期刊名称：International Journal of Computer Science and Management Studies
电子版ISSN：2231-5268
出版年度：2013
卷号：13
期号：8
出版社：Imperial Foundation
摘要：Succession planning is a major problem within small and family owned businesses. A peep into the literature clearly shows that most of these businesses are run by their founders or by a small management team and very few such organisations have in place a proper succession planning. The lack of proper succession planning can have the direct effect of causing the collapse of these businesses especially when key players leave the business upon retirement or in pursuit of other options. The departure of a key stakeholder can make such a business susceptible and lessen its worth as investors will not invest in a business that is not sustainable. Therefore, it becomes imperative for the business to establish a succession strategy so as to avoid any unpleasant situation in future. In this study a survey has been conducted among the employees at different levels in an organisation to capture their opinion towards the succession plan in their organisation. For this purpose 10 characteristics of succession planning strategy were identified of which 10 questions were constructed. The responses of 50 respondents at different levels of hierarchy in the organisation were collected on a scale of 1 to 5. The study found that there was significant difference in the perception of employees at different levels. The findings also suggest that most stakeholders agreed that good succession planning can add value to organisation and help them becoming more sustainable. The conclusion from this study served can be considered as a wakeup call towards making small business houses more aware about the succession planning.
