The Effect of Business Strategy, Social Responsibility and Succession on Family Business Sustainability

Nora Susanti; Agung Sudjatmoko; Hikmil Kumala; Yulhendri Yulhendri; Rika Verawati; Alfattory Rheza  Syahrul

doi:10.55927/ak3jre51

Authors

Nora Susanti Universitas PGRI Sumatera Barat Author https://orcid.org/0000-0002-2518-0242
Agung Sudjatmoko Binus Univesity Author
Hikmil Kumala Padang State University Author
Yulhendri Yulhendri Padang State University Author https://orcid.org/0000-0002-9063-3965
Rika Verawati Universitas PGRI Sumatera Barat Author https://orcid.org/0009-0009-9397-4827
Alfattory Rheza Syahrul Universitas PGRI Sumatera Barat Author https://orcid.org/0000-0002-0585-8204

DOI:

https://doi.org/10.55927/ak3jre51

Keywords:

Family business; Business Strategy; Social Responsibility; Succession Business; Business Sustainability

Abstract

Family business sustainability is essential for ensuring long-term business continuity. This study examines the effects of business strategy, social responsibility, and succession on family business sustainability. Data were collected from 241 family business owners in Payakumbuh City, West Sumatra, selected randomly from a population of 612 businesses. Structural Equation Modeling (SEM) was employed for data analysis. The findings reveal that business strategy significantly influences family business sustainability, whereas social responsibility and succession have no significant direct effects. These results suggest that strategic management plays a crucial role in sustaining family businesses, while effective succession planning and social responsibility require further development to support long-term sustainability

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