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Relevance of Entrepreneurial Orientation Strategy to Cooperative Business Organizations in Nigeria

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  • Nurudeen Afolabi Sofoluwe

    () (Department of Cooperative and Rural Development, Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Nigeria)

Abstract

This study examines the relevance of entrepreneurial orientation (EO) strategies to the success of cooperative business organizations. Primary data were collected through structured questionnaire from randomly sampled cooperative organizations. The data covered organizational characteristics, entrepreneurial orientation and performance of the cooperative firms. Descriptive analysis and structural equation model (SEM) were used to analyze the data. The findings show that entrepreneurial capacity of cooperative organizations to unlock prevailing market strategies is high. However, their level of aggressiveness for enhanced market competitiveness is low. Strong proclivity for high risk business is also low. The competitive aggressiveness of cooperative organization is found to be non-existent in the entrepreneurial framework. The findings suggest the need for review of business strategies of most cooperative entities.

Suggested Citation

  • Nurudeen Afolabi Sofoluwe, 2020. "Relevance of Entrepreneurial Orientation Strategy to Cooperative Business Organizations in Nigeria," Izvestiya, Varna University of Economics, issue 4, pages 415-429.
  • Handle: RePEc:vrn:journl:y:2020:i:4:p:415-429
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Cooperatives; entrepreneurial orientation; market competition; SEM;
    All these keywords.

    JEL classification:

    • J54 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Producer Cooperatives; Labor Managed Firms
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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