Abstract
Many prominent and even internationally acclaimed business organizations have gone into extinction due to succession management challenges, notwithstanding their richly endowed financial and material resources. Succession management ensures seamless transition of managerial decision making of a firm to the next generation when the owner is no longer part of the business. The study investigated the effect of succession management on sustainability of Small and Medium Scale Enterprises (SMEs) in South East, Nigeria. However, the specific objectives were to ascertain the effect of competitive intelligence on the growth of SMEs; and to determine the effect of technological advancements on competitive advantage of SMEs in South East Nigeria. The study is anchored on Elgar’s Performance Theory of organization and the Resource Based Firm theory which emphasizes that the physical, organizational strategies, financial and human resources have the potential to provide firms with sustainable competitive advantage. The study adopted the survey research method, making use of structured questionnaire as instruments for data collection. Data were collected from primary and secondary sources. Hypotheses were tested using Pearson Product Moment Correlation Coefficient and the simple linear regression. It was found that succession management through well-conceived competitive intelligence positively affected the growth of SMEs; technological advancements positively affected competitive advantage of SMEs. It was, therefore, concluded that succession management through competitive intelligence and technological advancement positively affected the sustainability of SMEs through firm growth and competitive advantage. The study recommended that for SMEs to be sustained and enhance its operational life span, effective succession management should be adopted growth and competitive advantage. The study recommended that for SMEs to be sustained and enhance its operational life span, effective succession management should be adopted.
 
 JEL: B10; A02; C06
 
 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0851/a.php" alt="Hit counter" /></p>
Highlights
With the global propagation of Small and Medium-sized Enterprises (SME’s), issues of business succession management and continuity have become increasingly common. Alstete (2014) notes that small-business owners are entrepreneurs who conceive, launch, and undertake the risk for new economic activities in the form of a business venture
Akbar, and Dalziel (2011) note that small and medium scale enterprises are as old as the tradition of barter and trade
It is on the basis of these that the study is set to investigate the effect of business succession management on sustainability of Small and Medium Scale Enterprises (SMEs) in South East Nigeria
Summary
With the global propagation of Small and Medium-sized Enterprises (SME’s), issues of business succession management and continuity have become increasingly common. Alstete (2014) notes that small-business owners are entrepreneurs who conceive, launch, and undertake the risk for new economic activities in the form of a business venture. With the global propagation of Small and Medium-sized Enterprises (SME’s), issues of business succession management and continuity have become increasingly common. Alstete (2014) notes that small-business owners are entrepreneurs who conceive, launch, and undertake the risk for new economic activities in the form of a business venture. Small and medium scale business owners account for a significant portion of job creation globally that fuels the economy, yet are failing at alarming rates (Artinger & Powell, 2015). Small and Medium Scale Enterprises (SMEs) remain an important sub-sector in the nation’s economy. Since early 1990’s, succession management policies of SMEs through competitive intelligence and application of technological advancements have attracted attention due to its importance as a mean to enhance performance, growth and productivity of firms (Ediagbonya, 2013). SME is one of the indices of measuring economic development, and as such, the establishment and proper management of SMEs have a positive effect on the nation’s economic development
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
