IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 9 NO. 7 2023
DOI: https://doi.org/10.56201/ijebm.v9.no7.2023.pg127.143

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Risk-Taking Ability and Organizational Resilience among Small Scale Business in Lagos State

OIKU, Peter Omoyebagbe, Professor. AKANBI, Paul Ayobami

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Abstract

One major feature of a successful entrepreneur is the ability to take risk in business and not just any risk but calculated risk that will improve the business organization financially. Thes study examined the impact of risk-taking ability on organizational resilience among Small and Medium- sized Enterprises (SMEs) operating in Lagos State, Nigeria. One of the major drivers of economic growth in any nation is the small and medium scale enterprise sector. This study adopts a descriptive research design using a sample size of 500 business owners from various SME sectors a self-structured questionnaire was used as the research instrument. The finding of this study shows that there is a positive correlation between risk taking ability of a business organization and organizational resilience. This implies that risk taking positively influence organizational resilience among small and medium scale enterprises in Lagos state. For business development to take place, a calculated level of risk has to be taken.

Risk-taking, Organizational Resilience, Small and Medium Scale Enterprises (SMEs)

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