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

Author

Listed:
  • 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)

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

Suggested Citation

  • Tawanda Finias Chipere & Emmanuel Mutambara & Christopher Chikandiwa, 2024. "Exploring the factors influencing intergenerational survival of family-owned passenger bus companies (FOPBCs) in emerging markets: a case for Zimbabwe," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 13(2), pages 01-12, March.
    • Handle: RePEc:rbs:ijbrss:v:13:y:2024:i:2:p:01-12
    DOI: 10.20525/ijrbs.v13i2.2783
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    References listed on IDEAS

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    1. Kandade, Kiran & Samara, Georges & Parada, Maria José & Dawson, Alexandra, 2021. "From family successors to successful business leaders: A qualitative study of how high-quality relationships develop in family businesses," Journal of Family Business Strategy, Elsevier, vol. 12(2).
    2. Zellweger, Thomas M. & Eddleston, Kimberly A. & Kellermanns, Franz W., 2010. "Exploring the concept of familiness: Introducing family firm identity," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 54-63, March.
    3. Julia Suess-Reyes, 2017. "Understanding the transgenerational orientation of family businesses: the role of family governance and business family identity," Journal of Business Economics, Springer, vol. 87(6), pages 749-777, August.
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