Corporate Entrepreneurship: Challenges of Entrepreneurial Development in Fast-moving Consumer Goods Companies in South-West Nigeria
No Thumbnail Available
Date
2017
Journal Title
Journal ISSN
Volume Title
Publisher
Departments of Accounting & Finance and Business Administration, Fountain University, Osogbo, Nigeria
Abstract
The rate at which companies shut down their operations in developing countries requires the need to examine the challenges of entrepreneurial development in Fast Moving Consumer Goods Companies in South-West Nigeria. This study, therefore: identifies the challenges of entrepreneurial development; and examines the relationship between employee intrapreneurial behaviour and organizational performance. In an attempt to achieve these objectives, two hundred and five (205) respondents were sampled from junior staff to management to executive level within the key drivers in the fast-moving consumer goods in South-West Nigeria. Findings from the study revealed that employee innovation (Pearson Correlation =.958, p<0.001), risk-taking (Pearson Correlation = 0.947, p<0. 001), educational attainment (Pearson Correlation = 0.941, p<0.00), desire for autonomy (Pearson Correlation =.884, p<0.001), proactiveness (Pearson Correlation 0.848, p<0.001) and internal locus of control (Pearson Correlation = .824, p< 0.0001) have statistically significant relationship with performance. The study therefore recommended that management should be cognizant of the inability to recognize and exploit business opportunities, poor communication channels, and the inability to change from the present status of operation. Also, companies should provide a supportive environment that will foster risk-taking. employee innovation, proactiveness, desire for autonomy, internal locus of control, and educational attainment.
Description
Keywords
Entrepreneurial development, Organization performance, South-West Nigeria, Employees' entrepreneurship
Citation
Omolabi, I., Amosa, J. R. & Suleiman A. A. (2017). Corporate Entrepreneurship: Challenges of Entrepreneurial Development in Fast Moving Consumer Goods Companies in South-West Nigeria. Oshogbo Journal of Management (OJM) 2(2): 65-79, Published by the Department of Accounting and Finance, and Business Administration, Fountain University Oshogbo, Nigeria.