Effect of Entrepreneurial Characteristics on the Performance of Food Manufacturing Firms in Delta State, Nigeria
Keywords:
Entrepreneurial Characteristics, Performance, Entrepreneurial Competitiveness, Market Share, Opportunity Recognition, Firm Expansion, Manufacturing SectorAbstract
This study examined the effect of entrepreneurial characteristics on the performance of food manufacturing firms in Delta State. The study was anchored on the Resource-Based View (RBV). The study adopted a survey research design, utilising structured questionnaires, as the primary data source. A population of 11,400 employees across food manufacturing firms in six major towns in Delta State was considered, with a sample size of 371, determined using Krejcie and Morgan’s (1970) formula. Data validity was ensured through face and content validity, while reliability was confirmed using Cronbach’s alpha which exceeded the acceptable threshold. Statistical analysis, including frequency distribution and regression, yielded significant findings. Entrepreneurial competitiveness showed a stronger effect on market share (r = 0.985, R² = 0.970, F = 10,870.0, p < 0.000) and opportunity recognition had a statistically significant effect on firm expansion (r = 0.993 R² = 0.986, F = 2.416E4, p < 0.000). In conclusion, entrepreneurial characteristics significantly affect key performance indicators in food manufacturing firms. The study recommended among others, fostering a culture of entrepreneurial competitiveness to achieve sustained growth and competitive advantage.