Abstract
The objective of the current study is to test the impact of succession planning (cognitive,
structural, and relational ties), strategic flexibility, and organizational improvisation
towards the business sustainability considering the triple bottom line as underpinning
theory. The survey method was adopted for the data collection and structural modeling
technique is used to test the hypotheses. The findings of the current study show that
cognitive, structural, and relational ties indicate a positive and significant relationship
with business sustainability. Furthermore, findings also indicate the positive and
significant association between succession planning, strategic flexibility, organizational
improvisation, and business sustainability. The result has shown that organizational
improvisation moderates the relationship between succession planning, strategic
flexibility, and sustainable business. However, the direction of the relationship between
succession planning and sustainable business is positive while, in case of strategic
flexibility and sustainable business are negative. Family-owned businesses need to
consider succession planning particularly cognitive, structural, relational ties, and
strategic flexibility to gain their business sustainability.
Ijaz Hussain Bokhari , Armanurah Binti Muhammad, Nazlina Zakaria. (2020) Succession Planning, Strategic Flexibility as Predictors of Business Sustainability in FamilyOwned SMEs: Moderating Role of Organization Improvisation , Pakistan Journal of Commerce and Social Sciences, Volume 14, Issue 1.
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