Effect of Succession Planning On Business Performance of Private Universities in Ogun State, Nigeria

Abstract

Organizations need to keep running despite the potential risk it faces. However, leaders in institutions find it difficult to survive in the face of difficulties. The study aims to determine the effect of succession planning on business performance: Empirical evidence of The Bells University, Covenant University, and Crawford University. The objective of the study was to; evaluate the effect of the transition process on business continuity, examine the impact performance metric has on corporate image and determine the influence successor training and development has on customer satisfaction of the selected firm. A hundred and fifty (150) copies of questionnaires were administered to the top and middle-level management in the selected universities. The study adopted a correlational research design. The findings show that succession planning has a significant impact on business performance. The significant value (.000) indicated that the transition process has a substantial effect on business continuity. Similarly, the performance metric showed a positive association (.000) with corporate image. The significant value for successor training and development and customer satisfaction was (.000), which was less than 0.05, indicating that successor training and development significantly affected customer satisfaction. This study thus concludes that succession planning is an effective strategy to ensure business performance.