Filipino values influence on successor’s skills, willingness and commitment, and family relationship towards succession among family-owned bakeshop in Manila city: Basis for successor succession framework Catapang Ronald C.* National University (NU-Lipa), Philippines *Corresponding Author: Dr. Ronald C. Catapang; Email: ronaldcatapangmba@gmail.com
Online Published on 22 February, 2024. Abstract Family-owned bakeshops have become part of the Filipino lifestyle among local neighborhoods. These businesses are under the micro, small, and medium enterprises (MSMEs). Using Venter, Boshoff, and Maas Successor related factors theory, the study determines the perception of family-owned bakeshops regarding succession and how Filipino values (diskarte, lakas ng loob and Family kinship) are present in the successor's skills, willingness and commitment, and relationship among selected bakeshops. The study determines the influence of the successor's traits and characteristics about the successor and the relationship among these factors. Self-made questionnaires were distributed to thirty (30) family-owned bakeshops in Manila City. The study found that the family-owned bakeshop in manila city perceived succession as an essential part of the continuity of the business, and the successor's traits and characteristics supported by Filipino values are highly influential in the succession process. Successors skills, willingness and commitment, and relationships are significantly related and positively influence succession. Filipino values do not directly relate to succession but positively influence successor traits and characteristics. The study suggests that the current owner's family-owned bakeshop can use this study to evaluate their successor traits and characteristics supported by Filipino values to successfully transfer the management and ownership of the business from one generation to the next. Furthermore, the study proposed a succession model using Filipino values as an identifier of the successor's traits and characteristics of a Filipino family-owned bakeshop and its influence in succession. Top Keywords Successor's Skills, Successor's Willingness and Commitment, Successor's Relationship, Filipino Values, Family-Owned Bakeshop, MSMEs. Top |