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Author(s):
Laven Ubandoma Joshua, Agbaeze Emmanuel Kalu (Prof.), Egrinya Francis Ogabo (Ph.D.).
Page No : 1-35
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Economic Environment and Entrepreneurial Development in North Central Nigeria
Abstract
This work sought to determine the impact of Economic Environment (EE) and Entrepreneurial development in North central, Nigeria. The unprecedented factors arising from inconsistencies, to lack of continuity of policies and programmes implementation constitute a lot of constraints that impede on the establishment, growth and development of Small and Medium Enterprises (SMEs) in the North central, Nigeria. The specific objectives of the study were to: (i) Ascertain the extent to which unemployment rate effects start-up business and entrepreneurial development in North central, Nigeria. (ii) Evaluate the extent to which total tax rate effects the growth of business enterprises in North central, Nigeria. (iii) Assess the extent to which domestic interest rate by banks to private sector impact on entrepreneurship development in North central, Nigeria. The study adopted survey research design, and ex-post facto, the population of the study was 18,173 staff made of owner-founder and management staff, from 2,178 private enterprises that registered with the respective state ministries of trade, commerce, industry and tourism in North central, Nigeria. A sample size of 377 was drawn from the population using Krejcie and Morgan (1970), sample size determination. The instrument used for data collection was mixed method: Quantitative method (structured questionnaire) and Ex-post facto (secondary data). The hypothesis were tested using Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) to ascertain the time series properties of the variable for hypothesis one. Hypotheses two and three were tested using simple linear regression. The findings revealed that, to a large extent the listed Economic factors had significant negative relationship with entrepreneurial development in North central, Nigeria. Based on the findings of the study it was recommended that, there should be strategic policy by government and individual put in place to ensure substantive numbers of work force engaged in both private and public sectors; government should encouraged entrepreneurial development by enforcing on financial institutions to issue one-digit interest rate loan to entrepreneurs and business concern to boost business activities in the region. More so the issue of double taxation on entrepreneurial activities should be minimized or avoided to provide a level plane ground for business enterprises to strive, grow and develop in North central, Nigeria.
| 2 |
Author(s):
Chikere Peter (Ph.D.), Renner Blessing Awaji-ima (Ph.D.).
Page No : 36-45
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Innovative Behaviour and Opportunity Recognition in Food and Beverages Firms, Port Harcourt.
Abstract
The study examined innovative behaviour and opportunity recognition of food and beverages firms in Port Harcourt. The study used a correlational research methodology, and the population consisted of 25 food and beverage businesses in Rivers State. The study used a census survey with a managerial staff focus in addition to its population of 25 food and beverage companies. One hundred twenty-five (125) copies of the questionnaire were made available in total. The data collected for this study were analyzed through descriptive and inferential statistics. The Spearman Rank-Order Correlation Technique was employed to test the various hypotheses formulated with the aid of the Statistical Package for Social Sciences (SPSS). From the data generated and analysed, it was empirically discovered that a positive and significant relationship exists between Innovative Behaviour and Opportunity Recognition of food and beverages firms in Port Harcourt. Problem solving and creativity showed a strong positive relationship with s opportunity recognition of food and beverages firms in Port Harcourt. The study concluded that engaging in innovative behaviour will achieve bumper success in many food and beverages firms. Following the conclusion above, the study therefore recommends that; Food and beverages firms in Port Harcourt should adopt problem solving approach to take advantage of market opportunities and improve sales and also food and beverages firms should be creative and innovative, especially through new product development, being first to market with new products.
| 3 |
Author(s):
Chikere Peter (Ph.D.), Blessing Awaji-ima Renner .
Page No : 46-59
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Entrepreneurial Design Thinking and Marketing Performance of Food and Beverage Firms in Port Harcourt, Rivers State
Abstract
The study examined the relationship between entrepreneurial design thinking and marketing performance of food and beverage firms in Port Harcourt, Rivers State. This study adopted a correlational research design, with the population of the study comprising 25 food and beverage firms in Rivers State. Sequel to the population of the study, which is 25 food and beverage firms, the study adopted a census study with a focus on the managerial staff (production manager, quality control manager, marketing manager, and procurement manager). The questionnaire was distributed in a frame of four (4) copies per firm. A total of one hundred (100) copies of the questionnaire were distributed. The reliability of the instrument was determined using Cronbach's alpha test and it stood at 0.88, higher than the benchmark of 0.7. The data collected for this study were analyzed through descriptive and inferential statistics. The Spearman Rank-Order Correlation Technique was employed to test the various hypotheses formulated. The empirical results of this study confirmed that all the dimensions of entrepreneurial design thinking (creativity, and problem solving) were found to be significant predictors of marketing performance as measured by sales growth. Since all the dimensions of entrepreneurial design thinking are significant predictors of marketing performance, it is therefore concluded that entrepreneurial design thinking has the potential of improving marketing performance of food and beverage firms in Port Harcourt, Rivers State. Based on the findings and conclusions, the study recommends that: food and beverage firms should come up with creative designs, novel products and services that will catch the customer’s attention and improve marketing performance. Also, food and beverage firms, especially those facing different challenges, should adopt a problem solving approach to enable them to improve their sales growth.
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Author(s):
Obonetse Fulu .
Page No : 60-69
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Assessing the Utilization and Effectiveness of Content Marketing in Business Practices in Botswana
Abstract
The study ascertains the extent to which content marketing is used by businesses. The objective of the study was to ascertain the extent to which content marketing is used by businesses. The study employed the quantitative research method where the data for the study were collected through the survey approach. The regression method was employed to analyse the data collected and it was found that: access to micro content does not significantly influence individual trust for a product compared to access to large content. However, access to content, online presence, age, and gender significantly influence consumer trust. Content marketing, higher online purchasing behavior, and higher consumer age significantly increase trust for a product. Males were less likely to have reduced trust compared to females. The research suggests that modern consumers are more concerned with the quality and dependability of information than its length. Therefore, businesses should focus on providing accurate, transparent, and dependable information. Content marketing plays a crucial role in fostering consumer confidence, as it increases trust by providing thorough and trustworthy information. This highlights the importance of digital marketing methods and the need for businesses to invest in informative, precise, and interesting content marketing efforts to increase brand trust and customer loyalty.
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Author(s):
Obonetse Fulu.
Page No : 70-85
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Strategic Foundations: Unravelling the Role of Business Strategy and Structure in Fostering SME Success in Botswana
Abstract
The study investigated the influence of business strategy and structure on SMMES business success in Botswana. The study was guided by market orientation theory which holds significant importance within the field of marketing research, as it underscores the need for organisations to align their internal processes, products, as well as strategies with the current market conditions. The quantitative research approach was employed, and the Poisson regression employed to analyse the survey data collected. It was found that strategic planning expertise, the application of a corporate strategy, employee inputs, and adherence to rigorous standards are all associated with a large rise in profitability. The results also highlight the value of a cooperative strategy within the company. When staff members participate in decision-making, they develop a sense of ownership and dedication to the company's success, which leads to increased commitment and output. Customer experiences, operational effectiveness, and ultimately the bottom line is all positively impacted by this. The emphasis on adhering to rigid guidelines also emphasises the significance of discipline and uniformity in operations. The study concludes that Botswana's SMMEs should prioritise strategic planning and ongoing skill development to adapt their company operations to changing market needs, so ensuring long-term growth and competitiveness. Policymakers and business support institutions should cultivate a cooperative environment that promotes employee involvement in decision-making and the implementation of strict operational benchmarks to stimulate innovation, productivity, and responsibility within the small, medium, and micro enterprise (SMME) sector.
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Author(s):
Ibrahim Musa, El-Yaqub Ahmad. B., Sule Magaji.
Page No : 86-101
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Impact of Commercial Bank’s Credits on Manufacturing Output in Nigeria: An Ex-post Factor Research Design Approach
Abstract
This study employed an empirical analysis to investigate the impact of commercial banks' credit (CBC) on manufacturing sector output (MSO) from 1992 to 2021. The approach utilised is Ex-Post Facto Research Design. The study’s findings indicated that CBC has a beneficial and substantial influence on MSO. The long-term value of CBC has a positive and substantial impact on MSO. A 1% rise in Credit to Small and Medium Businesses (CSM) led to a 0.1866% increase in MSO. Conversely, a unit increase in deposit interest rate (DINR) resulted in a 0.0081% fall in MSO. In the long run, a unit increase in Government Capital Expenditure (GOV) caused a 0.1482% increase in MSO. Therefore, through its monetary authority, the Government makes an efficient policy that allows the manufacturing sector and small and medium enterprises to access bank credit at low interest rates.
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Author(s):
Christabel D. Brownson, Abasi-ene O. Bassey.
Page No : 102-120
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Innovative Behaviour: Male Vs Female Entrepreneurs in Akwa Ibom State
Abstract
It is observed that there are more male entrepreneurs engaged in entrepreneurial activities than female entrepreneurs given a number of factors that hinder the female entrepreneurs. However, does this translate to the male entrepreneurs being more innovative than the female entrepreneurs? This study aims to examine the innovative behaviour of male and female entrepreneurs in Akwa Ibom State. Using a survey design and a purposive sampling method, 250 respondents were examined for the study and the data analysed using descriptive statistics revealed the findings that both male and female entrepreneurs have similar levels of innovative behaviour, although the female entrepreneurs exhibited a slightly higher level of innovative behaviour in the areas of product innovation, process innovation, market innovation and raw materials innovation. The result indicated that the male entrepreneurs’ process innovation led to a slightly speedier delivery of their goods compared to the female entrepreneurs and that their goods stand out against competitors compared to the female entrepreneurs. In organisational restructuring, both male and female entrepreneurs have a similar level of innovative behaviour, however, the female entrepreneurs tend to reorder each division of their businesses to ensure employee’s effectiveness more than the male entrepreneurs and profit tend to increase more for the female entrepreneurs who reorder their businesses compared to the male entrepreneurs. Hence, more female citizens in the state need to be encouraged to startup and to stay creative and innovative.
