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Gender-Inclusive, Sustainable, Frugal and Innovative Methods in Succession Planning for Indian Small and Medium Enterprises Family-Owned Businesses

In: Innovation-Driven Business and Sustainability in the Tropics

Author

Listed:
  • Pooja Alfred Arambhan

    (S P Jain School of Global Management)

  • Jireh Hooi Inn Seow

    (Innovation and Entrepreneurship Centre (i2e)
    S P Jain School of Global Management)

  • Bhanu Ranjan

    (S P Jain School of Global Management)

Abstract

India has recently recorded the fastest economic growth among all the major world economies, making the country the fifth-largest economy in the world. Eighty-nine percent of India’s gross domestic product is contributed by family-owned businesses (FoBs) that employ 75% of the workforce. Still, there exists a gaping void in the participation of women in top leadership positions, and gender inequality remains a key development issue. Furthermore, the recent COVID-19 global pandemic has aggravated sustainability challenges for these Small & Medium Enterprises (SME) FoBs, with increased importance given to succession planning in the aftermath of the COVID-19 crisis. As a result, FoBs are forced to adopt frugal innovative methods for inter-generational sustainability. The authors conducted a systematic literature review between 2019–2022 to delve into the various innovative methods adopted by SME FoBs and their implications on gender inclusivity as a key human capital to propose suitable recommendations and bridge the prevalent gender gap to improve India’s 124th position out of 190 countries on the Gender Inequality Index as rated by the World Bank (2022).

Suggested Citation

  • Pooja Alfred Arambhan & Jireh Hooi Inn Seow & Bhanu Ranjan, 2023. "Gender-Inclusive, Sustainable, Frugal and Innovative Methods in Succession Planning for Indian Small and Medium Enterprises Family-Owned Businesses," Springer Books, in: Emiel L. Eijdenberg & Malobi Mukherjee & Jacob Wood (ed.), Innovation-Driven Business and Sustainability in the Tropics, chapter 0, pages 187-202, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-2909-2_10
    DOI: 10.1007/978-981-99-2909-2_10
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