Entrepreneurial Orientation and Market Share of Selected Quoted Consumer Goods Manufacturing Companies in Nigeria
Keywords:Entrepreneurial Orientation, Market Share, Consumer Goods Companies, Nigeria
Firm performance is fundamental to businesses considering its role in assisting organisations to realize their goals and achieve successes. Consumer goods manufacturing industry in Nigeria are experiencing decline in performance like profitability, market share, sales growth, competitive advantage, and productivity resulting from poor application of entrepreneurial orientation measures. This study examined the interaction between entrepreneurial orientation and market share of selected quoted consumer goods manufacturing companies in Nigeria.The study adopted cross sectional survey research design. The population of the study was 1,551of twelve (12) quoted consumer goods manufacturing companies in Nigeria. Total enumeration was used to sample the entire population. A self-developed structured and validated questionnaire was used for data collection. The Cronbach’s alpha ranges between 0.721 and 0.892. The response rate was 90.5%. Data were analyzed using descriptive and inferential statistics (Multiple and Hierarchical regression analysis).Findings revealed that entrepreneurial orientation components had significant influence on market share of selected quoted consumer goods companies in Nigeria (Adj. R2 = 0.791; F (5,441) = 339.129, p= 0.000). The study concluded that entrepreneurial orientation (innovativeness, competitive aggressiveness, proactiveness, risk-taking and planning flexibility) had significant effect on market share of selected quoted consumer goods companies in Nigeria and recommended that managers of selected quoted consumer goods manufacturing companies should practice entrepreneurial orientation ideologies to be able to be proactive and competitive enough to further boost the market portion of quoted consumer goods companies.