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Passing on the baton

Jocelene Buckman, Paul Jones Orcid Logo, Samuel Buame

Journal of Entrepreneurship in Emerging Economies, Volume: 12, Issue: 2, Pages: 259 - 278

Swansea University Author: Paul Jones Orcid Logo

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DOI (Published version): 10.1108/jeee-11-2018-0124

Abstract

This study creates a connection between entrepreneurial learning and succession planning in family-owned businesses (FOB), and how they work together to improve a firm’s chances of survival beyond the founder within a Ghanaian context. Through a phenomenological study, this work investigates success...

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Published in: Journal of Entrepreneurship in Emerging Economies
ISSN: 2053-4604
Published: UK Emerald 2019
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URI: https://cronfa.swan.ac.uk/Record/cronfa51248
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last_indexed 2019-09-25T20:16:25Z
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spelling 2019-09-25T16:12:12.1642927 v2 51248 2019-07-30 Passing on the baton 21e2660aaa102fe36fc981880dd9e082 0000-0003-0417-9143 Paul Jones Paul Jones true false 2019-07-30 BBU This study creates a connection between entrepreneurial learning and succession planning in family-owned businesses (FOB), and how they work together to improve a firm’s chances of survival beyond the founder within a Ghanaian context. Through a phenomenological study, this work investigates succession planning processes in FOB, with the objective of developing a succession model suitable for the Ghanaian context. Employing a constructivist perspective, six family businesses were studied, interviewing the founder, successor, family members, employees and customers therein. Existing knowledge has been confirmed that succession is not a one-off event, but a process that takes place over time, requiring the buy-in of not just the founder and successor, but also other stakeholders, including the successor’s siblings and spouse (if any), whose support is imperative to the success of the process. This study reviewed and synthesised relevant research data into a conceptual framework. This study can potentially inform the basis of a longitudinal study, using the developed framework to confirm its robustness. It can also inform further quantitative research to validate the generalisability of the framework. The study contributes to FOB practice, the holistic succession model spanning the founder’s entry into the business, to the post-succession period, and incorporating contextual intervening variables such as polygamy, religion and systems of inheritance, while also contributing to theory by proposing a comprehensive succession process theory to enhance understanding of the process. The study contributes increased understanding of the essential elements in the succession process in an African context, what appropriate measures can be implemented for effective succession outcomes, and how key stakeholders of the business can be effectively managed as part of overseeing the succession process for positive organisational outcomes. Journal Article Journal of Entrepreneurship in Emerging Economies 12 2 259 278 Emerald UK 2053-4604 Family; SME; Ghana; Succession 30 8 2019 2019-08-30 10.1108/jeee-11-2018-0124 http://dx.doi.org/10.1108/jeee-11-2018-0124 COLLEGE NANME Business COLLEGE CODE BBU Swansea University 2019-09-25T16:12:12.1642927 2019-07-30T07:59:21.5434574 Jocelene Buckman 1 Paul Jones 0000-0003-0417-9143 2 Samuel Buame 3 51248__14850__941e19339c5a4574b21e5e257c204739.pdf 51248.pdf 2019-08-06T13:10:14.9070000 Output 725374 application/pdf Accepted Manuscript true 2019-09-24T00:00:00.0000000 true eng
title Passing on the baton
spellingShingle Passing on the baton
Paul Jones
title_short Passing on the baton
title_full Passing on the baton
title_fullStr Passing on the baton
title_full_unstemmed Passing on the baton
title_sort Passing on the baton
author_id_str_mv 21e2660aaa102fe36fc981880dd9e082
author_id_fullname_str_mv 21e2660aaa102fe36fc981880dd9e082_***_Paul Jones
author Paul Jones
author2 Jocelene Buckman
Paul Jones
Samuel Buame
format Journal article
container_title Journal of Entrepreneurship in Emerging Economies
container_volume 12
container_issue 2
container_start_page 259
publishDate 2019
institution Swansea University
issn 2053-4604
doi_str_mv 10.1108/jeee-11-2018-0124
publisher Emerald
url http://dx.doi.org/10.1108/jeee-11-2018-0124
document_store_str 1
active_str 0
description This study creates a connection between entrepreneurial learning and succession planning in family-owned businesses (FOB), and how they work together to improve a firm’s chances of survival beyond the founder within a Ghanaian context. Through a phenomenological study, this work investigates succession planning processes in FOB, with the objective of developing a succession model suitable for the Ghanaian context. Employing a constructivist perspective, six family businesses were studied, interviewing the founder, successor, family members, employees and customers therein. Existing knowledge has been confirmed that succession is not a one-off event, but a process that takes place over time, requiring the buy-in of not just the founder and successor, but also other stakeholders, including the successor’s siblings and spouse (if any), whose support is imperative to the success of the process. This study reviewed and synthesised relevant research data into a conceptual framework. This study can potentially inform the basis of a longitudinal study, using the developed framework to confirm its robustness. It can also inform further quantitative research to validate the generalisability of the framework. The study contributes to FOB practice, the holistic succession model spanning the founder’s entry into the business, to the post-succession period, and incorporating contextual intervening variables such as polygamy, religion and systems of inheritance, while also contributing to theory by proposing a comprehensive succession process theory to enhance understanding of the process. The study contributes increased understanding of the essential elements in the succession process in an African context, what appropriate measures can be implemented for effective succession outcomes, and how key stakeholders of the business can be effectively managed as part of overseeing the succession process for positive organisational outcomes.
published_date 2019-08-30T04:03:04Z
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score 11.013619

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