Doctor of Philosophy (PhD)
Human Resource Education and Workforce Development
The primary purpose of this study was to determine the influence selected aspects of succession planning and selected demographic characteristics had on the level of success in the succession of family owned businesses (FOB¡¯s) in south Louisiana. To achieve this, the researcher designed a survey instrument to collect data. A total of 61 FOB¡¯s responded indicating they completed succession; however, only 23 or (38%) completed a planned succession to the next generation. An important finding was that having a high quality succession plan had a positive influence on the perceptions of family owned business owners and managers. Another important finding was respondents perceived that planning for succession was important. Perceptions were measured based on a four point Likert-type scale, indicating mean values with a range from 3.52 (strongly agree) to 2.61 (agree). It was based on these findings that the researcher recommended this study be replicated with a larger sample size to further determine the influence that quality of plan has on perceptions of succession planning. In addition, the researcher recommended that organizations that provide consulting services, professional development and support to family businesses, such as family owned business centers connected with universities, local chambers of commerce, and corporate accounting firms, add programs that will educate family business owners and managers on the importance of succession planning and the steps necessary for preparing a quality succession plan. It was based on these findings that the researcher recommended this study be replicated to determine if perceptions of FOB owners and managers regarding their agreement with successful succession items can be confirmed. Also, that ¡°Planning for succession early is important to a successful succession¡± and ¡°Planning had a positive effect on the overall succession process¡± report mean values ¡Ý 3.50. In addition, structured qualitative studies should be conducted to understand the perceptions of why planning is important in family owned business and how and why it increases success.
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Perret, Steven Thomas, "Succession in Family Owned Businesses: The Influence of Succession Planning and Demographic Characteristics on Succession Success" (2016). LSU Doctoral Dissertations. 3419.