Succession Planning Towards Business Sustainability Based On Knowledge Management

Abd Hamid, Norsyakila Hani (2014) Succession Planning Towards Business Sustainability Based On Knowledge Management. Project Report. UTeM, Melaka, Malaysia. (Submitted)

Text (24 Pages) Succession Planning Towards Business Sustainability Based On Knowledge Management.pdf - Submitted Version Download (427kB)

Abstract

Business sustainability is the term that are used to measure the stability of the business to keep sustain in the market. Therefore, entrepreneur needs to have a succession planning where it contains strategy to identify next successor to continue the business legacy. In succession planning, knowledge management has become very crucial due to the tacit knowledge is very difficult to transfer. Entrepreneur needs to know how to transfer the tacit knowledge from experienced generations to another generation. The problem arise here is how the entrepreneur will survive in market if they do not have a succession planning and do not realize the barriers that occur while transferring the tacit knowledge. Thus, the aim of this paper is to identify the relationship between succession planning, and barriers of transferring tacit knowledge towards business sustainability for Small Medium Enterprises (SME) entrepreneurs. This research employed quantitative research method and the data are collected from primary sources only where 100 questionnaires has been distributed to entrepreneur from food industry located in Kedah. This research using Statistical Package for Social Sciences (SPSS), to analyzed the collected data. As the result, all the independent variables which are succession planning and barriers of transferring tacit knowledge have a positively relationship with the dependent variable which is business sustainability. Result also shows that communication is the main barrier that occurs in transferring tacit knowledge. So, as a conclusion, in order to make the business sustain in the market, entrepreneur itself should play their own role in managing the business by having a long term goals in term of successor and also the management of the tacit knowledge among the employees.

Actions (login required)

View Item