Bachelor of Project Planning and Entrepreneurship

Permanent URI for this collection

https://hdl.handle.net/20.500.12311/935

Browse

Browsing Bachelor of Project Planning and Entrepreneurship by Author "Herbert Ariho"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    The Drivers of Success in Family Based Business: A Case Study Of Mukono
    (Uganda Christian University, 2023-09-08) Herbert Ariho
    The study covered the drivers of succession in family business: a case study of Mukono division. The study used an explanatory research design which is developed to explore a phenomenon that had not been studied before or had not been well explained previously in a proper manner. The researcher also employed quantitative research approach because this approach was most appropriate for “testing objective theories by examining relationships between variables that can be measured on instruments and analyzed using statistical procedures The study intended to find out the contribution of trust in succession in family business in Mukono division and to examine the contribution of leadership skills in succession in family businesses in Mukono division. The study findings revealed that majority of respondents 70.1% were in agreement that Family members trust each other’s abilities to handle leadership roles in the family business during succession. This finding was evidenced by a Mean of 3.65 and SD of 1.459 implying that trust among family members is a critical factor in determining the success of the transition of leadership roles within a family business. It also revealed that there was a positive relationship between Leadership skills and successful succession plan in family business within Mukono division. The study concluded that trustworthiness is with vital significance in running and managing the business. It also concluded that effective leadership skills are crucial for the success of succession planning efforts within a family business. Leaders who possess the necessary skills and qualities are better equipped to identify, groom, and prepare potential successors for key roles in the business. It was recommended that family-owned businesses should undertake to train prospective successors, in order to enable them to take over the running of the businesses when they are required to do so.