INFLUENCE OF CORPORATE SUCCESSION PLANNING AND GENERATIONAL CHANGEOVER IN FAMILY-OWNED ORGANISATIONS CASE OF FAMILY-OWNED HARDWARE TRADES IN HARARE CENTRAL BUSINESS DISTRICT (ZIMBABWE)

Abstract

The inquiry papyraceous sought after to determine the agent that persuasion succession planning and generational change in small family-owned ironmongery businesses in Harare Central Business District in the Zimbabwean capital metropolitan. Harare is the biggest city in Zimbabwe and has the highest multitude of recorded lineage owned businesses. By means of the Mixed Method Research (MMR) which was QUAN-qual, denotating that this meditation was primarily quantitative with a slender qualitative constituent. The researches patience was pragmatism and the investigation intend was figurative. A sample of 110 respondents was enact through layered random trypiece to take solicitude of the three categories of family-owned businesses namely: small, medium and large family businesses. One hundred and ten self-conduct questionnaire were issuance for fulfillment and 100 were revert practicable, giving a response rate of 90.9%. The questionnaire had mostly shu ppurpose items and a few obvious close article in protection with the QUAN-qual orientation. Data was analysed worn SPSS ver. 23. A multivariate regression analysis was impelled out and the findings were that: the age of the family business proprietor, straightforward of education, communication among family members, gender of business lord, involvement of family members in family employment progeny and size of the class office influence succession sketch and generational change in lineage-owned ironmongery businesses in Harare CBD. R-squared was calculate to determine the impact of these factors on lineage planning and generational turn. The research findings reveal that 65% of the variability in succession planning and generational turn possibly will be expound by the predictor variables enrolled immediately above. The inquiry ponder also found out that succession planning and generational change had the subsequent exchange: reluctancy of business owners/managers to relinquish control of the business; contestation of uncertainty and unknowns and contention within families. This investigation paper recommends that top management of family-owned businesses ought to disentangle comprehensive descent planning and generational strategies for continuity focussing on all the forecaster variables review in the contemplation. It was also recommended that further researches be done on other factors that affect race sketch and generational change in kindred-owned other than hardware businesses in Harare Central Business District. Since the question study was conducted in Harare Central Business District only, this require it toilsome to generalise the findings to the faithful rustic, hence, it is commend that future research should concentrate on a liberal scope of family-owned businesses in dissimilar industries preference food manufacturing , construction ,electronic computer software , hotel and agriculture sectors.