Entrepreneurial Orientation and Customer Satisfaction of Family-owned Business in Lagos State, Nigeria
Publication Date: 28/12/2023
Author(s): Stephen Olajiire Oluwatukesi, L. A. Balogun, Temituope Esimajemite Oluwatukesi, Boluwaji Gbenga Jaiyesimi.
Volume/Issue: Volume 6 , Issue 4 (2023)
Abstract:
This study investigates the effects of entrepreneurial orientation on customer satisfaction of family-owned businesses in Lagos State, Nigeria. The study adopted a cross-sectional survey design and computed a sample size of three hundred and sixty-eight (368) from The Nigerian Association of Small and Medium Enterprises NASME database of registered family businesses of eight thousand three hundred and ninety-six registered family-owned businesses in Lagos State using the Cochran sample size formula. The senior staff and owners of family-owned businesses in Lagos State were purposively selected to fill out the structured questionnaires of the study. The questionnaires were adapted from previous studies and validated via a pilot study conducted in the Oluyole industrial area of Ibadan southwest, Oyo State, Nigeria. The study adopted SPSS version 25 for the descriptive statistics and SmartPLS version 4.0 for the inferential statistics to analyse the data. The study's findings revealed that entrepreneurial orientation influences 31.6% of customer satisfaction, while the remaining 68.4% can be explained by the other exogenous variables different from customer satisfaction. The study concludes that entrepreneurial orientation positively influences the customer satisfaction of family-owned businesses in Lagos State, Nigeria.
Keywords:
Customer Satisfaction, Dissatisfied Customer, Intra-African Trade, Entrepreneurial Orientation, Strategic Orientation, Exogenous Variables.
