ROLE OF FAMILY-SUCCESSION CRISIS, ITS RESOLUTION, AND FAMILY THERAPY ON FAMILY BUSINESS PERFORMANCE IN NASARAWA STATE, NIGERIA

Abstract

Many businesses are trapped on issue of who will be the successor after thefounder/leader is no longer controlling the helm of affairs. The study adopted cross-sectional design inwhich the population comprised family businesses in Nasarawa State, Nigeria. The study sampled 145respondents who were purposively drawn from the entire population where data was analyzed usingthe regression method with the aid of the SPSS package. It was revealed that succession crisis resolutionand family therapy have a significant and positive effect on family business performance. The studyrecommends among other issues that family business owners should imbibe the culture of leadershipsuccession crisis resolution as it proves to ensure a smooth transition of leadership succession in theorganization. furthermore, owners and managers of family businesses should engage their workers inpsychological therapy, so as to enable them to be more productive within and outside the businessenvironment.