Abstract:
This study assessed the mechanisms and determinants of succession planning,
focusing on the case of small enterprises in Awutu Senya East, Ghana. The study
discussed relay race theory, social role theory, family business theory, the
determinants and mechanisms of succession planning as part of the theoretical and
conceptual analysis. This thesis utilised the pragmatic research paradigm and the
mixed research approach. The study first objective was analysed using narrative
technique, the second and third objectives were analysed using inferential statistics
whereas the fourth objective was analysed using descriptive statistics. In all, a
sample of 180 owner/managers of small enterprises together with eight officials
from Ghana Enterprise Agency were used for the study, and the research employed
questionnaire and an interview guide to elicit the required data for the study. The
findings demonstrated the significance of familial bonds, organizational culture,
and long-term sustainability in shaping the extent of succession preferences and
practices. The study also found that succession planning mechanisms by gender
reveals notable differences in preference and approach among male and female
owners/managers. Also, the study found the significant influence of personal,
organizational, and environmental characteristics on succession planning practices
among small enterprises. Based on the results, it is recommended that small
enterprise owners/managers should develop gender-inclusive succession strategies
that recognize and leverage the unique strengths and perspectives of both male and
female leaders. Lastly, small enterprise owners/managers should invest in
continuous learning and professional development initiatives to equip
owners/managers with the knowledge and skills needed.
