IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 8 NO. 2 2023
DOI: https://doi.org/10.56201/wjeds.v8.no2.2023.pg74.89

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An investigation of Strategic Orientations and Sustainable Performance of Indigenous Businesses in Kwara State, Nigeria

Olowofeso, Edamisan and Ale, Olatide Aarinola

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Abstract

The aims of the study investigated how strategic orientations affect the sustainable performance of indigenous businesses in Kwara State, Nigeria, using primary data from the owner of the business. Inferential statistics through the use of the Pearson moment correlation coefficient was used to establish the relationship between the variables while Multiple Linear Regression, was used to test the strength of the relationships, the study shows that the three constructs of the independent variable (entrepreneurial, market and technology orientations) have significant effects on the sustainable performance (economic, social and environmental performance). Therefore, this means that indigenous businesses that are committed to sustainable performance consider the three strategic orientations as strengths in their operations. Firms that are less entrepreneurially, market, and/or technology-oriented, on the other hand, are less likely to adopt sustainable performance. In this regard, indigenous businesses may see sustainability concerns as a business opportunity rather than a source of external pressure. Overall, this could imply that micro and small businesses approach sustainability issues differently than large businesses and that this, in part, explains the presumed lower levels of sustainability work in micro and small businesses compared to larger enterprises. Thus, the study recommends the adoption of the three strategic orientations by micro-business owners as they are key predictors for business sustainability as well as a factor that lead to sustainable performance.

keywords:

Entrepreneurial Orientation, Indigenous Businesses, Market Orientation, Technology Orientation, Strategic Orientations, Sustainable Performance.

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References:

Entrepreneurial Orientation, Indigenous Businesses, Market Orientation,
Technology Orientation, Strategic Orientations, Sustainable Performance.

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