An Examination of Succession Planning Strategies for Business Continuity: A Case Study of Family-Owned Businesses in Yobe State
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- NGN 5000
Background of the Study
Succession planning is a critical element of business continuity, particularly for family-owned businesses, which constitute a significant portion of enterprises worldwide (Ward, 2023). In Yobe State, family-owned businesses play a vital role in the local economy, contributing to job creation and wealth generation. However, the sustainability of these businesses often hinges on effective succession planning to ensure leadership transitions and organizational stability.
Despite its importance, many family-owned businesses in Yobe State lack structured succession plans, leading to disruptions, conflicts, and eventual decline during generational transitions (Ahmed et al., 2024). Addressing these challenges is essential for preserving family legacies and promoting economic resilience.
This study examines the succession planning strategies employed by family-owned businesses in Yobe State, with a focus on their effectiveness in ensuring business continuity.
Statement of the Problem
The absence of effective succession planning in family-owned businesses in Yobe State has resulted in leadership crises, operational inefficiencies, and business closures. Issues such as lack of preparedness, inadequate training for successors, and family conflicts exacerbate the problem (Mustapha & Suleiman, 2025).
While succession planning has been widely studied, limited attention has been given to its role in the continuity of family-owned businesses in Yobe State. This study seeks to fill this gap by providing insights into the strategies and challenges associated with succession planning in the region.
Objectives of the Study
- To identify succession planning strategies used by family-owned businesses in Yobe State.
- To assess the effectiveness of these strategies in ensuring business continuity.
- To explore the challenges faced in implementing succession plans.
Research Questions
- What succession planning strategies are used by family-owned businesses in Yobe State?
- How effective are these strategies in ensuring business continuity?
- What challenges hinder the successful implementation of succession plans?
Research Hypotheses
- Succession planning strategies significantly influence business continuity in family-owned businesses.
- Effective succession planning positively impacts organizational stability and performance.
- Challenges in succession planning significantly affect the sustainability of family-owned businesses.
Scope and Limitations of the Study
The study focuses on family-owned businesses in Yobe State, analyzing succession planning strategies from 2023 to 2025. It excludes non-family-owned businesses and other states. Limitations include potential reluctance to discuss sensitive family business issues and variations in the size and structure of businesses.
Definitions of Terms
- Succession Planning: The process of identifying and preparing individuals to assume leadership roles in an organization.
- Business Continuity: The ability of a business to maintain operations and profitability over time.
- Family-Owned Businesses: Enterprises that are primarily owned and managed by family members.
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