Proceedings of 4th European Business Research Conference
9 - 10 April 2015, Imperial College, London, UK, ISBN: 978-1-922069-72-6
Family Business Succession Problems in Nigeria: An Obstacle
to Entrepreneurial Continuity
Odekina Peter Oseni
The study critically examined the succession problems of family business as a major obstacle to their
continuity with particular reference to Nigeria situation. Some selected family business in Lagos State,
Nigeria was assessed to ascertain the extent to which succession problems obstruct or hinder the
continuity of their business. The study also tried to find out the succession problems associated with
family business and the prospects associated with the adoption of succession planning in family
business. The instruments for the data collection used were structured questionnaire and oral
interview. The questionnaire was structured in line with Likert-five point scale and validated using the
face-to-face approach. The instruments were checked for reliability using the pilot survey method. The
data collected from responses to the questions in the questionnaire and structured interview were
analysed using quantitative and qualitative methods. The test of hypotheses was performed using chisquare distribution. It was discovered that gaps in leadership pipeline, difficulty in filling key positions
and inadequate career path were the major succession challenges of family business. It was also
discovered that the internal supply of trained, experienced and motivated talents who could create the
necessary competitive edge and sustain the business through turbulent and uncertain business
environment were the key prospects of succession management. It was recommended that family
business should evolve strategies aimed at identification of where and when leadership pipeline is
running dry, planning and development of management so as not to lack the capability to compete in
the future, and creating changes to refocus the firms position in the market place.
Field of Research: Management (Entrepreneurship)
_________________________________________________________________________________
Odekina Peter Oseni, Department of Business Administration and Management, Federal Polytechnic, PMB
1037 Idah, Kogi State, Nigeria. Email:peterodekina2012@yahoo.com, GSM No:+1248063677160