Succession Management System: Strategic Investment for Social Business Success

Document Type : Original Article

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Department of Services and Ecosystem of Trade, Faculty of Commerce and Trade, College of Management, University of Tehran, Tehran, Iran.

Abstract

Social business is a type of business whose main goal is to solve a social or environmental problem, while using business models to achieve the financial and operational sustainability. In other words, such businesses, like traditional companies, seek profitability, but the profit earned is used more to expand social activities and solve problems, and not necessarily to increase the shareholder wealth. On the other hand, over the recent years, the concept of human resources has given way to human capital, and the development of knowledge is considered the most important foundation of human civilization. The purpose of the present study is to assess the current status of the succession management system and strategies for achieving a desirable situation in social businesses. The research methodology is descriptive-survey and applied. For this purpose, 150 people from social businesses were selected through convenience sampling and their information was collected and analyzed using a standard questionnaire. The statistical methods used in this study include descriptive and inferential statistics, one-sample t-test and two-pair t-test using SPSS 22 statistical software. The results show that there is a significant difference between the current state of the succession system and its desired state in social businesses.Keywords: Succession System, Talent Acquisition, Social Businesses

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