CHAPTER 1: INTRODUCTION 1.0 Chapter Overview - DSpace@UM

egression analysis support the findings. Specifically, the significant positive relationshipindicates that for every increase of one point in the level of succession planningcharacteristics there is an increase of 0.62 in organizational outcomes. The results alsoshow that some of the demographic/control variables are significantly correlated tosuccession planning characteristics. Firm size shows positive significant correlation withsuccession planning characteristics whereas employee turnover rate shows negativesignificant correlation with succession planning characteristics. There is no significantcorrelation between firm age, industrial sector, firm type, and firm listing with successionplanning characteristics.Most of the demographic/control variables show significant relationship withorganizational outcomes. The multiple regression analysis reveals that except forindustrial sector, the other 5 demographic variables (i.e. firm age, firm size, firm type,firm listing, and employee turnover rate) show significant relationship withorganizational outcomes. However, the Pearson-Moment correlation analysis indicatesthat organizational outcomes are significantly correlated with the 4 demographicvariables i.e. firm age, firm size, firm type, and employee turn over rate. These resultsshow evidence that there is a significant relationship between the demographic/controlvariables and organizational outcomes.Succession planning is the key strategic management tool to sustain organizationalgrowth and competitive advantage in the twenty first century. It is a unique processwhereby a one-size-fits-all approach may not seem appropriate. Further, the departure of91