Thematic analysis of the experiences and perceptions of family business successors prior to their mantle of leadership in Nigeria

Adeniran Rahmon Tella 1, * and Akintunde Jonathan Oyedokun 2

1 Department of Business Management, Faculty of Arts, Social and Management Sciences, Atiba University, Oyo, Oyo State, Nigeria.
2 Department of Business Management, Ladoke Akintola University of Technology, Ogbomoso, Nigeria.
 
Research Article
International Journal of Science and Research Archive, 2024, 12(02), 2354–2360.
Article DOI: 10.30574/ijsra.2024.12.1.1027
Publication history: 
Received on 26 April 2024; revised on 04 June 2024; accepted on 07 June 2024
 
Abstract: 
The experiences and perceptions of family business successors prior to their choice as the successors of their family business were explored to determine the qualities that attracted their choice as family business successors and how these qualities impacted their success since they assumed the mantle of leadership. Fifteen successful family businesses with successors controlling the businesses were purposively selected to suit the research goals. The selection was done through snowball sampling, while convenience sampling was used to select participants for face-to-face interviews. Each interview averaged 15 minutes. Thematic interpretive text analysis was performed on the data, and interviews were transcribed verbatim. Data were coded into categories, namely prior experience, training of the successor, education of the successor, passion, and commitment of the successor. Findings revealed that commitment without passion for the business might not be sustainable due to potential business challenges that could undermine commitment and focus. However, strong passion for the business could foster determination to succeed despite challenges. The family believed that education would guide the successor, providing exposure, confidence, and opportunities to bolster the family business image globally. Prior experience gave family business successors the confidence to settle down easily and meet family and community expectations, addressing challenges faster while maintaining business culture and capabilities. Community and family norms perceived education as essential in choosing a successor. Passion was a key success factor in choosing successors, and successors' passion grew upon realizing their formidable role in the family business.
 
Keywords: 
Succession; Family Business; Passion; Education; Qualitative Text Analysis; Prior Experience
 
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