Entrepreneurial orientation and business performance: A study of micro and small-scale women-owned enterprises in Asaba, Delta State, Nigeria

Abstract

This study examined the relationship between entrepreneurial orientation and business performance of Micro and Small Scale in Asaba, Delta State, Nigeria. Cross sectional research design was adopted in studying which involves three hundred and twenty enterprises. The respondents were women owner-managed MSEs which constitute the study population. However, three hundred and three (303) copies of questionnaire were retrieved and analyzed from respondents in the field survey. Data were analyzed, using Spearman’s Rank Correlation Coefficient to ascertain the relationship between the study variable with the aid of Statistical
Package for Social Sciences. Results of the analysis indicate a significant relationship between dimensions of entrepreneurial orientation (innovativeness, risk-taking and proactiveness) and business performance. The study then inferred that entrepreneurial orientation undoubtedly impacts on business performance. From the conclusion, the study recommended that Micro and small-scale women-owned enterprises should improve their practices of entrepreneurial orientation by introducing new product lines, technologies, and market; improve workers’ participation in developing new ideas and design; and compete aggressively by taking a calculated risk.