Home
/
Business administration and management
/
Succession planning in small and medium scale enterprises’ (smes) sustainability in uyo municipality, akwa ibom state
Succession planning in small and medium scale enterprises’ (smes) sustainability in uyo municipality, akwa ibom state
Table Of Contents
- Title page Declaration – – – – – – – iiCertification – – – – – – – iiiDedication – – – – – – – ivAcknowledgements – – – – – – vAbstract – – – – – – – viTable of Contents – – – – – – viiList of tables – – – – – – viiiCHAPTER ONE: INTRODUCITON1.1 Background of the Study – – – – –
- 11.2 Statement of the Problem – – – – –
- 31.3 Objectives of the Study – – – – –
- 51.4 Research Questions – – – – – –
- 51.5 Hypothesis of the study – – – – –
- 61.6 Significance of the Study – – – – –
- 61.7 Scope and Limitations of the Study – – – –
- 71.8 Operational Definition of Terms – – – –
- 71.9 Organization of the Study – – – – – 8CHAPTER TWO: REVIEW OF RELATED LITERATURE2.1 Conceptual Framework – – – – – 9 2.
- 1.1 Scope of Small and Medium ScaleEnterprises (SMEs)- – – – – – 152.
- 1.2 Problems Associated with SMEs – – – – 162.
- 1.3 The Role of SMEs in the Growth of theNigerian Economy – – – – – 192.
- 1.4 Significance of the SMEs Sub-sector in theNigerian Economy – – – – – 212.
- 1.5 Succession Planning – – – – – – 242.
- 1.6 Job Rotation – – – – – – – 302.
- 1.7 Benefits of Job Rotation- – – – – 342.
- 1.8 Mentoring – – – – – – –
- 382.2 Some Theories of Entrepreneurship – – – 412.
- 2.1 Max Webber’s Theory – – – – – 412.
- 2.2 Schumpeterian Theory of Entrepreneurship – – – 422.
- 2.3 Everett Hagan’s Theory – – – –
- 442.3 Empirical Framework – – – – 45CHAPTER THREE: RESEARCH METHOD3.1 Research Design – – – –
- 493.2 Population of the study – – – – –
- 493.3 Determination of Sample Size – – –
- 503.4 Sampling Technique- – – – – –
- 513.5 Sources of Data – – – – –
- 513.6 Research Instrument – – – – –
- 523.7 Validity Test of the Research Instrument – –
- 523.8 Reliability Test of the Research Instrument – –
- 523.9 Administration of the Instrument – – –
- 533.10 Scoring the Instrument – – – –
- 533.11 Method of Date Analysis – – – – 54CHAPTER FOUR: DATA PRESENTATION,ANALYSIS AND DISCUSSION OF FINDINGS4.1 Presentation of Data – – – –
- 554.2 Testing of Hypotheses – – – – – 594.
- 2.1 Hypothesis One `- – – – – 594.
- 2.2 Hypothesis Two — – – – – – 614.
- 2.3 Hypothesis Three – – – – – –
- 624.3 Discussion of Findings – – – – – 64CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSIONAND RECOMMENDATIONS5.1 Summary of Findings – – – – –
- 665.2 Conclusion – – – – – –
- 675.3 Recommendations – – – – –68 References – – – – – – 69 Appendices – – – – – 75LIST OF TABLESTable 3.1: Distribution of staff population according to organizations – – – – – – 50Table 3.2: Distribution of staff sample according to organizations – – – – – 51Table: 4.1: Number of questionnaires administered and returned – – – – – 55 Table 4.2: Sex distribution of the respondents – – 55 Table 4.3: Age distribution of the respondents – – 56Table 4.4: Respondents’ Working Experience – – 56Table 4.5: Percentage analysis of the responses to job rotation dimensions – – – – 57Table 4.6: Percentage analysis of the responses to mentoring dimensions – – – – 58Table 4.7: Percentage analysis of the responses to sustainability of SMEs questions – – – 59 Table 4.8: Regression analysis result on mentoring and sustainability of SMEs – – – – 60Table 4.9: Regression analysis result on job rotation and sustainability of SMEs – – – – 61Table 4.10: Regression Analysis for Joint Effect of mentoring, Job rotation and SMEs sustainability- 63
Thesis Abstract
This study,
Succession Planning and SMEs Sustainability in Uyo Municipality of Akwa
Ibom State, was designed to
underscore the relationship between succession planning and SMEs
sustainability. Specifically,
the study is designed to establish the relationship between mentoring and the
sustainability of the SMEs in Uyo municipality; assess the relationship between
job rotation and the sustainability of SMEs in Uyo municipality; and determine
the joint relationship between mentoring, job rotation and the sustainability
of SMEs in Uyo municipality. The survey research design was adopted in this
study. The population for this study was made up 102 staff. They
consisted of all senior staffers of the selected SMEs in the service industry. Descriptive and inferential statistics
was used in analyzing the data of the study. Findings from the results of
analysis indicates that both proxies for succession plan (i.e. mentoring and
job rotation) have significant relationship with SMEs sustainability in Uyo
Municipality, Akwa Ibom State.
The multiple regression analysis also reveals that, jointly they significantly
predict SMEs sustainability in Uyo Municipality, Akwa Ibom State. Based on the findings of this study,
it was concluded that succession plan significantly affect
sustainability of SMEs. Consequently,
it was recommended that SMEs owners should put in place mentorship
programmes to aid the sustainability of the enterprise; and that management of
SMEs should practice the concept of job rotation by moving employees from one
job to the other or from one unit/department to another as this will give them
all-round knowledge of how the organization works.
Thesis Overview
<p> <b><b><b></b></b></b></p><p><b><b><b><b> INTRODUCTION</b></b></b></b></p><p><b><b> In modern day’s businesses,<br>succession planning is used as a proactive attempt in ensuring a smooth<br>transition of business from owner to a successor through effective manpower<br>training. It involves formulating a forward looking plan to ensure the<br>necessary human effort to make it possible for the survival and growth of the organization.<br>Thus, lack of proper succession planning can have the direct effect of causing<br>the collapse of these businesses especially when owners leave the business upon<br>retirement or by death.</b></b></p><p><b><b>Ayyagari,<br>Beck and Demirguc-Kunt (2007) opine that businesses that continue to succeed<br>despite the departure of strategic leaders are those that prepare in advance.<br>They have key players in place and they have implemented well-defined,<br>comprehensive development programs, formal management training programs, and<br>succession plans. Developing a comprehensive, long-term succession plan is a<br>critical element for survival of the small scale enterprises. Having the best<br>people in pivotal leadership roles, prepared to step in at any time, is<br>essential for future success. </b></b></p><p><b><b>Succession planning can be<br>defined as the process of identifying and preparing suitable employees through<br>mentoring, training and job rotation, to replace key players within an<br>organization. Those key players sometimes leave their positions for whatever<br>reasons such as retirement, advancement and attrition (Rodrigo, 2013). Small<br>and Medium scale Enterprises (SMEs) is a component of entrepreneurship<br>development and important aspect of economic development and economic<br>transformation offering jobs and creating wealth for families and other people<br>working in SMEs (Ward, 2003). Today’s<br>organizations are facing higher demands in a global market owing to widening<br>talent gap. One of the major concern that every SMEs owner face is how to<br>effect an orderly and affordable succession of the business while ensuring that<br>the business will provide for the future needs of the owner and his or her<br>family and keep them comfortable during their retirement years (Rodrigo, 2013).<br>While 74% of individually owned companies are investing in a formalized<br>succession planning process, companies still struggle to fill talent pipelines.<br>In an ideal world, individual owned companies endeavour to “grow leaders”<br>within their own organization, ensuring that there is continuity for the future<br>of their leadership and reducing turnover (Miller, 2012). </b></b></p><p><b><b> In the Nigerian context, SMEs are renowned for<br>their entrepreneurial and innovative spirit and are a key driver for the<br>Nigerian economy. Individually-owned companies face unique challenges in<br>Nigeria’s very turbulent business environment. The issues gravitate around<br>ownership and rewards, communication, conflict, pay and benefits, engagement of<br>individual members and succession planning (Weweru, Bjuggren and Sund, 2001).</b></b></p><p><b><b> Succession planning is a key element of an<br>effective strategy for managing talent and ensuring that an organization<br>achieves its future goals. In Nigeria, it is alleged that succession planning<br>in the public sector has been more formalized than in the private sector.<br>Similarly, there has been a lack of focus on succession planning in non-profit<br>organizations, although the need there is just as pressing (Murangiri,<br>2011). </b></b></p><p><b><b>Succession<br>planning is an activity that most organizations, especially SMEs, would be<br>quick to say is in place. Unfortunately, it is widely known that succession<br>planning efforts are all too often underdeveloped, unevenly executed, and<br>sometimes simply ignored (Miles and Dysart, 2007). SMEs exist on a global<br>scale. In Nigeria alone, eighty to ninety percent of all business enterprises<br>are individually owned (Weweru, Bjuggren and Sund 2001). The perpetuity problem<br>with the individually owned businesses may be attributed to the lack of<br>strategic succession planning. <b></b></b></b></p><b><b><b><p>Currently,<br>there are a few individually owned businesses in Nigeria that have survived to<br>the third and fourth generation. The literature on SMEs suggest that there are<br>a number of SMEs that fail in transitioning from the first generation to the<br>second generations. SMEs lack a practical understanding of succession planning<br>resulting in the implementation of weak succession plans. A study on succession<br>in the individual firm indicates that when members work together, emotions may<br>interfere with business decisions.</p><p>Small and<br>medium scales enterprises occupy an important place in any economy. The rate of<br>failure of small and medium scale enterprises in the Nigerian economy has been<br>of great concern to all and sundry. One of the reasons for the failure of small<br>and medium scale enterprises in Uyo municipality is the lack of succession<br>planning. Despite the role of the small and medium scale enterprises as a<br>catalyst for economic growth and development, it is discovered that when<br>owners/managers of these businesses died, less than one-third of the business<br>are able to continue to the next generation. In light of this, planning for a<br>successful succession is a crucial goal for every small and medium scale<br>enterprises, this is because without it, the firm cannot survive let alone<br>sustain to the next generation.</p><p>It is in<br>this regard that the ultimate objective of the study is to examine succession<br>planning and SMEs sustainability in Uyo Municipality of Akwa Ibom State. </p><p>The main objective of this study is to<br>assess the relationship between succession planning and sustainability of Small<br>and Medium Scale Enterprise (SMEs) in Uyo municipality of Akwa Ibom State.<br>Specific Objectives are to:</p></b></b></b> <br><p></p>Blazingprojects Mobile App
📚 Over 50,000 Research Thesis
📱 100% Offline: No internet needed
📝 Over 98 Departments
🔍 Thesis-to-Journal Publication
🎓 Undergraduate/Postgraduate Thesis
📥 Instant Whatsapp/Email Delivery
Related Research
Dentistry.
4 min read
The Impact of Fluoride Varnish on Caries Prevention in Adults...
This research aims to explore how applying fluoride varnish can help prevent tooth decay, known as caries, in adults. While fluoride varnish has been widely use...
BP
Blazingprojects
Computer Science.
4 min read
Assessing the Impact of Machine Learning-Based Personalization on User Experience in...
This research investigates how using machine learning to personalize online shopping experiences affects how users feel about and interact with e-commerce websi...
BP
Blazingprojects
Computer Engineering.
2 min read
Evaluating the Effectiveness of Edge Computing in Smart City Data Processing...
This research explores how effective edge computing is in processing data within smart cities. Smart cities rely on large amounts of data generated by sensors, ...
BP
Blazingprojects
Computer Education.
4 min read
Impact of Gamified Learning on Computer Programming Skills Development Among High Sc...
This research is focused on understanding how using game-like elements—known as gamified learning—affects high school students' ability to learn and improve...
BP
Blazingprojects
Co-operative economi.
3 min read
Impact of Leadership Styles on Member Engagement in Agricultural Cooperatives...
This research examines how different leadership styles influence how actively members participate and stay committed in agricultural cooperatives. Agricultural ...
BP
Blazingprojects
Civil engineering.
3 min read
Assessing the Impact of Green Infrastructure on Urban Flood Management...
This research focuses on understanding how green infrastructure can help manage and reduce flooding in urban areas. Green infrastructure includes features like ...
BP
Blazingprojects
Chemistry.
3 min read
Assessment of Heavy Metal Contamination in Urban Soil Ecosystems...
This research is about examining how heavy metals such as lead, cadmium, mercury, and arsenic have accumulated in urban soils and assessing the level of contami...
BP
Blazingprojects
Chemistry education.
4 min read
Impact of Inquiry-Based Learning on Undergraduate Chemistry Conceptual Understanding...
This research explores how Inquiry-Based Learning (IBL) affects how well undergraduate students understand key chemistry concepts. Inquiry-Based Learning is an ...
BP
Blazingprojects
Chemical engineering.
2 min read
Evaluating the Efficiency of Solar-Powered Catalytic Reactors for Biodiesel Producti...
This research focuses on evaluating how effectively solar-powered catalytic reactors can be used to produce biodiesel, a renewable fuel made from vegetable oils...
BP
Blazingprojects
