ENTREPRENEURIAL INNOVATIVE ORIENTATION PRACTICE: AN EFFECTIVE MEANS FOR ORGANIZATIONAL PERFORMANCE IN NIGERIA LISTED PAINT MANUFACTURING FIRMS
Abstract:ABSTRACT
Business
Operators in manufacturing firms lean towards engagement in entrepreneurial
innovative activities. Previous researches have emphasized that Entrepreneurial
Orientation (EO) is a key ingredient for firm innovation.
However, adequate attention and commitment to issues of Entrepreneurial Innovative
Orientations such as new product development,
technological, market opportunities, and staff development and how it
influences Manufacturing firms have not been well explored in Nigeria. The
study evaluated the influence of entrepreneurial innovative orientation on the
performance of selected manufacturing firms regarding listed paint
manufacturing firms in Nigeria. Both
Primary and secondary data were adopted. The primary data were gathered through
the use of questionnaires while the secondary was source through financial
reports of selected firms from a period of 2014-2019. Three hundred (300) questionnaires were administered on the staff of all eight (6) quoted paint manufacturing firms
selected using stratified random and Judgmental techniques. This was done in such
a way that all the 8 selected quoted paint manufacturing firms in relevant units (Finance,
sales and marketing, research and development, and operations team) have 50 questionnaires
each. Data collected was analyzed using Descriptive statistics
while regression analysis was used to test the
formulated hypothesis. The results ( R2 -0.745; F- values = 35.400 = and P-Value = 0.000) revealed Entrepreneurial
Innovative Orientation such as technological innovation, product
development, market opportunity, and staff development had a positive
significant effect on the performance of sales and profit of sampled paint
manufacturing firms in Nigeria. This study concluded that entrepreneurial innovative
orientation had a significant and positive influence on the performance of
selected paint manufacturing firms in Nigeria. Therefore, the study recommended
that business operators of paint manufacturing firms should embrace Pro-active
and performance-based to take advantage of new market emerging dynamics and
opportunities that will positively enhance firm performance.