaining the adoption of succession planning by family businesses and appraised the factors that are essential for the adoption of succession planning namely strategizing, administration expertise, communication and power by family owned businesses. This led to the formation of a conceptual framework describing the effect of the above adoption success factors. Additionally, self-administered questionnaire was designed with construct items based on the four factors above. For the purpose of this study the positivist paradigm or philosophy was adopted. This model was deemed as perfect for this research for the reason that it makes use of quantitative indices and is interested in finding out and confirming fundamental laws. The major findings of the study are that the chosen independent variables namely strategizing, administration expertise, communication and power have a positive influence on the adoption of succession. The study revealed that good administration practices and clear communication result in continued existence of family businesses. The study again identified that many family businesses do to some extent involve their family or relatives in the operations of the business. The study recommended that family businesses should train prospective successors for the enterprises. Finally the study recommends that successors for the business should be based on merit to ensure that right and qualified people manage the enterprise. The study also highlighted areas of future research following the limitations faced by the current study.|
|Appears in Collections:||Department of Business Management|
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