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1 – 10 of over 10000Succession planning concerns the selection of talented employees to replace senior managers who leave the firm because of retirement, reassignment, or other reasons. Effective…
Abstract
Succession planning concerns the selection of talented employees to replace senior managers who leave the firm because of retirement, reassignment, or other reasons. Effective succession planning emphasizes minimizing disruption and dislocation arising from such personnel changes, with a view to implementing business strategy and achieving organizational goals in a smooth and continuous manner. Although succession planning is an essential requirement for the long‐term development and success of business enterprises, previous studies have rarely investigated the empirical relationship between succession programs and human resource outcomes. This study employs empirical data collected from business firms in Taiwan to address that question.
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It has been widely projected in the library literature that a substantial number of librarians will retire in the near future leaving significant gaps in the workforce, especially…
Abstract
It has been widely projected in the library literature that a substantial number of librarians will retire in the near future leaving significant gaps in the workforce, especially in library leadership. Many of those concerned with organizational development in libraries have promoted succession planning as an essential tool for addressing this much-anticipated wave of retirements. The purpose of this chapter is to argue that succession planning is the wrong approach for academic libraries. This chapter provides a review of the library literature on succession planning, as well as studies analyzing position announcements in librarianship which provide evidence as to the extent to which academic librarianship has changed in recent years. In a review of the library literature, the author found no sound explanation of why succession planning is an appropriate method for filling anticipated vacancies and no substantive evidence that succession planning programs in libraries are successful. Rather than filling anticipated vacancies with librarians prepared to fill specific positions by means of a succession planning program, the author recommends that academic library leaders should focus on the continual evaluation of current library needs and future library goals, and treat each vacancy as an opportunity to create a new position that will best satisfy the strategic goals of the library. In contrast to the nearly universal support for succession planning found in the library literature, this chapter offers a different point of view.
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Gihani S. Rajapakse and K. Kiran
The purpose of this paper is to explore succession planning in academic libraries, specifically to understand how succession planning is carried out and how the decisions-making…
Abstract
Purpose
The purpose of this paper is to explore succession planning in academic libraries, specifically to understand how succession planning is carried out and how the decisions-making styles of library managers influence each stage of the succession planning.
Design/methodology/approach
A qualitative approach was used to gather data through a document analysis and interviews with library managers at four Sri Lankan university libraries. Data analysis was done applying the framework analysis (FA) tool.
Findings
The study revealed that succession planning has been practiced in Sri Lankan university libraries to develop a bench strength, skilled backup for key positions at all levels, while inculcating leadership competencies in their respective positions. The dominant decision style is the identifiable decision-making style within the succession planning process.
Research limitations/implications
The volume of the data obtained depends largely on the participants’ responses, and the interpretation of the data is subjected to minimum personal biasness of the researcher.
Practical implications
An understanding of how decision-making styles influence practices of succession planning contributes to assist library managers to carry out succession planning within the limitations of their autonomy to do so. The findings of this study benefit library managers in recognizing their own decision-making styles and the level of succession planning they have achieved.
Social implications
Library managers’ decision-making style can have an influence on how succession planning is carried out successfully at an academic library to ensure continuity of the library’s mission and vision.
Originality/value
This is the first known study to investigate how decision-making style of the manager influences each level of the succession planning at an academic library. The use of a systematic FA method for the qualitative data analysis reveals trustworthy results.
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George Mihaylov and Ralf Zurbruegg
This article examines the relationship between financial risk management and succession planning in family businesses. Motivated by the Theory of Planned Behaviour, we hypothesize…
Abstract
Purpose
This article examines the relationship between financial risk management and succession planning in family businesses. Motivated by the Theory of Planned Behaviour, we hypothesize that the use of professional risk management practices is associated with an increased likelihood that businesses adopt professionalized approaches to succession planning. We then investigate if succession planning professionalization is, in turn, positively related to the financial performance of family businesses.
Design/methodology/approach
We apply binary probit and ordered dependent variable regressions to unique data generated from a survey sample of Australian family businesses. To check the robustness of our results to potential endogeneity concerns we apply difference tests to propensity score matched sub-samples from our original cohort of respondents.
Findings
The results show that, in contrast to verbal or absent succession arrangements, formal written succession plans are both positively associated with the use of financial risk management practices and with superior financial performance in family businesses.
Originality/value
Our arguments and findings suggest that active financial risk management provides a platform for planning succession in family businesses, and that this links with improved short-term financial performance. In light of the critical role that succession plays in ensuring long-term business sustainability, our findings provide important and novel insights into the conditions under which family businesses are most likely to use formal professionalized succession planning.
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Cláudia Matias and Mário Franco
The main objective of this study is to understand the role that family council and protocol can have in the planning process of family companies.
Abstract
Purpose
The main objective of this study is to understand the role that family council and protocol can have in the planning process of family companies.
Design/methodology/approach
To reach this general objective, the qualitative approach was used using multiple case studies: seven Portuguese family companies. Data collection techniques, interviewing, direct observation and documentary analysis were used.
Findings
Based on the empirical evidence, it is concluded that the family council and family protocol help succession planning and favour the continuity and survival of the family business. However, other working groups also support the entire planning process, such as the cousin generation meeting and the New Generation Monitoring Committee (or Mentoring Committee). The development of future personal plans for the younger generations may lie in this Committee, which assists and guides the younger family members.
Practical implications
This study is pioneering in Portugal because it analyses the use of new instruments that helps the succession planning process in family firm context: the family council and family protocol. These managerial mechanisms allow to achieve the success, allowing family conflicts to be minimized, the continuity of family firms and avoiding their mortality.
Originality/value
The study contributes to increasing knowledge about the family council, the family protocol, family firm succession and its planning. It is important and innovative by studying those topics in depth, their connection being little explored in the literature. This study can be seen as a benchmarking for governance practices in other countries.
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Rose Haynes Kiwia, Kenneth M.K. Bengesi and Daniel W. Ndyetabula
The purpose of this paper is to examine succession planning and performance of family-owned small and medium enterprises (SMEs).
Abstract
Purpose
The purpose of this paper is to examine succession planning and performance of family-owned small and medium enterprises (SMEs).
Design/methodology/approach
The quantitative research approach and a cross-sectional research design were employed. The probability sampling technique was used to draw 219 respondents from the sampling frame. A structured questionnaire was used for data collection. Descriptive statistics and independent samples t-tests were used for data analysis.
Findings
It was revealed that most of family-owned SMEs founders in the study area had mechanisms for succession planning for their businesses. Also, there is a difference in business performance when successors are selected and prepared by business founders compared to when they are selected and prepared by other family members. Successors selected and prepared by business founders performed better in business than successors who were selected and prepared by other family members.
Research limitations/implications
This study employed a quantitative research paradigm methodology, which limits deep discussion with respondents. Future studies could consider using a qualitative research paradigm methodology.
Originality/value
The paper presents succession planning process experience in family-owned SMEs in the study area, specifically the existence of succession planning in family-owned SMEs. It also shows a difference in business performance between the two investigated groups. This paper will benefit business founders, family business successors and researchers.
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Arpan Upadhyaya and Sunaina Kuknor
The paper examines the succession management strategies and the preparation level of heirs in the context of family-owned educational institutions in Nepal.
Abstract
Purpose
The paper examines the succession management strategies and the preparation level of heirs in the context of family-owned educational institutions in Nepal.
Design/methodology/approach
Sixteen in-depth, semi-structured interviews with the institution's leader were conducted. Each interview was transcribed using content analysis. Several themes and new items emerged that define the institutional strategies in succession management.
Findings
The paper provides insight into the challenges of implementing effective succession management strategies. The identified themes are traits, processes, challenging aspects and effective plans. The study's findings show the lack of awareness about the importance of succession planning among the institution owners due to the availability of limited resources. The paper also provides some insights into how family ownership and management are done and the lack of formal processes in succession management strategies.
Practical implications
This paper offers readers the chance to think about succession planning strategies. Also, it adds value in their critical analysis of the succession plan. The study advised the learners to consider additional elements that can impact succession planning, such as experience, educational requirements and their desire to work. It will aid researchers in considering the societal perspective of the successor, which is also a significant worry.
Originality/value
It focuses on a specific context, private schools in Nepal, and examines the challenges they face in implementing succession management strategies. The paper tries to identify the approach that may reveal potential solutions that have not been considered. The paper aims to clearly articulate the unique contributions of the study and explain how it advances the existing literature on succession management.
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Nazia Keerio and Abd Rahman Ahmad
Succession planning is an emerging area for research in higher education institutions worldwide; however, literature is scarce in the context of developing countries like…
Abstract
Purpose
Succession planning is an emerging area for research in higher education institutions worldwide; however, literature is scarce in the context of developing countries like Malaysia. The factors that have an influence on the execution of succession planning in public universities are the primary goal that has been set for achieving the study's goal. Moreover, the development of leadership in institutions has been taken by adopting formal succession planning. This study aims to be explore the factors that can contribute to the successful execution of the plan, particularly in higher education institutions in Malaysia.
Design/methodology/approach
The study employed the qualitative approach. The registrars have been selected by using purposive sampling technique for face-to-face interviews from five public research universities of Malaysia. The in-depth data can be collected at research universities as they are old and comprehensive universities of Malaysia. The data were analysed through thematic analysis.
Findings
The number of factors that have been revealed through the findings are as follows: organisational culture, the support of top-level management, the strategic plan, the reward, the champion from top-level management and the budget. Further, the public universities of Malaysia required ensuring that all employees were aware of succession plan initiatives taken by institutions, although the system was challenged by not taking these factors into account.
Originality/value
The primary data have been collected to provide the insight regarding opportunities and challenges encountered in the implementation of succession planning in Malaysian public universities.
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Nupur Pavan Bang, Andrea Calabrò and Alfredo Valentino
The complexity of succession in family firms is multifaceted and can sometimes lead to turbulence. While structured succession strategies offer a roadmap for smoother transitions…
Abstract
Purpose
The complexity of succession in family firms is multifaceted and can sometimes lead to turbulence. While structured succession strategies offer a roadmap for smoother transitions, intergenerational differences in family small and medium-sized enterprises (SMEs) can lead to varied interpretations of an effective succession blueprint. This study synergizes the strategic entrepreneurship framework with the socioemotional wealth (SEW) perspective to probe into how formalized succession planning impacts performance in family SMEs. Furthermore, it delves into the mediating role of succession satisfaction, especially in family firms characterized by pronounced SEW and helmed by CEOs from different generational cohorts.
Design/methodology/approach
Employing a comprehensive dataset from 1,833 global family businesses, this research utilizes bootstrapping regression models to discern the intertwined effects of mediator and moderator variables and their statistical significance.
Findings
The main findings suggest that succession satisfaction does matter for a good succession process and that succession plans work only in family firms with a high degree of SEW and that are led by older family CEOs (e.g. baby boomers).
Practical implications
The results offer fresh perspectives on succession processes, with a particular focus on how to improve the satisfaction of millennial family CEOs.
Originality/value
The study uniquely combines strategic entrepreneurship and SEW to offer a holistic view of succession planning, highlighting satisfaction’s mediating role and SEW’s moderating influence. Additionally, it pioneers the incorporation of generational cohorts into the succession discourse.
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The aim of this research is to analyze empirical evidence of the effect of governance structure (GS) on perceived success of the succession process. It is also reported that in…
Abstract
Purpose
The aim of this research is to analyze empirical evidence of the effect of governance structure (GS) on perceived success of the succession process. It is also reported that in India, family firms have a more informal organization structure and governance and have an informal and unplanned approach to bringing the successors into family business. Previous studies have reported that GS is an important factor for a successful succession process. This study examines the role of management succession planning as an intervening variable to achieve perceived success of the succession process.
Design/methodology/approach
Data have been collected using a questionnaire schedule with 113 respondents who are successors from family business firms in Kerala, India. The study uses snowball sampling technique. Partial least square-structural equation modeling has been used to do data analysis.
Findings
The results of the study showed that GS has a significant positive effect on the success of the succession process. GS has a significant positive effect on management succession planning. Management succession planning partially mediates the relationship between GS and perceived success of the succession process.
Research limitations/implications
The results of the study indicate the effect of GS on the relationship between, perceived success of the succession process and management succession planning. The mediating role of management succession planning in the above relationship is also confirmed. Therefore, before starting the succession process a good GS should be put in place for ensuring the success of the succession process. Family firms must implement the succession plan well to make the succession process successful.
Originality/value
The main contribution of the study is to empirically investigate the effect of GS and management succession planning to enhance the success of the succession process.
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