Exploring Entrepreneurial Orientation (EO) and Performance among Small and Medium Scale Enterprises (SMEs) In Nigeria

Abstract

This research is designed to examine the influence of entrepreneurial orientation (EO) on performance of Small and Medium Scale Enterprises (SMEs). The study was carried out in the South-South Geopolitical Region of Nigeria. The proxies for EO were innovativeness, risk-taking, proactiveness, autonomy and competitive aggressiveness. This study used a survey research approach and a sample size of 1308 SMEs was selected. Copies of an adopted questionnaire were administered to the respondents who were owners/managers of the selected SMEs using the stratified random sampling method. Pearson's correlation analysis and hierarchical multiple regression analysis were used to analyze the data collected. The result of the research revealed that entrepreneurial orientation (EO) has significant influence on performance of SMEs in Nigeria. Consequently, it was recommended that SMEs' owners/managers should use the EO dimensions that best suit their firm's strategic emphasis, taking into account aspects such as the organization's age and/or size, industry influence, and the specific setting in which the firm works.