<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The concept of family business in Nigeria has become significantly attractive; its root is in sole proprietorship form of business. Family businesses have the unique strength to separate culture, language and personality. The research analyses the effect of interpersonal relationship on internationalisation and determines the extent to which succession planning affects internationalisation. Research presents that a positive relationship exists between internationalisation and interpersonal relationship. It has also been discovered that no positive relationship exists between succession planning and internationalisation. This study therefore concludes that family businesses which proceed to internationalisation enjoy growth in productivity, adequate brand awareness in the world, diversification of political and financial risks, as well as experience an increase in the share of the market, capital base, asset and open up opportunities in regional markets for workers. The study also recommends that employees in family businesses should communicate with each other effectively for a healthy relationship and managers should not make secret preparations for successors.</p></abstract>

The concept of family business in Nigeria has become significantly attractive; its root is in sole proprietorship form of business. Family businesses have the unique strength to separate culture, language and personality. The research analyses the effect of interpersonal relationship on internationalisation and determines the extent to which succession planning affects internationalisation. Research presents that a positive relationship exists between internationalisation and interpersonal relationship. It has also been discovered that no positive relationship exists between succession planning and internationalisation. This study therefore concludes that family businesses which proceed to internationalisation enjoy growth in productivity, adequate brand awareness in the world, diversification of political and financial risks, as well as experience an increase in the share of the market, capital base, asset and open up opportunities in regional markets for workers. The study also recommends that employees in family businesses should communicate with each other effectively for a healthy relationship and managers should not make secret preparations for successors.

Family Business Operations and Sequel of Internationalisation in Nigeria

Economics and Business

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"Family Business Operations and Sequel of Internationalisation in Nigeria"}

The concept of family business in Nigeria has become significantly attractive; its root is in sole proprietorship form of business. Family businesses have the...

Family Business Operations and Sequel of Internationalisation in Nigeria

Published Online: Aug 03, 2020

Page range: 126 - 138

DOI: https://doi.org/10.2478/eb-2020-0009

Keywords
Family business, Internationalisation, Interpersonal relationship, Succession planning

© 2020 Amos Olufemi Akinbola et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Family Business Operations and Sequel of Internationalisation in Nigeria

Published Online: Aug 03, 2020

Page range: 126 - 138

DOI: https://doi.org/10.2478/eb-2020-0009

KeywordsFamily business, Internationalisation, Interpersonal relationship, Succession planning

© 2020 Amos Olufemi Akinbola et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
Family business, Internationalisation, Interpersonal relationship, Succession planning