Assessing the Effect of Entrepreneurial Innovativeness on Marketing Performance of Small and Medium Enterprises in Ekiti State, Nigeria
Main Article Content
Abstract
Innovation plays a crucial role in reinforcing the competitive advantage of firms. To be successful in a keenly competitive business environment, innovativeness is imperative and sine qua non to the marketing performance of the small business in particular. This study therefore assesses the effects of entrepreneurial innovativeness on marketing performance of small and medium enterprises in Ekiti State, Nigeria. The research employed a descriptive survey research design. Using systematic and purposive sampling techniques, eight (8) local government areas (LGAs) in Ekiti state, Nigeria were selected for the study from which the sample were drawn. These LGAs were selected because they have the highest number of registered small businesses in the State. With the aid of proportionate sampling technique, 99, 35, 37, 29, 34, 62, 23 and 64 small businesses were selected from the eight previously selected LGAs respectively, totaling 383. Primary data used for the study were collected with the aid of semi-structured questionnaire. The analytical techniques employed for data analyses were means, standard deviation and multiple regression. Findings from the analysis revealed a significant and positive relationship between entrepreneurial innovativeness and marketing performance of small and medium enterprises especially in Ekiti State, Nigeria. The study implied that the owners and managers of small and medium enterprises should improve on their innovative drive in order to be successful and remain competitive.
Article Details
Section
References
1) Adesanya, O. D., Iyiola, O. O., Borishade, T. J., Dirisu, J. I., Olokundun, M. A., Ibidunni, A. S., &Omottoyinbo, C. A. (2018). Entrepreneurial orientation and business performance of non-oil exporting SMEs in Lagos State, Nigeria, International Journal of Entrepreneurship, 22(3)1-7
2) Alyahyaei, A., Husin, N. A., & Supian, C. (2020). The Impact of innovation on the performance of SMEs in Oman. International Journal of Innovation, Creativity and Change, 13(9), 961-976.
3) Aroyeun, T. F., Adefulu, A. D., &Asihkia, O. U. (2019). The effect of entrepreneurial orientation on performance of micro small and medium enterprises (SMEs). International Journal of Business and Management Invention (IJBMI), 8(1), 16-27.
4) Ayepa, N. A., Rosemond, B., & Mavis, S. B. (2019). Effects of innovativeness and firm resources on the growth of small enterprises in the Ga South Municipality in Ghana. Ghana Journal of Development Studies, Vol. 16 (1), 1-21.
5) Ayo-Balogun, A. O., & Ogunsanwo, A. O. (2019). Impact of small and medium enterprises on the growth of Nigerian economy, 1st National Conference of WITED, Ilaro Chapter. The Federal Polytechnic, Ilaro August 13-16, 371-382.
6) Duru, I. U., Ehidiamhen, P. O., & Chijioke, N. J. (2018).Role of entrepreneurial orientation in the performance of small and medium enterprises: evidence from federal capital territory, Abuja, Nigeria. Asian Journal of Economics, Business and Accounting, 6(1), 1-21.
7) Etim, J. J., Adabu, M. U., & Ogar, C. A. (2017). Influence of entrepreneurial orientation as survival strategy for small and medium enterprises. International Journal of Economics, Commerce and Management, 5(8), 502-518
8) Etuk, S.G. Usani, N. E. Udoh, I. S. (2022). Micromarketing and customer satisfaction of transportation networking companies in Uyo, Akwa Ibom State, Journal of Humanities Insights, 6 (3): 22-35. DOI: 10.22034/JHI.2022.331222.1058.
9) Edamisan, O., & Aarinola, A. O. (2019). Entrepreneurial orientation and performance of hospitality industry. European Journal of Business and Management, 11(2), 58-65.
10) Fred, P. O. (2019). The impacts of entrepreneurial orientation on the profitability growth of construction firms in Tanzania. 1(7), 1-12.
11) Gartner, W. B. (2001). Is there an elephant in entrepreneurship? Blind assumptions in theory development. Entrepreneurship Theory and practice, 25(4), 27-39.
12) Helmy, I., Adawiyah, W. R., & Setyawati, H. A. (2020). Fostering frontline employees’ innovative service behavior: the role of workplace friendship and knowledge sharing process. Organizacija, 53(3), 185-197.
13) Hossain, M. U., & Ahmed, A. A. (2019). The role of entrepreneurial orientation to SME performance in Bangladesh. International Journal of Entrepreneurship, 23(1), 1-6
14) Jorg,F., & Christoph, L. S. (2020). The impact of entrepreneurial orientation on the performance and speed of internationalization. Journal of entrepreneurship, management and innovation,2(1), 1-18.
15) Kimutai, G. A. B. (2018). The influence of entrepreneurial innovativeness on firm performance among small and medium-sized enterprises in Kenya. International Journal of Small Business and Entrepreneurship Research, 6(1), 15-30.
16) Meekaewkunchorn, N., Szczepańska-Woszczyna K., Muangmee, C., Kassakorn, N., & Khalid, B. (2021). Entrepreneurial orientation and SME performance: The mediating role of learning orientation. Economics and Sociology, 14(2), 294-312.
17) Mohammed, H. A., &Abdulkarim, A. A. (2017). The impact of innovation on small and medium enterprises performance: Empirical evidence from Hargeisa, Somaliland.International Journal of Academic Research in Business and Social Sciences, 7(8), 24-28.
18) Mohmmed, F., Shehnaz, T.,& Constance Van, H. (2018). Entrepreneurial Innovativeness and Its Impact on SMEs Performances. International Journal of Entrepreneurship, 22(3), 1-17.
19) Onikoyi, I. A., Ajayi, E. O., Aje, C. O., Raheem, A. J., and Akintayo, A. A. (2021). Strategic management and organisational performance in Cadbury Nigeria Plc. International Journal of Business and Management Review, 9(2), 1-21.
20) Olanrewaju, E. A. (2020). Entrepreneurial orientation and performance of banks in Nigeria. Social science Journal, 12(4), 1-24.
21) Olubiyi, T. O., Egwakhe, A. J., Amos, B.,& Ajayi, A. A. (2019). Effect of entrepreneurial orientation (EO) on the profitability of SMEs in Lagos State, Nigeria. IOSR Journal of Business and Management (IOSR-JBM), 21(6), 42-54.
22) Onyenma, O. U., Tamunomiebi, M. D. & Mark, J. (2020). Calculated risk taking and performance of small and medium enterprises in Rivers and Bayelsa states of Nigeria. International Journal of Latest Research in Humanities and Social Science (IJLRHSS) 3(9), 17-23
23) Oyeku, O. M., Oduyoye, O., & Elemo, G. N. (2020). Effect of entrepreneurial orientation, entrepreneurial self-efficacy and environmental uncertainty on entrepreneurial success. International Journal of Small Business and Entrepreneurship Research, 8(4), 34-67.
24) Pedersen, T. H. (2020, September). Organizational innovation: The contributions of Joseph Schumpeter. In ECIE 2020 15th European Conference on Innovation and Entrepreneurship. Academic Conferences limited, 446-452.
25) Shaver, K. G., & Scott, L. R. (1992). Person, process, choice: The psychology of new venture creation. Entrepreneurship theory and practice, 16(2), 23-46.
26) Sampson, E. A., Etuk, S. and N. E. Usani (2022). Service quality and patient satisfaction in public hospitals in Akwa Ibom State, Nigeria. Journal of Emerging Trends in Marketing and Management, I (1):141-150.
27) Thornton, P. H. (1999). The sociology of entrepreneurship. Annual review of sociology, 25(1), 19-46.
28) Usani, N. E., & Eko, H. A. (2021). Personal selling strategy and firms’ productivity: A study of selected microfinance banks in Calabar, Cross River State. International Journal of Marketing and Business Communication, 10 (3): 30-36.
29) Usani, N.E., Etuk, S.G., Ekpenyoung, V. (2021). Integrated marketing communication and marketing performance of hotels in Calabar, Cross River State. World Academics Journal of Management 9(4), 33-38.
30) Zulfikar, R. (2018). Marketing performance influenced by market orientation thro-ugh value creation. Advances in Social Science, Education and Humanities Research, 225, 291-297.