SUCCESSION PLANNING AND FAMILY BUSINESS CONTINUITY IN EBONYI STATE: A STUDY OF SOME SELECTED FAMILY BUSINESSES. Dr. AMA A. UDU; KELVIN IGBOKE Department of Business Management, Ebonyi State University Telephone: +2348035486420 Email: uduama@yahoo.com ABSTRACT This paper aimed at determining the relationship between succession planning and family business continuity. This was achieved by pairing each of the variables of succession planning (family cohesion; family values and beliefs and preparation levels of the successors) against corresponding variables of family business continuity (communication; innovativeness and commitment of the successors toward the family business). The paper was hinged on Scharmer�s U theory; which dealt with some business operators� state of dilemma, blindness and inability to adapt to transformational change. A convenience and snowball sampling techniques were adopted and used to ascertain as many family businesses as possible operating within the study area. Primary data were gathered using structured questionnaire. Pearson�s Moment Correlation was used to analyze the data. The paper found a positive significant relationship between family cohesion and communication at significant level of r = 0.591; P<0.01; family values and belief and innovativeness at significant level of r = 0.611; p< 0.01; and preparation level of the successors and commitment at significant level of r = 0.569; p <0.01; in the family business within Ebonyi state. These findings are consistent with the results of earlier researchers; with the implication that the adoption of succession planning leads to perpetuity of the family businesses in Ebonyi state. Key Words: Succession, continuity, cohesion, values, innovativeness

Username
Password