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