CORPORATE ENTREPRENEURSHIP AND BUSINESS SUCCESS OF QUOTED CONSUMER GOODS MANUFACTURING FIRMS IN SOUTH-SOUTH NIGERIA

Abstract

This study explored the relationship between corporate entrepreneurship and business success of quoted consumer goods manufacturing firms in Nigeria. Six (6) research questions and hypotheses were developed to address the objectives of the study. The study adopted the positivist research philosophy and correlational research design. The population of this study consisted of all the 21 quoted consumer goods manufacturing firms in Nigeria. The census sampling technique was adopted. The unit of analysis consisted of marketing managers, sales managers, innovation managers, operational managers and distribution managers. A structured questionnaire was used to obtain data from the respondents. The data collected were analyzed statistically while the Pearson Correlation Coefficient (r) was used to test the hypotheses. The bivariate analysis was carried out using the SPSS version 24.0. The findings revealed that innovation was significant predictor of sales growth and profitability growth of quoted consumer goods manufacturing firms in Nigeria. Proactiveness was also found to be a significant predictor of sales growth and profitability growth of quoted consumer goods manufacturing firms in Nigeria. Risk taking was equally reported to be a significant predictor of quoted consumer goods manufacturing firms in Nigeria. Since innovation, proactiveness and risk taking are significant predictors of sales growth and profitability growth, it is therefore concluded that corporate entrepreneurship is significantly related to business success of quoted consumer goods manufacturing firms in Nigeria. Therefore, it is recommended that quoted consumer goods manufacturing firms in Nigeria especially those that are yet to embrace corporate entrepreneurship should practice the concept in their organization as it would ensure business success.