ABSTRACT
The study
examined the effect of entrepreneurial characteristics on business
performance. The main objectives of the study were to find out the effect of
entrepreneurial characteristic on business performance with the case study of
APEX paint Ltd. The research also described the performance of the business
based on the characteristics exhibited by the entrepreneurs.
Quantitative research method was used in the study. The total population of the
study is 290, while relevant data was gathered with the aid of a structured
questionnaire. The Survey questionnaire was sent to the staff for the research.
Empirical study was conducted by sending a questionnaire to the staff of APEX
paint Ltd. There were 290 respondents. The results driven from the research
showed that there is a strong effect of entrepreneurial characteristics on
business performance. four hypothesis was formulated and inferential
statistical tool was used to analyze the data specifically Pearson product
moment correlation was used to examine the relationship between entrepreneurial
characteristics and business performance, while Regression analysis was used to
examine the significant effect of entrepreneurial characteristics on business
performance.
TABLE OF CONTENTS
Contents
Certification. ii
Declaration. iii
Dedication. iv
Acknowledgements. v
Table
of Contents. vi
List
of Tables
Abstract ix
CHAPTER
ONE
INTRODUCTION
1.1 Background
of the Study.
1.2
Statement of Research Problem
1.3
Research Aim and Objectives
1.4
Research Questions
1.5
Research Hypotheses
1.6
Significance of the Study
1.7
Limitation of the Study
1.8
Scope of the Study
1.9
Outline of Chapters
1.10
Operationalization
1.11
Definition of Terms
CHAPTER
TWO
LITERATURE
REVIEW
2.1
Introduction
2.2
Conceptual Review
2.2.1
Conept of entrepreneurship
2.2.1.1charactristics
of entrepreneurship
2.2.1.2: the effect of entrepreneurial
Characteristics on business performance
2.3
Theoretical review
2.3.1
Economic entrepreneurship theory
2.3.2
Psychological entrepreneurship
theory
2.3.3
Sociological entrepreneurship
theory
2.3.4
Anthropological
entrepreneurship theory
2.3.5 Opportunity-Based
entrepreneurship theory
2.4
Empirical review
2.5
Gap in literature
CHAPTER
THREE
3.0 Research
Methodology
3.1
Introduction
3.2
Research Method
3.3
Research Design
3.4
Population of Study
3.5
Sampling Technique/ Procedure
3.6
Research Sample Frame
3.7
Sources of Data and Procedure for Data Collection
3.8
Research Instruments
3.9
Validity of Research Instruments
3.10
Reliability of the Research Instrument
3.11
Ethical Issues for Consideration
CHAPTER
FOUR
4.1 Introduction
4.2 Presentation
of Data
4.3 Data
Analysis And Interpretation
4.3.1 Analysis of Demographic Data
4.3.2
Test of Questionnaire
4.3.2.1
Employee From Different Background
4.5
Discussion of Results
CHAPTER
FIVE
5.1
Introduction
5.2
Summary
5.3
Summary of Findings
5.3.1
Theoretical Findings
5.3.2
Empirical Findings
5.4
Conclusion
5.5
Recommendations
5.6
De-limitation
5.7
Suggestion for Further Study
5.8
Contribution to Knowledge
REFERENCES
Appendix
II
CHAPTER
ONE
INTRODUCTION
1.1
Background
of the Study
Starting from the time of report of the
fascinating study of entrepreneurs by McClelland (1961) in which he came out
with a list of nine characteristics of the entrepreneur, several other writers
have equally illuminated the list of entrepreneur characteristics. McClelland
(1961) listed the following characteristics of
entrepreneur; need for achievement, desire for responsibility,
preference for moderate risks, perception of probability of success,
stimulation by feedback, energetic activity, future orientation, skill in
organizing and attitude toward money.
An
entrepreneur is an innovator who implements changes within a market through the
carrying out of new combinations. The carrying out of new combination can take
several forms; the introduction of a new good quality, therefore; the
introduction of a new method of production, the opening of a new market; the
congress of a new source of new materials or parts; the carrying out of the new
organization of any industry. Furthermore, an entrepreneur is an individual
that identifies, develop and brings vision to life under condition of risk and
a considerable uncertainty. The vision may be an innovative idea, an
opportunity or simply a better way to do something (Mamma, 2010).
This
is the reason why it is often said that every entrepreneur is a human being but
not every human being is an entrepreneurs. Going by this adage; it can be said
that entrepreneurs are special people with distinguishable features or
characteristics. As such an entrepreneur is result oriented; future oriented;
creative, innovative, has self-confidence; has a good human relations; must be
self-discipline; copies with uncertainty and above all profit oriented.
A
lot of business falls due to the inability of the innovators of such business
to exhibit the time entrepreneurial characteristic in the day to day management
of their business enterprise, hence such business do not stand the test of
time. This is evident in the way and manner in which small and medium scale
business collapse in Nigeria. It is against this background that the research
sees the subject matter of this research: the effect of this entrepreneurial
characteristic on business performance worthy of empirical investigation.
An
effective organization can broadly be defined as one that makes the best use of
its resources to attain high level of performance, thus successfully achieving
its purpose and objectives while also meeting its responsibilities to
stakeholders. There is no single factors, which will guarantee organizational
effectiveness, but the following is a selection of factors which, in one way or
the other, will contribute to success.
v A
clear and well-articulated vision of the future of the organization.
v A
well-defined mission and goals, and strategies to accomplish them.
v A
value system with emphasis on performance, productivity, customer services,
teamwork and flexibility.
v A
powerful management team.
v A
well-motivated, committed, skilled and flexible workforce.
v Continuous
pressure to innovate and grow.
v The
ability to respond fast to opportunities and threats.
1.2 Statement of Problem
Launching
into a business venture without having the basic trade instinct or the
characteristic of an entrepreneur is suicidal. This is so because such an
enterprise cannot stand on the test of time. For instance, an individual who
goes into business initially must face difficulty before the business
break-even. However, people who do not have trait of an entrepreneur would not
be patient enough to nurture a business to a profit-making stage. This is the
reason why so many small and medium scale businesses fail. The inability to
effectively exhibit a basic trade instinct as well as lack of motivation,
goals, and talent for venture creation sequel to the absence of entrepreneurial
characteristics in most business proprietor impedes the performance of business
enterprise in no small way. As such, the subject matter of this research
becomes an empirical issue worthy of investigation.
Nigeria
is a country with numerous entrepreneurs as a result of the abundant human and
natural resources it possesses. The growth of these entrepreneurs in the
country is important to economic growth.
1.3 Objectives
of the study
The
central subject of the study is to examine the effect of entrepreneurial
characteristic of business performance in Nigeria.
The specific objectives are to:
1. Identify
the impact of innovation on the market.
2. Evaluate
the impact of self-belief, hard work and disciplined dedication on business
performance.
3. Identify
the problems militating against entrepreneurs in the performance of their
business.
4. To
proffer solutions to the identified problems.
1.4 Research
Question
To achieve the purpose of the study,
research questions were formulated as follows:
1. What
is the impact of innovation on business performance?
2. What
is the impact of commitment on business performance?
3. What
is the impact of market on business performance?
4. What
is the impact of customers on business performance?
1.5 Research Hypothesis
H1:
Innovation has a positive impact on business performance
H0:
Innovation has a negative impact on business performance
H2:
Commitment has a positive impact on business performance
H0:
Commitment has a negative impact on business performance
H3:
Market has a positive impact on business performance
H0:
Market has a negative impact on business performance
H4:
Customer has a positive impact on business performance
H0:
Customer has a negative impact on business performance
1.6 Significance of the study
The
study will be beneficial to entrepreneurship development; as such the country can
utilize the findings of the research as a basis for policy formulation as
regard entrepreneurship development.
The
study will also contribute to the existing knowledge on entrepreneurship
development. It is also worthy to note that the study can be used as a basis
for further research, as the research can be used as a spring board for further
research as well as a good reference material to students undertaking similar
research.
1.7 Limitation of the study
Limitation
faced in the course of this research includes;
Financial
constraint
Time
constraint
Inadequate
data.
1.8 Scope of the study
The
study covers an empirical examination of the effect of entrepreneurial
characteristics on business performance. The study also identifies the
practical approaches use in developing entrepreneurship as well as the problems
militating against entrepreneurship development.
1.9
Operationalization
X=f(Y)
X=
independent variables
Y=
dependent variables
Entrepreneurial
Characteristics(X) Business Performance(Y)
X1
Innovation
Y1 Market
X2
Adaptability
Y2 Product
X3
Commitment Y3
Customers
X4
Money Management Y4 Capital
X1
Innovation
Y3
Customers
X3
Commitment
Y1 Market
1.10 Definition of terms
v Entrepreneurship:
is an innovative act, which includes endowing existing resources for new wealth
– producing capacity (Afonja, B. 1999). Entrepreneurship can be seen as a
process which involves the effort of an individual (or individuals) in
identifying viable business opportunities in an environment and obtaining and
managing the resources needed to exploit those opportunities.
v Entrepreneur:
as an innovating individual, who initiates and nurtures to growth a new and an
ongoing business organization, where none existed before. He is an individual
who successfully thinks or conceives of a new business concern, organizes or
initiates action to start it, and manages it through its initial problems and
struggles for survival. An individual that identifies develops and brings
vision to life under – condition of risk and a considerable uncertainty
(Bashar, O. 2005)
v Entrepreneurial Characteristic:
These are traits that make an individual an entrepreneur (Tonga, R. 2009).
These are the qualities of a successful entrepreneur.
v Business
Performance: it can be defined as a process or set of
processes for establishing shared understanding about what is to be achieved,
and of managing and developing people in a way which increases the probability
that it will be achieved in the short and longer term. It is about improving
both results and the quality of an organization success.
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