SUCCESSION PLANNING STRATEGIES AND THE SUSTENANCE OF SME IN GHANA: THE MODERATING ROLE OF LEADERSHIP STYLES

Description

This research examines the moderating role of transformational, transactional, and participative leadership in the relationship between succession planning strategies and the sustenance of manufacturing SMEs in Ghana. Surveying 500 leaders from 200 registered manufacturing SMEs, the study employed a quantitative approach and structural equation modeling to test the proposed hypotheses. Findings reveal that succession planning strategies and transformational, participative, and transactional leadership significantly predict SME sustenance. These leadership styles moderate the impact of succession planning strategies on SME sustenance. The originality of this study is based on examining the relationship between succession planning strategies and leadership styles within the Ghanaian manufacturing context, area previously underexplored. By integrating leadership styles as moderating variables, the study offers a new conceptual framework that enhances understanding of how leadership optimize succession planning strategies and improve SME sustenance, uniquely contributing to literature by empirically demonstrating the moderating effects of leadership on succession planning strategies.