IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 10 NO. 2 2025
DOI: 10.56201/wjeds.v10.no2.2025.pg132.157

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Corporate Venturing and Manufacturing Firms’ growth: Evidence from Selected Companies in the Benue State

Yua Henry

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Abstract

The study examined the effect of corporate venturing on growth of selected manufacturing firms in Benue State. Three critical dimensions of corporate venturing (innovativeness, pro-activeness and risk taking) were used. The study adopted a survey research approach, using questionnaire administration for data generation. The data were analyzed using descriptive and inferential statistics. Regression analysis was used for test of hypothesis. Findings showed that the three dimensions of corporate entrepreneurship (innovativeness, pro-activeness and risk taking) had significant/positive effect on growth of selected manufacturing firms in Benue State. Building the culture of corporate entrepreneurship in a firm has great potentials for sustaining growth. Corporate entrepreneurship has positive and significant effect on growth of manufacturing firms in Benue State. The study then recommends, amongst others, that manufacturing firms should promote organizational culture/values which promote innovativeness by encouraging more novel ideas generation from employees; this will thus lead to new product/services development that meets market/industry needs hence enhancing market share/sales volume.

keywords:

innovativeness, manufacturing, pro-activeness, risk taking, venturing

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