Abstract:
In the dynamic context of entrepreneurship, succession management practices is important in the aspect of long-term planning for small and medium enterprises to ensure business continuity and sustainability to drive innovation, create jobs and foster local development. However, this becomes mirage as a result of shifting market dynamics, technological advancements, and evolving customer needs. Previous research inquiries have explored the interplay between succession management practices and the performance of organisations but the outcomes of these investigations have revealed inconsistencies with limited focus on the impact of succession management practices and competitive advantage of Averiprenurship SMEs which thus create gap for further studies
Survey research design was adopted for this study and the study population comprised 706 owner and manager Poultry farms in Ogun State, Nigeria. A sample size of 632 was determined using census method and data collected through the use of questionnaire. Data were analyzed using descriptive statistics and multiple regression analysis. The analysis results revealed that SMP dimensions (recruitment policy (? = .085, t = 2.119, p<0.05), coaching (? = 0.243, t = 5.456, p<0.05), mentoring (? = .127, t = 2.957, p<0.05) and job rotation (? = .138, t = 3.456, p<0.05) all have a significant positive effect on competitive advantage. This indicates that recruitment policy, coaching, mentoring, and job rotations were important predictors of competitive advantage of Avipreneurship SMEs in Ogun State, Nigeria. However, employees' career development (? = 0.066, t = 1.487, p>0.05) have a positive but non-significant effect on competitive advantage of Avipreneurship SMEs in Ogun State, Nigeria.
The correlation value (R-value) which is 0.571; showed that SMP dimensions have a strong positive relationship with competitive advantage. The Adj. R2 (R2= 0.321) implies that 32.1% of the variance in competitive advantage of Avipreneurship SMEs in Ogun State, Nigeria was attributable to the SMP (recruitment policy, coaching, mentoring, and job rotation) while the remaining 62.9% changes that occurs is accounted for by other variables not captured in the model. The study recommended that management of these Avipreneurship SMEs in Ogun State, Nigeria should create succession management practices that align with the long-term strategic goals of the organisation. This ensures that future leaders are prepared to drive the company’s competitive strategies and maintain its market position. They should encourage successors to embrace innovation and adaptability. Equip them with the skills and mindset needed to respond to market changes, technological advancements, and evolving customer needs, thereby maintaining a competitive edge.
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