Chapter One — 1.1 Background to the Study

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

Osun State 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

While succession planning is widely discussed in policy and industry circles, empirical evidence on its actual effect on market share of firms within Osun State remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to succession planning are helping or hindering market share of firms — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Succession Planning on market share of firms in Osun State.
2. To assess the extent to which succession planning influences market share of firms within the study area.
3. To identify the challenges associated with succession planning in relation to market share of firms.
4. To recommend strategies for optimizing succession planning in order to improve market share of firms.

1.4 Research Questions

1. What is the effect of succession planning on market share of firms in Osun State?
2. To what extent does succession planning influence market share of firms within the study area?
3. What challenges are associated with succession planning in relation to market share of firms?
4. What strategies can be adopted to optimize succession planning in order to improve market share of firms?

1.5 Significance of the Study

Beyond its academic contribution to the field of business administration, this study has practical value for management teams within Osun State seeking to understand how succession planning translates into measurable outcomes around market share of firms. It is equally useful to students and future researchers looking for a localized empirical reference on this relationship.

1.6 Scope of the Study

In terms of scope, this study confines itself to Osun State, focusing specifically on how succession planning relates to market share of firms within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.