Succession Planning and Gender Conflicting Issues in Nigerian Family Business Setting

Abstract

This research examined how succession and gender issues in the family business could hinder the prosperity of such venture. Given the sociocultural phenomenon of hierarchy whilst considering the roles and aspirations of female based genders in family owned businesses in Nigeria, this research empirically examines the succession planning as well as the social acceptance of career minded female entrepreneurs in assuming leadership positions and management of their family owned businesses. The sample for this research consisted of fifty-six (56) female family members of business owners who had taken over the management of their families businesses. The respondents were contacted through various women’s business associations. Women in these organizations were randomly selected and provide with information on the research objective and asked to participate in an in-depth interview session. Structured questionnaires were developed by examining the literature on the succession process and gender bias. The questionnaires were adapted from Perret (2016), Gberevbie et al., (2014) as well as Spillan and Parnell (2006). Qualitative survey research method was employed in this research and the collected data were analyzed using structural equation modelling. The findings revealed that gender discrimination has no significant effect on performance of family business. On the contrary, Succession Planning (SP) has positive and significant effect on the performance of family business. The study therefore suggested that family business owners should have a mapped strategy of succession planning to guarantee sustainability and attainment of strategic goals that may help boost performance. Hence, this research provides practical solutions on sustainable family business model through effective succession plan whilst examining gender based impact on family business performance.

Key Words: Family owned business, succession, gender discrimination, culture limitations, female entrepreneurs, national development