Challenges faced by family-owned education institutions in Nepal in implementing effective succession planning strategies

Abstract

PurposeThe paper examines the succession management strategies and the preparation level of heirs in the context of family-owned educational institutions in Nepal.Design/methodology/approachSixteen 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.FindingsThe 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 implicationsThis 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/valueIt 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.