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Exploring the factors influencing intergenerational survival of family-owned passenger bus companies (FOPBCs) in emerging markets: a case for Zimbabwe

Tawanda Finias Chipere, Emmanuel Mutambara and Christopher Chikandiwa
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Tawanda Finias Chipere: University of Kwazulu Natal, South Africa
Emmanuel Mutambara: Professor, Graduate School of Business Leadership, University of Kwazulu Natal, South Africa
Christopher Chikandiwa: Professor, Graduate School of Business Leadership, University of Kwazulu Natal, South Africa

International Journal of Research in Business and Social Science (2147-4478), 2024, vol. 13, issue 2, 01-12

Abstract: This paper sought to explore the factors influencing the intergenerational survival of FOPBCs in Zimbabwe. An exploratory research design was used to collect data from a population of 153 participants, made up of founders, managers, and inspectors working for FOPBCs in Harare, Zimbabwe. A 5-point Likert Scale questionnaire was designed and self-administered to the participants. Exploratory Factor Analysis (EFA) utilizing Principal Axis Factoring (PAF) extraction and Oblique with Kaizer Normalization Rotation, in IBM SPSS Statistics v 26, was used to examine the factors influencing survival of FOPBCs in Zimbabwe. An 8-factor solution, accounting for 84.76% of the total variance was established and all the factors were named accordingly. The factors which emanated from the EFA were succession planning, family entrepreneurial orientation, family total resources, leadership, management, strategic planning, corporate governance, and the external environment. The study concluded that, while all FOPBCs were affected by the external environment, firms capable of effectively implementing, monitoring, and controlling the other seven factors had higher chances of witnessing successful intergenerational business transitions. A clear strategy incorporating succession planning, family entrepreneurial orientation, family total resources, leadership, management at the same time upholding corporate governance practices will see FOPBCs surviving across generations. Key Words:Family-owned business, family-owned passenger bus company, succession planning, leadership, family total resources

Date: 2024
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International Journal of Research in Business and Social Science (2147-4478) is currently edited by Prof.Dr.Umit Hacioglu

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