EXPLORING THE EFFECT OF SUCCESSION PLANNING ON SUSTAINABILITY OF FAMILY-OWNED ENTERPRISES IN BIU, BORNO STATE
Authors
Friday Alapa Inalegwu
Nigerian Army University Biu, Borno State
Author
Mohammed Kuru Ibrahim
Nigerian Army University Biu, Borno State
Author
Keywords:
Succession Planning,
Sustainability,
Family-owned Enterprises,
Training and Development,
Entrepreneurial Orientation
Abstract
This study explores the effect of succession planning on the sustainability of family-owned enterprises in Biu, Borno State. It examines the roles of training and development and entrepreneurial orientation within succession planning. A sample of 372 enterprises was selected from a population of 5,280 registered family-owned businesses, and data were collected through structured survey. SPSS version 23 was used for analysis. Findings reveal a significant positive relationship between succession planning, including training and development and entrepreneurial orientation, and sustainability. The study recommends continuous investment in training, professional development, and innovation.
