n IFE PsychologIA : An International Journal - Developing the entrepreneurial orientation of owner-managers of small and medium enterprises in Nigeria
|Article Title||Developing the entrepreneurial orientation of owner-managers of small and medium enterprises in Nigeria|
|© Publisher:||IFE Centre for Psychological Studies (ICPS)|
|Journal||IFE PsychologIA : An International Journal|
|Affiliations||1 Obafemi Awolowo University, Nigeria|
|Publication Date||Mar 2014|
|Pages||218 - 231|
|Keyword(s)||Entrepreneurial orientation, Owner-managers and Small and Medium Enterprises|
Small and Medium Enterprises (SMEs) in Nigeria have not been able to adequately carry out their traditional and conventional roles as the foundation of indigenous and overall economic development as the case with countries in Europe, America and Asia despite supports by governmental and nongovernmental institutions. This is not unconnected to dearth of information on the compositions and potentialities of the entrepreneurial posture of Nigerian SMEs that made designing appropriate interventions relatively difficult. Therefore, this paper primarily provided information on the entrepreneurial orientations (EO) of Nigerian SMEs and how they can be developed and harnessed for SMEs development. Hence, it examined the levels, patterns, strengths and weaknesses in the entrepreneurial orientation of SMEs in Southwestern Nigeria. Multi-stage sampling techniques were adopted in data collection, the data were collected through questionnaire administered on 279 SMEs in Lagos state and Ibadan area of Oyo State, Southwestern Nigeria. The data collected were analysed using descriptive and inferential statistics. The result showed that the SMEs were moderate entrepreneurial oriented and at best, the SMEs are more risk-taker than proactive and least innovative. The paper suggested ways of improving the entrepreneurial orientation and observed that it is a task for all primary stakeholders (government, organised private sector, and multilateral institutions) providing assistance to SMEs in Nigeria.
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