Succession Planning PT. Tech Oil International

Abstract

Family business plays a role and contributes greatly to the economic growth of the world in general and a country in particular. The focus of this research is directed at the succession planning process that will take place in PT. Tech Oil International. Succession planning process plays an important role in the sustainability of family business. To produce an effective successor candidate, the next generation needs to be involved in the planning process. Therefore, this study is aimed to describe the succession planning effectiveness at PT. Tech Oil International. This study uses qualitative approach. Interview is used as data retrieval method in this study. The validity of the study data was tested using triangulation technique of subject and time by interviewing the first generation of PT. Oil Tech International, the corporate secretary, and the general manager. Additionally, two triangulations were performed by asking the same questions in different language and time to the owner’s wife and the prospective future generation. The findings of this research include education, gender, and professional mentoring. This research also suggests that the company has gradually performed succession planning. A good planning on future successors has also been done. The mentoring and professional coaching process has run smoothly and naturally. However, the company has yet to have an institutionalized training program.