Impact of Entrepreneurial Orientation on Performance of Manufacturing Firms in Nigeria
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Date
2023
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Economic Insights – Trends and Challenges
Abstract
The study investigated the impact of entrepreneurial orientation
on performance of manufacturing firms in Nigeria. The specific objectives of
this study were to: investigate the impact of risk-taking on the innovative
performance, examine the influence of autonomy on the innovative
performance and assess the moderating role of competitive environment on
the relationship between entrepreneurial orientation and innovative
performance of selected manufacturing firms in Nigeria. A purposive
sampling technique was adopted to select the sample size of 373. Primary
data were collected through the use of questionnaire and the data were
analysed using descriptive statistics, simple linear regression and
hierarchical regression. Hypothesis One indicated that there is a significant
positive association between risk-taking and innovative performance (R2 =
0.728, p=0.000 < 0.05). Similarly, hypothesis Two revealed a significant
positive association between autonomy and innovative performance (R2 =
0.604, p=0.000 < 0.05). Hypothesis Three showed that competitive
environment moderates the relationship between entrepreneurial orientation
and innovative performance (Adjusted R2 = 0.673, p=0.000 < 0.05). The
study recommends that consumer goods manufacturing firms should make
continuous and intense efforts to increase their competitive aggressive
stance by out-performing their industry rivals in all business activities.
Secondly, they should be continually proactive, which implies that they
should have the foresight to seize business opportunities at all times.
Keywords: Entrepreneurial Orientation; Innovative Performance;
Competitive Environment; Risk Taking, Autonomy.