Entrepreneurial Orientation and Small Scale Business Performance (A Theoretical Approach)

Entrepreneurial Orientation and Small Scale Business Performance (A Theoretical Approach)

Christopher Ogochukwu Ihonor

School of Business & Management Technology

Department of Marketing

Delta State Polytechnic, Ogwashi-Uku

 [email protected]

07030132342 & 09049241315

 

Meteke Sylvanus

School of Business & Management Technology

Department of Banking & Finance

Delta State Polytechnic, Ogwashi-Uku

metekesylvanus209@gmail,com

08033237050

 

Rev Nwaokpani Innocent Echezonam

Bursary Department

Delta State Polytechnic, Ogwashi-Uku

[email protected]

08064125936

Abstract

In today’s dynamic business environment, small-scale businesses play a crucial role in driving economic growth and development, particularly in emerging economies such as Nigeria. However, the performance of these businesses is often hindered by various challenges, including limited resources, intense competition, and poor management practices.  In this context, entrepreneurial orientation (EO) has emerged as a key factor that can enhance the performance and competitiveness of small-scale businesses. The purpose of this research work therefore is to examine the effect of entrepreneurial orientation and small scale business performance in Nigeria with a view to ensure that small scale businesses are positively impacted. This study which adopted the desk research approach to critically reviewed concise concepts and theories related to entrepreneurial orientation and small scale business performance in contemporary times to obtain relevant background information relevant to the subject matter at hand. Majority of the information were gathered from secondary source such as the literatures review of other scholar books, Conference proceedings and Academic journals. It concluded that when entrepreneurial orientation is properly designed to concentrate on innovative idea, it will positively and significantly give rise to small business performance. In addition, there was recommended that managers of enterprises should always be ready to embark on their own risk rather than to wait for other organization to attempt a newly introduced technology before they will go into implementation of the process.

Keywords: Entrepreneurial, Innovativeness, Risk-taking, Orientation and Performance.

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