Family business and succession in developing economies: the Nigerian perspective

Akinbami, Catherine Abiola Oluwatoyin; Adejumo, Oluwabunmi O.; Akinyemi, Folashade Oyeyemi; Jiboye, Temitope Favour; Obisanya, Joshua Funminiyi

doi:10.1504/ijesb.2019.102510

Cited by 4 publications

(3 citation statements)

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“…In Nigeria, studies have found that the factors that enhance the post-succession performance of family businesses include the institution of succession planning process and the characteristics of the founders of the family-owned businesses (Agbim, 2019). Founders of family-owned businesses who have sustained and managed businesses beyond the first generation utilised innovative strategies (Akinbami et al ., 2019). It is noteworthy that management style had little impact on family business survival in Nigeria; however, organisational structure and managerial transition have a significant impact on business growth and performance (Asikhia et al ., 2021); the primogeniture inheritance rule and gender-restriction inheritance rule affect the management succession of family-owned businesses: gender restriction accounted for the biggest impact on the management succession of family-owned businesses (Otika et al ., 2019); and leadership roles positively affect the long-run success of family businesses in Nigeria (Abiodun et al ., 2019).…”

Section: Introductionmentioning

confidence: 99%

Leadership transition and survival strategies for family-owned SMEs in an emerging economy

Nwuke

Adeola

2023

JFBM

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PurposeThis study explores the different survival strategies employed by family-owned small and medium-sized businesses in Nigeria. The study delves into the dynamics of ensuring business continuity from founders to successors and identifies the success factors that can facilitate seamless leadership transition outcomes.Design/methodology/approachThis study utilised a qualitative multiple-case study approach, with the population consisting of founders from three medium-sized family businesses in Nigeria. Semi-structured interviews were the primary data collection tool used in the study. Furthermore, company documents were analysed to gain further insights into the leadership transition strategies employed in the selected businesses.FindingsSuccessful transition and survival of family businesses are dependent on the founder's desire and support for transition, successor preparation, building trust and credibility in successors, and instilling a clear vision for the business.Research limitations/implicationsThe study's findings will provide valuable insights to leaders of family-owned SMEs, specifically in the development of effective leadership transition action plans. It should be noted that the study is limited to three family-owned businesses in two locations in Nigeria, which may restrict the generalisability of the findings. Despite this, the study offers novel contributions to the current literature by presenting practical strategies for achieving the survival of family businesses in an emerging economy.Originality/valueThis study proposed strategies for business survival, continuity, sustainability and seamless leadership transition for small and medium-sized family-owned businesses. Importantly, the study recommends action plans for present and prospective family business leaders to deepen succession pathways.

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Section: Introductionmentioning

confidence: 99%

Leadership transition and survival strategies for family-owned SMEs in an emerging economy

Nwuke

Adeola

2023

JFBM

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“…According to Roumboutsos and Pantelias (2015), one of the dimensions of social development has been associated with the fundamentals of infrastructure and revenue streams. However, social entrepreneurship has been associated with social issues and the mitigating factors for solving these issues with the development of community and society which leads to the notion that social entrepreneurship includes the energetic individuals who higher willingness to pursue goals and tolerance for uncertainty due to which the field has been developing fast and maximizing the contribution in both developed and developing countries (Akinbami et al, 2019). Hence, the development of social entrepreneurship might be related to individuals who have the ability to associate fully with social action.…”

Section: Development Of Social Entrepreneurshipmentioning

confidence: 99%

Young students and desire to social entrepreneurship: the impact of government's role

Sukumar¹,

Jafari‐Sadeghi²,

Xu³

et al. 2022

IJESB

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The main aim of the research was intended in assessing the role of the Indonesian government towards the promotion of social entrepreneurship in the country. The research was focused on addressing the level of awareness about the concept of social enterprise and what it means in Indonesia, especially among young students. For achieving this aim, a survey was conducted among students in Jakarta, Indonesia. The survey reflected the assessment of government role in the promotion of social entrepreneurship in Indonesia. The results noted that when it came to social entrepreneurship, it is the government that acts as a vital role in communication what a social enterprise is and its role to the members of the society. From the regression analysis, it was identified that there is a significant relationship between the promotion of social entrepreneurship and the role of the Indonesian government. However, the study also identifies that while the promotion of social enterprise is essential, the role of innovation and its link to the building resilient social enterprises needs more attention.

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“…Fundamentally, this topic focuses on its incidence with unemployment indicators and contribution to a country's economy. It is important to emphasise that this topic is central in the first studies in this line of research and was developed by authors who to this day serve as a reference for new research [5,[116][117][118][119].…”

Section: Content Analysis 421 Research Trendsmentioning

confidence: 99%

Explanatory Factors of Business Failure: Literature Review and Global Trends

2021

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This study aims to provide a bibliometric analysis of business failure research, recognise the main existing research topics and establish future research challenges. The results, based on a sample of 588 articles, show that the number of published papers and citations has grown steadily, especially in the last 14 years. The most productive and relevant journals, countries, institutions and authors are presented using bibliometric performance indicators. In addition, through the graphical mapping of strategic diagrams, this study identifies the most significant research trends and proposes several directions for future research. The results of this research may be helpful for beginner researchers and experts in business failure, as they contribute to bringing clarity to this line of investigation. These results reveal all the aspects involved in business failure research, analysing its temporal and methodological characterisation, and the most prolific authors who have participated in its study (see, i.e., H. Li), leading journals (see, i.e., Expert Systems with Applications) or academic institutions that have headed the scientific analysis of this business phenomenon. Likewise, it has been possible to identify three main areas in which the research on business failure has been focused: business, management and accounting; economics, econometrics and finance; and social sciences. In addition, a complete, synthesised and organised summary of the various definitions, perspectives and research trends are presented.

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Family business and succession in developing economies: the Nigerian perspective

Cited by 4 publications

References 0 publications

Leadership transition and survival strategies for family-owned SMEs in an emerging economy

Leadership transition and survival strategies for family-owned SMEs in an emerging economy

Young students and desire to social entrepreneurship: the impact of government's role

Explanatory Factors of Business Failure: Literature Review and Global Trends

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