Chapter One — 1.1 Background to the Study

In recent years, Succession Planning has emerged as a critical factor shaping firm competitiveness across organizations operating in and around Selected Commercial Banks in Nigeria. As institutions grapple with the pressures of globalization, regulatory reform, and shifting stakeholder expectations, understanding how succession planning relates to firm competitiveness has become an important area of both scholarly and practical concern.

Selected Commercial Banks in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

Despite a growing body of literature on succession planning, there remains limited consensus on the precise nature of its relationship with firm competitiveness, particularly within Selected Commercial Banks in Nigeria. Many organizations continue to make decisions about succession planning without a clear, evidence-based understanding of how those decisions ultimately affect firm competitiveness. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Succession Planning on firm competitiveness in Selected Commercial Banks in Nigeria.
2. To assess the extent to which succession planning influences firm competitiveness within the study area.
3. To identify the challenges associated with succession planning in relation to firm competitiveness.
4. To recommend strategies for optimizing succession planning in order to improve firm competitiveness.

1.4 Research Questions

1. What is the effect of succession planning on firm competitiveness in Selected Commercial Banks in Nigeria?
2. To what extent does succession planning influence firm competitiveness within the study area?
3. What challenges are associated with succession planning in relation to firm competitiveness?
4. What strategies can be adopted to optimize succession planning in order to improve firm competitiveness?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around firm competitiveness. For managers and practitioners within Selected Commercial Banks in Nigeria, the study provides practical insight into how succession planning can be better managed. Finally, it contributes to the academic literature on business administration by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

In terms of scope, this PhD study confines itself to Selected Commercial Banks in Nigeria, focusing specifically on how succession planning relates to firm competitiveness within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.