Papers by Komborerai Masango
The purpose of this study was to evaluate the role of succession planning on the survival of fami... more The purpose of this study was to evaluate the role of succession planning on the survival of family businesses in Zimbabwe. examining how succession planning was conducted in a family business set up, examining the relationship between the components of succession planning on survival of family businesses, investigating why a formally written and The study was guided by the following research objectives;structured succession plan was not conducted in family businesses and assessing the risk involved of not undertaking a formally written succession plan.
To achieve these objectives, literature review in the area of study was done to give a wider perspective on the issue. According to Walsh (2011) the major issue in a family business setup is how the family component is managed when conducting family business succession. Thus managing this component determines the success rate of the succession planning process. It is the failure of managing the family component that leads to the succession paradox of the “do nothing approach” by family business owners. Hence forth it is estimated that less than one-third of family firms survive into the second generation and only 13 percent survive through the third generation (Beckhard & Dyer, 1983; Heck and Trent, 1999; Ward, 1987).
A survey study was also done using a sample population of 144 registered family businesses in Zimbabwe. , correlation, factor analysis and regression approaches. Findings revealed that there was a significant positive relationship between the study variables; succession and survival of family businesses. Results showed that succession planning predicted 54% of the variance in survival of family businesses (Adjusted R Square = .54). The remaining 46% was predicted by other factors outside the study (Sharma et al, 1997).The sample was purposively selected from each family business. The research design involved descriptive
It was recommended that family businesses should ensure that there is proper succession planning processes if the survival of such firms is to be achieved. Family firms should carry out appropriate mentoring of successors and knowledge sharing among the family members as well as employees of the firm. Thus all parties involved must communicate rationally and objectively, the communication must be consistent with implemented strategies to obtain buy-in from the all parties involved especially the family (managing the family component).
x Dissertation Release Form I certify that the following student………………………………………………………………… Student... more x Dissertation Release Form I certify that the following student………………………………………………………………… Student Number………………………………………………………..was under my supervision.
Uploads
Papers by Komborerai Masango
To achieve these objectives, literature review in the area of study was done to give a wider perspective on the issue. According to Walsh (2011) the major issue in a family business setup is how the family component is managed when conducting family business succession. Thus managing this component determines the success rate of the succession planning process. It is the failure of managing the family component that leads to the succession paradox of the “do nothing approach” by family business owners. Hence forth it is estimated that less than one-third of family firms survive into the second generation and only 13 percent survive through the third generation (Beckhard & Dyer, 1983; Heck and Trent, 1999; Ward, 1987).
A survey study was also done using a sample population of 144 registered family businesses in Zimbabwe. , correlation, factor analysis and regression approaches. Findings revealed that there was a significant positive relationship between the study variables; succession and survival of family businesses. Results showed that succession planning predicted 54% of the variance in survival of family businesses (Adjusted R Square = .54). The remaining 46% was predicted by other factors outside the study (Sharma et al, 1997).The sample was purposively selected from each family business. The research design involved descriptive
It was recommended that family businesses should ensure that there is proper succession planning processes if the survival of such firms is to be achieved. Family firms should carry out appropriate mentoring of successors and knowledge sharing among the family members as well as employees of the firm. Thus all parties involved must communicate rationally and objectively, the communication must be consistent with implemented strategies to obtain buy-in from the all parties involved especially the family (managing the family component).
To achieve these objectives, literature review in the area of study was done to give a wider perspective on the issue. According to Walsh (2011) the major issue in a family business setup is how the family component is managed when conducting family business succession. Thus managing this component determines the success rate of the succession planning process. It is the failure of managing the family component that leads to the succession paradox of the “do nothing approach” by family business owners. Hence forth it is estimated that less than one-third of family firms survive into the second generation and only 13 percent survive through the third generation (Beckhard & Dyer, 1983; Heck and Trent, 1999; Ward, 1987).
A survey study was also done using a sample population of 144 registered family businesses in Zimbabwe. , correlation, factor analysis and regression approaches. Findings revealed that there was a significant positive relationship between the study variables; succession and survival of family businesses. Results showed that succession planning predicted 54% of the variance in survival of family businesses (Adjusted R Square = .54). The remaining 46% was predicted by other factors outside the study (Sharma et al, 1997).The sample was purposively selected from each family business. The research design involved descriptive
It was recommended that family businesses should ensure that there is proper succession planning processes if the survival of such firms is to be achieved. Family firms should carry out appropriate mentoring of successors and knowledge sharing among the family members as well as employees of the firm. Thus all parties involved must communicate rationally and objectively, the communication must be consistent with implemented strategies to obtain buy-in from the all parties involved especially the family (managing the family component).