Entrepreneurial Orientation Components and Sales Volume of Selected Quoted Consumer Goods Manufacturing Companies in Nigeria

Abstract

Organisational performance is of high importance and occupies a central position among other goals and remains a compensation for sustainable and competitive sales volume. Consumer goods manufacturing industry in Nigeria are experiencing decline in sales volume due to poor entrepreneurial orientation. This study examined the interaction between entrepreneurial orientation components and sales volume of selected quoted consumer goods manufacturing companies in Nigeria. The study adopted cross sectional survey design. The population of the study was 1,551. Total enumeration was used to sample the entire population. A structured 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 analysed using descriptive and inferential statistics. Findings revealed that innovativeness (β = 0.334, t = 4.970, p = 0.000), competitive aggressiveness (β = 0.221, t = 3.715, p = 0.000) and risk taking (β = 0.136, t = 2.044, p = 0.042) have positive and significant effects on sales volume of the selected quoted consumer goods companies in Nigeria. However, proactiveness (β = 0.129, t = 1.733, p = 0.000) and planning flexibility (β = 0.075, t = 1.378, p = 0.169) have a positive but insignificant effect on sales volume of selected quoted consumer goods companies in Nigeria. The study concluded that entrepreneurial orientation (innovativeness, competitive aggressiveness, proactiveness, risk-taking and planning flexibility) had significant effect on sales volume of selected quoted consumer goods companies in Nigeria and recommended that managers should be more aggressive in exploiting opportunities to increase sales volume.

Keywords: Entrepreneurial orientation, Sales volume, Consumer goods companies, Nigeria.

DOI: 10.7176/JRDM/80-03

Publication date: November 30^th 2021