SOCIAL ENTREPRENEURSHIP AND BUSINESS SUCCESS OF FOOD AND BEVERAGE FIRMS IN RIVERS STATE

Abstract

This study investigated the relationship between social entrepreneurship and business success of food and beverage firms in Rivers State. The study adopted a descriptive research design and the population of this study comprised all the twenty-five (25) registered food and beverage firms in Rivers State. 125 respondents were drawn from the population through a census approach in which 5 managers were selected from each of the food and beverage firms in Rivers State however only 110 respondents provided data for the study through questionnaire that was designed in the modified 5-point Likert scale of strongly disagree to strongly agree. Pearson Product Moment Correlation Coefficient was used to test the hypotheses. From the results of the analysis it was revealed that innovation and social networks which are the dimensions of social entrepreneurship positively and significantly relate with market share growth (measure for business success) of food and beverage firms in Rivers State. Based on these findings, it was concluded that innovation and social impact, key dimensions of social entrepreneurship, are significantly related to market share growth in the food and beverage industry in Rivers State. This relationship underscores the importance of these dimensions not just as ethical business practices but as strategic elements that can drive business success. Therefore, the study recommended that, Food and beverage firms in Rivers State should invest in continuous product and process innovation. This could involve adopting new technologies, improving product quality, and implementing more efficient production processes. Innovation should also extend to packaging and delivery methods, which can significantly enhance consumer convenience and appeal.