ORGANIZATIONAL LEARNING AND SURVIVAL OF FAMILY OWNED BUSINESSES IN RIVERS STATE

Family businesses today have been faced with various competitions and turbulences which have affected their survival rate. Various financial institutions have given business owners access to funds with the expectation that these businesses would survive over generations. Irrespective of these funds, family businesses keep going moribund. Therefore, this study explores how organizational learning as a strategic component that involves family business owners, managers and employee on the option to learn and acquire knowledge. This study has established the relationship between organizational learning and survival of family owned businesses (F.O.B) in Rivers state. Hypotheses developed in the study were tested with a sample size of sixty-five (65) comprising of business owners and managers of F.O.B. Results from the distribution of questionnaire were analyzed using the Pearson Moment Correlation Coefficient through the use of SPSS V 20.0. The outcome of the analyses showed that knowledge sharing positively impacts survival of F.O.B. and similar with hypotheses two. In line with the result, the study deduced that organizational learning is a major prerequisite for every F.O.B as it plays a major role for its survival. Consequently, we recommend the establishment of a network upon which knowledge can be shared and furthermore, there is need for open mindedness within the business as this will create room for learning within the organization.