The Strategic Role of Entrepreneurial Mindset and Culture on Business Performance
AMAHI U. Fidelis (PhD); Ernest Jebolise CHUKWUKA (PhD); OKODUWA Cyprian (PhD)
Abstract
This study is a systematic investigation to examine the strategic impact of entrepreneurial mindset and culture on business performance and also how a problem-solving entrepreneurial mindset could help a business get a competitive advantage in today's fast-paced market to better understand the connection between business performance, culture, and entrepreneurial attitude. Using theoretical frameworks from psychology and business management, this study adopted a systematic review of literature as a research method using Google Scholar, PubMed, Sematic Scholar, and other resources to investigates how fostering entrepreneurial qualities like flexibility and risk-taking can lead to measurable business outcomes like a larger market share, more revenue, and happier customers. The study's conclusion affirms that having an entrepreneurial attitude is not just a personal trait but also a company asset that can be developed. . The study found a strong and clear link or direct connection between the optimal business performance and an entrepreneurial mindset. The study found that having an entrepreneurial mindset is crucial for fostering business success, particularly in startups where resources and stability are often limited. The findings demonstrated that qualities like inventiveness, risk-taking, perseverance, and continuous learning not only encourage innovation but also help firms get over operational and financial challenges. The study also concludes that every company that achieves physical success did so after first achieving mental success. The study made strategic recommendations based on its findings that startup ecosystems and entrepreneurs must invest in mindset development in order to attain market leadership, long-term or sustainable growth, and peak business performance.
Keywords
Entrepreneurial Mindset
Entrepreneurial culture
Business performance
Sustainable
business growth
Business success
References
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Entrepreneurial strategies for development of family businesses and small and medium
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Medium Scale Businesses in Asaba. Nigerian Journal of Management Sciences 25(1) 134-
141
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Entrepreneurship perspective for Economic Development of Nigeria. World Journal of
Entrepreneurial
Development
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DOI:10.56201/wjeds.v9.no4.2024.pg77.89
(WJEDS) 9(5) 154-170.
Chukwuka E. J. (2024), the Nexus between Cultural Factors and Entrepreneurial Performance of
Small and Medium Scale Enterprises in Nigeria. International Journal of Entrepreneurship
10.52589/IJEBIIJ3SH8QZ
and
Business
Innovation
7(3),
43-
DOI:
10.52589/IJEBIIJ3SH8QZ
Chukwuka, E.J (2018) Effect of ecopreneurship on organizational performance of selected
manufacturing firms in Africa, Evidence from Nigeria. Singaporean Journal of Business
Economics and Management Review 6(2) 5-10
Chukwuka E.J (2016) Strategies of Starting and Sustaining a Business without incurring High
interest Loans. Alabaster Publishing Technologies Ltd.1 (1) 1-64
Chukwuka, E.J., Imide I.O. (2025) Impact of Artificial Intelligence on Employee’s Productivity
in Technological Organizations in Delta State, Nigeria. Jalingo Journal of Social and
Management Sciences 6(3) 239-251
Chukwuka, E. J., Bello, A. (2024) Entrepreneurial Traits and Competencies for Entrepreneurial
Success. DELSU Journal of Management Sciences. 1(1) 1-11
Chukwuka, E. J., Uche, M.A., Apaokueze, T. N (2025) Influence of Music on Entrepreneurial
Culture, Family Business and Society: An Entrepreneurial perspective. World Journal of
Entrepreneurial Development Studies 10(5) 11-21.
Chukwuka E.J., Imide I. (2022). Assessing the Strategic Effect of Small and Medium Scale
Enterprises on Economic Development: Evidence from Delta State. FUWJBAFS Journal
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Chukwuka, E.J., Imide, I., (2025). Monetization of Digital Content Strategies: A Digital
Entrepreneurship Perspective For Wealth Creation In Nigeria. NDA Journal of
Management Sciences Research. 5(1) 30-41
Chukwuka, E.J., Igweh, F.N. (2025). The Nexus between Globalization-Induced Migration and
Nigeria’s Economic Development: An Entrepreneurial Perspective. NDA Journal of
Management Sciences Research. 5(2) 208-215
Chukwuka, E.J., Imide, I., (2025). The Strategic Role of Job Satisfaction on Employee and
Organizational Performance In Nigeria. Nigerian Journal of Management Sciences.26 (1a)
177-185
Das, R.J (2004). Social capital and poverty of the wage-labour class: Problems with the social
capital theory. Trans. Inst. Br. Geogr. 2004, 29, 27–45. [CrossRef]
Eisenman, M. (2013). "The Entrepreneurial Mindset: The Key to Business Growth."
Entrepreneurship Theory and Practice, 37(3), 663-686.
Friedman, B.A.; Aziz, N.; Keles, I.; Sayfullin, S. (2012) Predictors of Students’ Desire to Be an
Entrepreneur: Kyrgyzstan, Georgian, and the United States; Social Science Research
Network: Rochester, NY, USA
Henry, C.; Hill, F.; Leitch, C (2005). Entrepreneurship education and training: Can
entrepreneurship be taught? Part II. Educ. Train. 2005, 47, 158–169. [CrossRef]
He, C.; Lu, J.; Qian, H. Entrepreneurship in China. Small Bus. Econ. 2019, 52, 563–572.
[CrossRef]
Harvie, C (2004). The contribution of SMEs in the economic transition of Vietnam. J. Int. Bus.
Entrep. Dev. 2, 1–16. [CrossRef]
Hu, M.-W (2010). SMEs and Economic Growth: Entrepreneurship or Employment. ICIC Express
Lett. 2010, 4, 2275–2280. 5. Naudé, W. Entrepreneurship, developing countries, and
development economics: New approaches and insights. Small Bus. Econ. 34, 1–12.
[CrossRef]
Igweh, F.N., Chukwuka, E.J, Okonta,E., (2025) Small Business Mortality and Survival Strategies
in Nigeria. DELSU Journal of Management Sciences 7(1) 1-16
Kenny, B (2018).; Rossiter, I. Transitioning from unemployment to self-employment for over 50s.
Int. J. Entrep. Behav. Res. 2018, 24, 234–255. [CrossRef]
Ndururi, J.; Mukulu, E(2015). Role of Entrepreneurial Mindset in Success of Enterprises Operated
by Entrepreneurship University Graduates in Kenya. Strat. J. Bus Chang. Manag. 2015, 2,
376–399
Méndez-Picazo, M.-T.; Galindo-MartÃn, M.-A.; Castaño-MartÃnez, M.-S (2021). Effects of
sociocultural and economic factors on social entrepreneurship and sustainable
development. J. Innov. Knowl. 6, 69–77. [CrossRef]
Metallo, C.; Agrifoglio, R.; Briganti, P.; Mercurio, L.; Ferrara, M (2021). Entrepreneurial
Behaviour and New Venture Creation: The Psychoanalytic Perspective. J. Innov. Knowl.
6, 35–42. [CrossRef]
Scarlat, C.; Ioanid, A.; ¸Si¸su, M (2021). Entrepreneurial Behaviour Identified among SME
Members of an International Group with Sustainability-Oriented Strategy. Sustainability
2021, 13, 12590. [CrossRef]
Schmid, A.A.; Robison, L.J (1995). Applications of Social Capital Theory. J. Agric. Appl. Econ.
, 27, 59–66. [CrossRef]
Sheshinski, E.; Strom, R.J.; Baumol, W.J (2007). Entrepreneurship, Innovation, and the Growth
Mechanism of the Free-Enterprise Economies; Princeton University Press: Princeton, NJ,
USA, ; ISBN 978-0-691-12945-7.
Ugbah, A. A., Eyide, M.U, Chukwuka, E.J., Onebi, P.O., Egbule, A. O.S (2025) Strategic role of
financial intelligence in sustainable business growth and profitability: An entrepreneurial
perspective. Edelweiss Applied Science and Technology 9(5) 2291-2302. DOI:
10.55214/25768484.v9i5.7463
Zheng, L.; He, X.; Cao, L.; Xu, H (2018). Making Modernity in China: Employment and
Entrepreneurship among the New Generation of Peasant Workers. Int. J. Jpn. Sociol. 27,
26–40. [CrossRef]
Zhou, B.; Marjerison, R.K.; Chang, F.H (2022). Chinese OEM Manufacturing Roadmap: SMEs–
To Brand or Not to Brand. In Handbook of Research on Emerging Bus
The case of Jordan. J. Int. Bus. Entrep. Dev. 7, 163. [CrossRef]
Ali, A.; Kelley, D.J.; Levie, J(2020). Market-driven entrepreneurship and institutions. J. Bus. Res.
113, 117–128. [CrossRef]
Apaokueze, T.N, Chukwuka, E.J (2025). Impact of Entrepreneurial Skills on Organizational
Performance of Small and Medium Scale Enterprises in Nigeria. International Academy
Journal of Management, Marketing & Entrepreneurial Studies. 9(2) 18-30
Apaokueze, T.N, Chukwuka, E.J, Abude, P., Egbule, S., Obieze, E., Uwujaha, V. (2025).
Entrepreneurial strategies for development of family businesses and small and medium
scale enterprises in Nigeria. Edelweiss Applied Science and Technology. 9 (7) 1559-1577.
DOI: 10.55214/2576-8484.v9i7.8967
Aris, N.M. (2007) SMEs: Building Blocks for Economic Growth; Department of National
Statistics: Kuala Lumpur, Malaysia
Baumol, W.J.; Strom, R.J. (2007) Entrepreneurship and Economic Growth. Strateg. Entrep. J. (,
1, 233–237. [CrossRef]
Barucic, A.; Umihanic, B (2016). Entrepreneurship Education as a Factor of Entrepreneurial
Opportunity Recognition for Starting a New Business. Management 21, 27–44.
Bitetti, R (2018). Unemployment and entrepreneurship: A bottom-up analysis. Unempl. Entrep. A
Bottom-Up Anal. 2018, 94–117. [CrossRef]
Cunningham, L.X (2011). SMEs as motor of growth: A review of China’s SMEs development in
thirty years (1978–2008). Hum. Syst. Manag. 30, 39–54. [CrossRef]
Chen, R.-L(2020). Trends in Economic Inequality and Its Impact on Chinese Nationalism. J.
Contemp. China 29, 75–91. [CrossRef] 13.
Chukwuka, E.J., Imide, I. (2023) Entrepreneurship Development as a strategy for curbing youth
Unemployment in Developing Economy. Ijagun Journal of Social and Management
Sciences 7 (1) 215-229
Chukwuka E.J., Igweh F. (2024) Feasibility Studies and Entrepreneurial Success of Small and
Medium Scale Businesses in Asaba. Nigerian Journal of Management Sciences 25(1) 134-
141
Chukwuka, E.J., Dibie, K. E. (2024) Contemporary Entrepreneurship: An International
Entrepreneurship perspective for Economic Development of Nigeria. World Journal of
Entrepreneurial
Development
Studies
DOI:10.56201/wjeds.v9.no4.2024.pg77.89
(WJEDS) 9(5) 154-170.
Chukwuka E. J. (2024), the Nexus between Cultural Factors and Entrepreneurial Performance of
Small and Medium Scale Enterprises in Nigeria. International Journal of Entrepreneurship
10.52589/IJEBIIJ3SH8QZ
and
Business
Innovation
7(3),
43-
DOI:
10.52589/IJEBIIJ3SH8QZ
Chukwuka, E.J (2018) Effect of ecopreneurship on organizational performance of selected
manufacturing firms in Africa, Evidence from Nigeria. Singaporean Journal of Business
Economics and Management Review 6(2) 5-10
Chukwuka E.J (2016) Strategies of Starting and Sustaining a Business without incurring High
interest Loans. Alabaster Publishing Technologies Ltd.1 (1) 1-64
Chukwuka, E.J., Imide I.O. (2025) Impact of Artificial Intelligence on Employee’s Productivity
in Technological Organizations in Delta State, Nigeria. Jalingo Journal of Social and
Management Sciences 6(3) 239-251
Chukwuka, E. J., Bello, A. (2024) Entrepreneurial Traits and Competencies for Entrepreneurial
Success. DELSU Journal of Management Sciences. 1(1) 1-11
Chukwuka, E. J., Uche, M.A., Apaokueze, T. N (2025) Influence of Music on Entrepreneurial
Culture, Family Business and Society: An Entrepreneurial perspective. World Journal of
Entrepreneurial Development Studies 10(5) 11-21.
Chukwuka E.J., Imide I. (2022). Assessing the Strategic Effect of Small and Medium Scale
Enterprises on Economic Development: Evidence from Delta State. FUWJBAFS Journal
of Banking and Financial Studies 2(2) 15
Chukwuka, E. J. (2025). "Entrepreneurial Wealth creation theory," World Journal of Finance
and Investment Research, vol. 9, no. 4, pp. 49–60,
Chukwuka, E.J., Imide, I., (2025). Monetization of Digital Content Strategies: A Digital
Entrepreneurship Perspective For Wealth Creation In Nigeria. NDA Journal of
Management Sciences Research. 5(1) 30-41
Chukwuka, E.J., Igweh, F.N. (2025). The Nexus between Globalization-Induced Migration and
Nigeria’s Economic Development: An Entrepreneurial Perspective. NDA Journal of
Management Sciences Research. 5(2) 208-215
Chukwuka, E.J., Imide, I., (2025). The Strategic Role of Job Satisfaction on Employee and
Organizational Performance In Nigeria. Nigerian Journal of Management Sciences.26 (1a)
177-185
Das, R.J (2004). Social capital and poverty of the wage-labour class: Problems with the social
capital theory. Trans. Inst. Br. Geogr. 2004, 29, 27–45. [CrossRef]
Eisenman, M. (2013). "The Entrepreneurial Mindset: The Key to Business Growth."
Entrepreneurship Theory and Practice, 37(3), 663-686.
Friedman, B.A.; Aziz, N.; Keles, I.; Sayfullin, S. (2012) Predictors of Students’ Desire to Be an
Entrepreneur: Kyrgyzstan, Georgian, and the United States; Social Science Research
Network: Rochester, NY, USA
Henry, C.; Hill, F.; Leitch, C (2005). Entrepreneurship education and training: Can
entrepreneurship be taught? Part II. Educ. Train. 2005, 47, 158–169. [CrossRef]
He, C.; Lu, J.; Qian, H. Entrepreneurship in China. Small Bus. Econ. 2019, 52, 563–572.
[CrossRef]
Harvie, C (2004). The contribution of SMEs in the economic transition of Vietnam. J. Int. Bus.
Entrep. Dev. 2, 1–16. [CrossRef]
Hu, M.-W (2010). SMEs and Economic Growth: Entrepreneurship or Employment. ICIC Express
Lett. 2010, 4, 2275–2280. 5. Naudé, W. Entrepreneurship, developing countries, and
development economics: New approaches and insights. Small Bus. Econ. 34, 1–12.
[CrossRef]
Igweh, F.N., Chukwuka, E.J, Okonta,E., (2025) Small Business Mortality and Survival Strategies
in Nigeria. DELSU Journal of Management Sciences 7(1) 1-16
Kenny, B (2018).; Rossiter, I. Transitioning from unemployment to self-employment for over 50s.
Int. J. Entrep. Behav. Res. 2018, 24, 234–255. [CrossRef]
Ndururi, J.; Mukulu, E(2015). Role of Entrepreneurial Mindset in Success of Enterprises Operated
by Entrepreneurship University Graduates in Kenya. Strat. J. Bus Chang. Manag. 2015, 2,
376–399
Méndez-Picazo, M.-T.; Galindo-MartÃn, M.-A.; Castaño-MartÃnez, M.-S (2021). Effects of
sociocultural and economic factors on social entrepreneurship and sustainable
development. J. Innov. Knowl. 6, 69–77. [CrossRef]
Metallo, C.; Agrifoglio, R.; Briganti, P.; Mercurio, L.; Ferrara, M (2021). Entrepreneurial
Behaviour and New Venture Creation: The Psychoanalytic Perspective. J. Innov. Knowl.
6, 35–42. [CrossRef]
Scarlat, C.; Ioanid, A.; ¸Si¸su, M (2021). Entrepreneurial Behaviour Identified among SME
Members of an International Group with Sustainability-Oriented Strategy. Sustainability
2021, 13, 12590. [CrossRef]
Schmid, A.A.; Robison, L.J (1995). Applications of Social Capital Theory. J. Agric. Appl. Econ.
, 27, 59–66. [CrossRef]
Sheshinski, E.; Strom, R.J.; Baumol, W.J (2007). Entrepreneurship, Innovation, and the Growth
Mechanism of the Free-Enterprise Economies; Princeton University Press: Princeton, NJ,
USA, ; ISBN 978-0-691-12945-7.
Ugbah, A. A., Eyide, M.U, Chukwuka, E.J., Onebi, P.O., Egbule, A. O.S (2025) Strategic role of
financial intelligence in sustainable business growth and profitability: An entrepreneurial
perspective. Edelweiss Applied Science and Technology 9(5) 2291-2302. DOI:
10.55214/25768484.v9i5.7463
Zheng, L.; He, X.; Cao, L.; Xu, H (2018). Making Modernity in China: Employment and
Entrepreneurship among the New Generation of Peasant Workers. Int. J. Jpn. Sociol. 27,
26–40. [CrossRef]
Zhou, B.; Marjerison, R.K.; Chang, F.H (2022). Chinese OEM Manufacturing Roadmap: SMEs–
To Brand or Not to Brand. In Handbook of Research on Emerging Bus
