Family-owned businesses: towards a model of succession planning in Malaysia

Succession planning for businesses is highly essential. The essence of succession planning is crucial especially among small and medium businesses as they cannot afford to withstand various major setbacks for continuity and sustainability in developing and developed countries alike. Malaysia is not...

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Main Authors:	Abdullah, Moha Asri, Abdul Hamid, Zarinah, Hashim, Junaidah
Format:	Article
Language:	English
Published:	World Business Institute 2011
Subjects:	HF5381 Vocational guidance. Career development
Online Access:	http://irep.iium.edu.my/3244/ http://irep.iium.edu.my/3244/ http://irep.iium.edu.my/3244/1/2011-Family_Owned_Business_Succession-I%27national_Review_of_Business%5B1%5D.pdf

id	iium-3244
recordtype	eprints
spelling	iium-32442013-07-02T01:26:09Z http://irep.iium.edu.my/3244/ Family-owned businesses: towards a model of succession planning in Malaysia Abdullah, Moha Asri Abdul Hamid, Zarinah Hashim, Junaidah HF5381 Vocational guidance. Career development Succession planning for businesses is highly essential. The essence of succession planning is crucial especially among small and medium businesses as they cannot afford to withstand various major setbacks for continuity and sustainability in developing and developed countries alike. Malaysia is not exceptional to this. This present paper focuses on succession planning in family-owned retailing and manufacturing businesses of East Cost Economic Region (ECER) in Malaysia. This paper attempts to delineate three succession issues in family business i.e., succession dilemma, successor attributes and succession plan. This paper argues that to a certain extent, SME owners face some dilemmas while various factors such as business challenges, managerial capabilities, trustworthiness, loyalty, flexibility etc. are related to succession attributes. The findings generally indicate that the respondents agree to adopt succession planning in their businesses even though only half of them have succession planning. A positive relationship among succession planning, successor attributes and succession dilemma is derived based on a correlation analysis. The succession planning model is established with successor attributes and succession dilemma as the determinants for succession planning. World Business Institute 2011-01 Article PeerReviewed application/pdf en http://irep.iium.edu.my/3244/1/2011-Family_Owned_Business_Succession-I%27national_Review_of_Business%5B1%5D.pdf Abdullah, Moha Asri and Abdul Hamid, Zarinah and Hashim, Junaidah (2011) Family-owned businesses: towards a model of succession planning in Malaysia. International Review of Business Research Papers, 7 (1). pp. 251-264. ISSN 1832-9543 (O), 1837-5685 (P) http://www.bizresearchpapers.com/View%20Articles_november94.htm
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HF5381 Vocational guidance. Career development
spellingShingle	HF5381 Vocational guidance. Career development Abdullah, Moha Asri Abdul Hamid, Zarinah Hashim, Junaidah Family-owned businesses: towards a model of succession planning in Malaysia
description	Succession planning for businesses is highly essential. The essence of succession planning is crucial especially among small and medium businesses as they cannot afford to withstand various major setbacks for continuity and sustainability in developing and developed countries alike. Malaysia is not exceptional to this. This present paper focuses on succession planning in family-owned retailing and manufacturing businesses of East Cost Economic Region (ECER) in Malaysia. This paper attempts to delineate three succession issues in family business i.e., succession dilemma, successor attributes and succession plan. This paper argues that to a certain extent, SME owners face some dilemmas while various factors such as business challenges, managerial capabilities, trustworthiness, loyalty, flexibility etc. are related to succession attributes. The findings generally indicate that the respondents agree to adopt succession planning in their businesses even though only half of them have succession planning. A positive relationship among succession planning, successor attributes and succession dilemma is derived based on a correlation analysis. The succession planning model is established with successor attributes and succession dilemma as the determinants for succession planning.
format	Article
author	Abdullah, Moha Asri Abdul Hamid, Zarinah Hashim, Junaidah
author_facet	Abdullah, Moha Asri Abdul Hamid, Zarinah Hashim, Junaidah
author_sort	Abdullah, Moha Asri
title	Family-owned businesses: towards a model of succession planning in Malaysia
title_short	Family-owned businesses: towards a model of succession planning in Malaysia
title_full	Family-owned businesses: towards a model of succession planning in Malaysia
title_fullStr	Family-owned businesses: towards a model of succession planning in Malaysia
title_full_unstemmed	Family-owned businesses: towards a model of succession planning in Malaysia
title_sort	family-owned businesses: towards a model of succession planning in malaysia
publisher	World Business Institute
publishDate	2011
url	http://irep.iium.edu.my/3244/ http://irep.iium.edu.my/3244/ http://irep.iium.edu.my/3244/1/2011-Family_Owned_Business_Succession-I%27national_Review_of_Business%5B1%5D.pdf
first_indexed	2023-09-18T20:10:59Z
last_indexed	2023-09-18T20:10:59Z
_version_	1777407476368408576

Family-owned businesses: towards a model of succession planning in Malaysia

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