Entrepreneurial Orientation and Innovative Performance of Selected Manufacturing Firms in Lagos State, Nigeria


  • Idris Adegboyega Onikoyi Osun State University
  • Omoshaewa Maryam Fetuga Fountain University Osogbo
  • Olufemi Samuel Omoyele Osun State University
  • Callistus Destiny Odeh Osun State University


Enterprises are leaning toward entrepreneurship to foster constant innovation, rapid development, wealth generation, strategic advantage, increased performance and effectiveness. This study investigated the impact of entrepreneurial orientation on the innovative performance of selected manufacturing firms in Lagos State, Nigeria. The survey research design was adopted because the study focused on eliciting opinions from respondents about the variables of the study. The population of this study consisted of 5592 top and middle-level management employees of the five selected consumer goods firms listed on the Nigerian Exchange Group which, are PZ Cusson Nigeria, Unilever Nigeria, UAC Foods Limited, Nestle Nigeria and Honeywell Flourmill. The first hypothesis findings revealed a significant positive association between competitive aggressiveness and innovative performance (R2 = 0.524, p=0.000 < 0.05). Hypothesis two showed a significant positive association between pro-activeness and innovative performance (R2 = 0.554, p=0.000 < 0.05). The conclusion of the study is that all the dimensions of entrepreneurial orientation: competitive aggressiveness, pro-activeness, risk-taking and autonomy had an impact on innovative performance and the moderating variable competitive environment also has an impact on innovative performance. Therefore, the study recommends that consumer goods manufacturing firms should make continuous and intense efforts to increase their competitive aggressive stance by out-performing their industry rivals in all business activities.


Author Biographies

Idris Adegboyega Onikoyi, Osun State University

Senior Lecturer


Omoshaewa Maryam Fetuga, Fountain University Osogbo



Olufemi Samuel Omoyele, Osun State University

Senior Lecturer


Callistus Destiny Odeh, Osun State University

Assistant Lecturer


Campos, H. M, Acuna, L.S.A, Parra, J.P.N & Valenzuela, F.A.A (2013). Entrepreneurial orientation and opportunities. Journal of Management, and Innovation, 9 (3), 45-48.

Corbo L (2012). Collaborative change: environmental jolt, network (re) design and firm performance. Strategic Management Journal, 24, 541-548.

Covin, J. G., Slevin, D. P., & Schultz, R. L. (1994). Implementing strategic missions: Effective strategic, structural and tactical choices. Journal of Management Studies, 31(4), 481–505.

Drucker, P. F. (1985). The discipline of innovation. Harvard Business Review, 63(3), 67-72.

Entebang, H., Harrison, R. T., & Cyril de Run, E. (2010). Entrepreneurial orientation of public enterprises in Malaysia. Business Strategy Series, 11(2), 75-77.

Etim, J. J., Adabu, M. U., & Ogar, C. A. (2017). Influence of entrepreneurial orientation as survival strategy for small and medium enterprises: The Nigeria experience. International Journal of Economics, Commerce and Management, 5(8), 502-518.

Ferreira, J., & Azevedo, S. G. (2008). Entrepreneurial orientation and growth of firms: Key lessons for managers and business professionals. Problems and Perspectives in Management, 6(1), 82-88.

Forlani, D., & Mullins, J. W. (2000). Perceived risks and choices in entrepreneurs' new venture decisions. Journal Business Venturing, 15(4), 305-322.

Garcia, R., & Calantone, R. (2002). A critical look at technological

innovation typology and innovativeness terminology: a literature review.

The Journal of Product Innovation Management, 2(1)110-132.

Gasse, Y.(2011). Entrepreneurial beliefs and intentions: A cross-cultural study of university students in seven countries. International Journal of Business, 16(4), 303


Gathenya, J. W. (2012). Entrepreneurial strategic planning practices and firm performance among Kenyan women led small and medium enterprises. Unpublished PhD thesis Jomo Kenyatta University of Agriculture and Technology.

Haider, S. H., Asad, M., & Fatima, M. (2017). Responsibility of global corporations towards human resource to attain competitive advantage: A review. Journal of Research in Administrative Sciences (ISSN: 2664-2433), 6(2), 8-11.

Hossain, M. U., Rahman, A. & Al Asheq, A. (2019). The role of entrepreneurial orientation to SME performance in Bangladesh. International Journal of Entrepreneurship, 23(1), 1-6.

Ireland, R. D., Covin, J. G., & Kuratko, D. F. (2006). Conceptualizing corporate entrepreneurship strategy. Entrepreneurship Theory and Practice, 33(1), 19-46.

Jansen, M., Lennon, C., & Piermartini, R. (2016). Income volatility: whom you trade with matters. Review of World Economics, 152(1), 127-146.

Joshi, M. P., Das, S. R., & Mouri, N. (2015). Antecedents of innovativeness in technology‐based services (TBS): peering into the black box of entrepreneurial orientation. Decision Sciences, 46(2), 367-402.

Kim, P. H., Aldrich, H. E., & Keister, L. A. (2006). The impact of financial, human, and cultural capital on entrepreneurial entry in the United States. Small business economics, 27(1), 5-22.

Kosa, A., Mohammad, I., & Ajibie, D. (2018). Entrepreneurial orientation and venture performance in Ethiopia: the moderating role of business sector and enterprise location. Journal of Global Entrepreneurship Research, 8(1), 1-17.

Kuratko, D. F. (2009). Introduction to entrepreneurship, (8th Ed.). South-Western Centage, Learning.

Kuratko, D. F., Ireland, R. D.,& Hornsby, J. S. (2004). Corporate entrepreneurship behaviour among managers: A review of theory, research, and practice. Advances in Entrepreneurship, Firm Emergence and Growth, 7(04), 7-45.

Kuratko, D. F., Hornsby, J. S., & Covin, J. G. (2011). Diagnosing a firm's internal environment for corporate entrepreneurship. Business Horizons, 57(1), 37-47.

Landes, D. S., Mokyr, J., & Baumol, W. J. (Eds.). (2012). The invention of enterprise: Entrepreneurship from ancient Mesopotamia to modern times. Princeton University Press.

Leko-Simic, M., & Horvat, J. (2006). Risk taking propensity and export performance of Croatian exporters. Managing Global Transitions, 4(4), 313.

Lindgreen, A., Hingley, M. K., Grant, D. B., & Morgan, R. E. (2012). Value in business and industrial marketing: Past, present, and future. Industrial Marketing Management, 41(1), 207-214.

Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135-172.

Lumpkin, G. T., & Dess, G. G. (2001). Linking two dimension of

entrepreneurial orientation to firm performance: the moderating role of

environment and industry life cycle. Journal of Business Venturing, 16, 429-451.

Mario, F. (2013). Firm resources and entrepreneurial orientation as determinants for collaborative entrepreneurship. Journal of Social Entrepreneurship, 7(1), 1-24.

Mehrdad, H. O. (2011). A study of factors affecting entrepreneurship in lorestan province with an emphasis on education. Journal of New Approaches in Educational Administration, 2(8), 97-114.

Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Management Science, 29, 770-791.

Milling, P. M., & Stumpfe, J. (2000, August). Product and process innovation: A system dynamics-based analysis of the interdependencies. In 18th international conference of the system dynamics society sustainability in the third millennium, Bergen, Norway.

Mohammed, H., Mohammed, S., & Halimu, B. L. ( 2012). Relationship between Entrepreneurial orientation, firm resources, SMEs branding and firm is innovation the missing link? American Journal of Industrial / Business Management, 2, 153-155.

Musawa, M. S., & Ahmad, k. (2019). A Conceptual framework for the Influence of Environmental dynamism on marketing innovation performance in Small and Medium Enterprises. Journal of Economics and Management Systems, 4, 187-203.

Namusonge, G.S., Muturi, W. & Olaniran, o. (2016). The role of innovation on performance of firms on Nigerian stock exchange. European Journal of Research and reflection in Management sciences, 4 (1), 40-50.

Nigerian Exchange Group, NGX, (2021). Annual Financial Report of Quoted Firms.

Nordqvist, M., Habbershon, T. G., & Zellweger, T. (2009). A qualitative research approach to the study of transgenerational entrepreneurship. In Transgenerational entrepreneurship. Edward Elgar Publishing.

Ndubisi, N. O., & Agarwal, J. (2014). Quality performance of SMEs in a developing economy: direct and indirect effects of service innovation and entrepreneurial orientation. Journal of Business & Industrial Marketing.

Ofobruku, S. A., & Obia, E. (2012). Quality Assurance In The Hospitality Industry: Nigeria Experience.HATMAN Journal of Hospitality and Tourism, 2(1), 118-124.

Okangi, P. (2019). The impacts of entrepreneurial orientation on the profitability growth of construction firms in Tanzania. Journal of Global Entrepreneurship Research, 9(1), 1-23.

Okunbanjo, O. I., Adewale, M. O., & Akinsulire, H. O. (2017). Effect of Entrepreneurs’ Character On Smes Performance In Lagos State. Journal of Management and Science, 7 (3), 17- 29.

Olowofeso, E., & Ale, O.A. (2019). Entrepreneurial orientation and performance of hospitality industry in Akure, Nigeria. Journal of Hospitality and Tourism, 2(1), 119-134.

Oni, O., Agbobli, E., & Iwu C. (2019). Entrepreneurial orientation and performance of small business in Vryburg Region North West Province South Africa. Journal of Reviews on Global Economics, 8(1), 63-71.

Olawoye, O. (2016). Role of entrepreneurial orientation on performance of firms in the Nigerian stock exchange.Ph.D thesis Submitted in partial fulfillment for the degree of Doctor of Philosophy in Entrepreneurship in the Jomo Kenyatta University of Agriculture and Technology.

Otache, I., & Mahmood, R. (2015). Corporate entrepreneurship and business performance: The role of external environment and organizational culture: A proposed framework. Mediterranean Journal of Social Sciences, 6(4 S3), 524-531.

Park, B. I., & Xiao, S. (2020). Is exploring dynamic capabilities important

for the performance of emerging market firms? The moderating effects of

entrepreneurial orientation and environmental dynamism. International

Studies of Management & Organization, 1-17

Pearce, J., Fritz, D., & Davis, P. (2010). Entrepreneurial orientation and the performance of religious congregations as predicted by rational choice theory. Entrepreneurship Theory and Practise,34(1), 219-248.

Rauch, A., Wiklund, J., Lumpkin, G. T. and Frese, M., (2009), Entrepreneurial orientation and business performance: An assessment of past research and suggestions for the future. Entrepreneurship Theory and Practice, 33 (3), 761-787.

Rauch, A., Wikund, J., Freese, M., & Lumpkin, G. T (2004). Entrepreneurial orientation and business performance; cumulative empirical evidence. Frontiers of Entrepreneurship Research, 164-177.

Reulink, R. B. J. (2012). Strategic orientation and innovation performance at Dutch manufacturing SME’s: The overrated role of Market Orientation and Entrepreneurial Orientation (Master's thesis, University of Twente).

Shan, P., Song, M., & Ju, X. (2016). Entrepreneurial orientation and performance: Is innovation speed a missing link?. Journal of Business Research, 69(2), 683-690.

Shavarini, S. K., Salimian, H., Nazemi, J., & Alborzi, M. (2013). Operations strategy and business strategy alignment model (case of Iranian industries). International Journal of Operations & Production Management.

Soininen, J. S, (2013). The impact of global economic crisis on SMEs: Does

entrepreneurial orientation matter? Management Research Review, 35(10), 33-941.

Schumpeter, J. A. (1934). The theory of economic development. Harvard University Press.

Sumon, B. K., Fraser, S.,& Wright, M. (2010). What do we know about entrepreneurial finance and its relationship with growth?. International small business journal, 33(1), 70-88.

Wales, W. J. (2016). Entrepreneurial orientation: A review and synthesis of promising research directions. International Small Business Journal, 34(1), 3-15.

Wales, W. J., Gupta, V. K., & Mousa, F. T. (2013). Empirical research on entrepreneurial rientation: An assessment and suggestions for future research. International small business journal, 31(4), 357-383.

Wang, C. L. (2008). Entrepreneurial orientation, learning orientation, and firm performance. Entrepreneurship theory and practice, 32(4), 635-657.

Wong, K. (2012). The influences of entrepreneurial orientation on product advantage and new product success. Journal of Chinese Entrepreneurship, 4 (3), 243-262.

Wiklund, J., & Shepherd, D. (2005). Entrepreneurial orientation and small business performance: a configurational approach. Journal of Business Venturing, 20(1), 71-91.

Yeniaras, V., & Unver, S. (2016). Revisiting the mediating effect of entrepreneurial behaviour on proactiveness–performance relationship: the role of business ties and competitive intensity. European Management Review, 13(4), 291-306.

Yamane, T. (1973). Research Methodology/Sample Size. Florida: University of Florida.




How to Cite

Onikoyi, I. A., Fetuga, O. M., Omoyele, O. S., & Odeh, C. D. (2023). Entrepreneurial Orientation and Innovative Performance of Selected Manufacturing Firms in Lagos State, Nigeria. The Journal of Accounting and Management, 13(1), 58–71. Retrieved from https://dj.univ-danubius.ro/index.php/JAM/article/view/2241