Journal Screenshot

International Journal of Academic Research in Economics and Management Sciences

Open Access Journal

ISSN: 2226-3624

Organisational Outcomes: Entrepreneurial Mindset and Entrepreneurial Competence Combined Effect

Egwakhe J. A, Omonijo O. S, Bamidele A. G, Umukoro J. E

http://dx.doi.org/10.6007/IJAREMS/v13-i2/21278

Open access

The paper argued that while organisational outcomes reflect the overall performance of an organization, the role of entrepreneurial mindset and entrepreneurial competence as a combined panacea to improve outcomes has not received considerable attention, especially in developing countries like Nigeria, where the Fast Moving Consumer Goods (FMCG) firms have maintained sharp decline in their general performance. Therefore, the need to investigate if the entrepreneurial mindset and entrepreneurial competence combined could affect organisational outcomes is appropriate. The study applied the cross-sectional survey research design in obtaining primary data from 383 top, middle, and low-level management staff of selected FMCG in Lagos State, Nigeria. The stratified random sampling technique was utilized. Also, the reliability and validity tests on the adapted questionnaire were considered credible before applying it to this study. Results from the multiple regression analysis revealed that entrepreneurial mindset and entrepreneurial competence significantly have a combined effect on organisational outcome [Adj.R2= 0.186, F(2, 381) = 44.640, p<0.05]. Management should establish a clear vision and mission that aligns with the entrepreneurial spirit and foster continuous learning culture and improvement to enhance overall organizational outcomes.

Abun, D., Basilio, G. J. Q., Fredolin, J. P., & Magallanes, T. (2022). The effect of entrepreneurial mindset, work environment on employees' work performance. International Journal o0f Research in Business and Social Science, 11(4), 77-94.
https://doi.org/10.20525/ijrbs.v11i4.1839
Adama, O. (2018). Urban imaginaries: Funding mega infrastructure projects in Lagos, Nigeria. GeoJournal, 83(2), 257-274. https://link.springer.com/article/10.1007/s10708-016-9761-8
Adynski, G. I., Sherwood, G., Ikharo, E., Tran, A., & Jones, C. B. (2022). Outpatient nurse staffing relationship with organizational, nurse and patient outcomes: A scoping review. International Journal of Nursing Studies Advances, 4, 1-14.
https://doi.org/10.1016/j.ijnsa.2022.100064
Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211. http://dx.doi.org/10.1016/0749-5978(91)90020-T
Al-Awlaqi, M. A., Aamer, A. M., & Habtoor, N. (2021a). The effect of entrepreneurship training on entrepreneurial orientation: Evidence from a regression discontinuity design on micro-sized businesses. International Journal of Management Education, 19(1), 1-15. https://doi.org/10.1016/j.ijme.2018.11.003
Alvarez-Torres, F. J., Lopez-Torres, G. C., & Schiuma, G. (2019). Linking entrepreneurial orientation to SMEs’ performance: Implications for entrepreneurship universities. Management Decision, 57(12), 3364-3386. https://doi.org/10.1108/MD-11-2018-1234
Anaja, E. O., & Bagobiri, E. Y. (2022). Effect of supply chain management on organizational Performance of selected Fast Moving Consumer Goods in Karu, Nigeria. International Journal of Research Publication, 108(1), 145-168.
http://dx.doi.org/10.47535/1991ojbe129
Aries, Vional, Saraswati, L. A., Wijaya, L., & Ikhsan, R. B. (2020). Gamification in learning process and its impact on entrepreneurial intention. Management Science Letters, 10(4), 765–768. https://doi.org/10.5267/j.msl.2019.10.021
Asamoah, G. K., Afum, E., Kusi, L. Y., Agyabeng-Mensah, Y., & Baah, C. (2022). Exploring the indirect role of green business practices in transmitting eco-market orientation into positive organizational outcomes: an empirical study. Management of Environmental Quality: An International Journal, 33(2), 1-21. https://doi.org/10.1108/MEQ-06-2021-0142
Babatunde, A. I. (2020). An assessment of the triple bottom line concept on CSR effort in FMCG in Nigeria. Electronic Research Journal of Social Sciences and Humanities, 1, 123-147.
Babatunde, S. A. (2018). Government spending on infrastructure and economic growth in Nigeria. Economic research-Ekonomska istraživanja, 31(1), 997-1014.
https://doi.org/10.1080/1331677X.2018.1436453
Bhattacharya, A., Morgan, N. A., & Rego, L. L. (2022). Examining why and when market share drives firm profit. Journal of Marketing, 86(4), 73-94.
http://dx.doi.org/10.1177/00222429211031922
BusinessDay (2023). https://businessday.ng/uncategorized/article/nbcc-uac-seek-increased-performance-of-consumer-goods-sector/
Cui, J., & Bell, R. (2022). Behavioural entrepreneurial mindset: How entrepreneurial education activity impacts entrepreneurial intention and behaviour. The International Journal of Management Education, 20(2), 106-119. https://doi.org/10.1016/j.ijme.2022.100639
Cui, J., Sun, J., & Bell, R. (2021). The impact of entrepreneurship education on the entrepreneurial mindset of college students in China: The mediating role of inspiration and the role of educational attributes. International Journal of Management Education, 19(1), 1-23. https://doi.org/10.1016/j.ijme.2019.04.001
Daspit, J. J., Fox, C. J., & Findley, S. K. (2023). Entrepreneurial mindset: An integrated definition, a review of current insights, and directions for future research. Journal of Small Business Management, 61(1), 12–44. https://doi.org/10.1080/00472778.2021.1907583
Diaka, H. S., Soom, A. T., & Asenge, E. L. (2018). Entrepreneurial mindset and performance of small and medium scale enterprises in Makurdi Metropolis, Benue State-Nigeria. International Journal of Innovation, 6(2), 124-146.
Distanont, A., & Khongmalai, O. (2020). The role of innovation in creating a competitive advantage. Kasetsart Journal of Social Sciences, 41(1), 15–21.
https://doi.org/10.1016/J.KJSS.2018.07.009
Do?ru, C. (2022). A meta-analysis of the relationships between emotional intelligence and employee outcomes. In Frontiers in Psychology, 13, 1-12.
https://doi.org/10.3389/fpsyg.2022.611348
Dung, L. T. (2021). The mediating role of employee intrapreneurial behavior in nexus between constructs of internal corporate social responsibility practices and organizational outcomes. Journal of Asia-Pacific Business, 22(2), 1-21.
https://doi.org/10.1080/10599231.2021.1905494
Egbunike, C. F., & Okerekeoti, C. U. (2018). Macroeconomic factors, firm characteristics and financial performance: A study of selected quoted manufacturing firms in Nigeria. Asian Journal of Accounting Research, 4(16), 55-62.
Egwakhe, A. J., Omonijo O. S., Akande, F. I., & Umukoro, E. J. (2022). Corporate entrepreneurship and organizational performance: Is organizational culture a growth accelerator? International Journal of Management and Commerce Innovations (IJMCI), 10(1), 206-216. https://doi.org/10.5281/zenodo.6606170
Ersari, G., & Naktiyok, A. (2022). The role of competitive strategies in the effect of entrepreneurial mindset and the entrepreneurial leadership on business performance. Istanbul Business Research, 51(1), 47–68.
https://doi.org/10.26650/ibr.2022.51.834294
Fabian, A. A., & Uzoamaka, N.-O. P. (2022). Entrepreneurial Mindset among Nigerian University Students: A Study of Ebonyi State University’s Entrepreneurship Centre, Abakaliki. Asian Journal of Economics, Business and Accounting, 22(5), 24–33. https://doi.org/10.9734/ajeba/2022/v22i530560
Haynes, N. J., Vandenberg, R. J., Wilson, M. G., DeJoy, D. M., Padilla, H. M., & Smith, M. L. (2021). Evaluating the impact of the live healthy, work healthy program on organizational outcomes: A randomized field experiment. Journal of Applied Psychology, 107(10). https://doi.org/10.1037/apl0000977
Hwang, W. S., Choi, H., & Shin, J. (2020). A mediating role of innovation capability between entrepreneurial competencies and competitive advantage. Technology Analysis and Strategic Management, 32(1), 1–14. https://doi.org/10.1080/09537325.2019.1632430
Idrees, H., Xu, J., Haider, S. A., & Tehseen, S. (2023). A systematic review of knowledge management and new product development projects: Trends, issues, and challenges. Journal of Innovation and Knowledge, 8(2). https://doi.org/10.1016/j.jik.2023.100350
Ivanov, D., & Rozhkov, M. (2020). Coordination of production and ordering policies under capacity disruption and product write-off risk: An analytical study with real-data based simulations of a fast moving consumer goods company. Annals of Operations Research, 291(1-2), 387-407.
Klynveld Peat Marwick Goerdeler (KPMG) (2023). Thriving amidst turbulence - Navigating the dynamic consumer markets in Nigeria. Retrieved from: https://kpmg.com/ng/en/home/insights/2023/08/thriving-amidst-turbulence---navigating-the-dynamic-consumer-m
Krejcie, R. V., & Morgan, D. W. (1970). Determining sample size for research activities. Educational and Psychological Measurement, 30(1), 607-610.
Larsen, I. B. (2022). Fostering an entrepreneurial mindset: A typology for aligning instructional strategies with three dominant entrepreneurial mindset conceptualizations. Industry and Higher Education, 36(3), 236-251.
Liao, Y. K., Nguyen, V. H. A., Chi, H. K., & Nguyen, H. H. (2022). Unraveling the direct and indirect effects of entrepreneurial education and mindset on entrepreneurial intention: The moderating role of entrepreneurial passion. Global Business and Organizational Excellence, 41(3). https://doi.org/10.1002/joe.22151
Liñán, F., & Chen, Y.W. (2009). Development and cross-cultural application of a specific instrument to measure entrepreneurial intentions. Entrepreneurship Theory and Practice, 33(3), 593-617.
Martin-Rojas, R., Garcia-Morales, V. J., & Gonzalez-Alvarez, N. (2019). Technological antecedents of entrepreneurship and its consequences for organizational performance. Technological Forecasting and Social Change, 1(4), 22-35.
Maziriri, E. T., Nyagadza, B., Maramura, T. C., & Mapuranga, M. (2022). Like mom and dad: Using narrative analysis to understand how couplepreneurs stimulate their kids’ entrepreneurial mindset. Journal of Entrepreneurship in Emerging Economies. https://doi.org/10.1108/JEEE-05-2022-0153
McLarty, B. D., Hornsby, J. S., & Liguori, E. W. (2023). Advancing entrepreneurial mindset: What do we know and where do we go? In Journal of Small Business Management (Vol. 61, Issue 1). https://doi.org/10.1080/00472778.2022.2140809
Messikh, A. (2022). Does Entrepreneurial Risk-Taking Affect the Business Performance of Micro-Enterprises? Evidence from Skikda in Algeria. Naše gospodarstvo/Our economy, 68(2), 65-77.
Middleton, M. K., Padilla-Melendez, A., Lockett, N., Quesada-Pallarès, C., & Jack, S. (2020). The university as an entrepreneurial learning space: The role of socialized learning in developing entrepreneurial competence. International Journal of Entrepreneurial Behavior & Research, 26(5), 887-909.
Momodu, A. S., Aransiola, E. F., Okunade, I. D., Ogunlusi, G. O., Awokoya, K. N., Ogundari, I. O., & Akinbam, J. F. K. (2019). Greening Nigeria's economy for industrial and environmental sustainability: Polyurethane production as a test case. Natural Resources Forum, 43(2), 73-81.
Ogugua Chinyere, A., Amechi Fabian, A., Ngozi, H., & Anthonia Nkechi, O. (2021). Self-improvement and entrepreneurship mindset among students’ of Ebonyi state university, Abakaliki, Nigeria. In www.gjmss.org global journal of management & social sciences (Vol. 4, Issue 1). www.gjmss.org
Ogunlela, G. O. (2018). Integrated Supply Chain Management in the Fast-Moving Consumer Goods Manufacturing Industry: A Review. Journal of Economics and Behavioral Studies, 10(4 (1), 213-220.
Owie, E. T. (2019). Sustainable Supply Chain Management in the Nigerian Consumer Goods Manufacturing Sector (Doctoral dissertation, Walden University).
Ozkan, K. S., Khan, H., Deligonul, S., Yeniyurt, S., Gu, Q. C., Cavusgil, E., & Xu, S. (2022). Race for market share gains: How emerging market and advanced economy MNEs perform in each other’s turf. Journal of Business Research, 1(5), 208-222.
Pinnamaneni, L., Verma, A., & Shrivastava, P. (2023). The Market Share Growth of the Paddy Seed in Bhoodan Pochampally Market of Yadadri Bhuvangiri District in Telangana. Asian Journal of Agricultural Extension, Economics & Sociology, 41(5), 121-126.
Rabenu, E., & Shkoler, O. (2022). Heavy-Work Investment, Its Organizational Outcomes and Conditional Factors: A Contemporary Perspective over a Decade of Literature. Sustainability (Switzerland), 14(24). https://doi.org/10.3390/su142416362
Roeslie, S. H., & Arianto, R. F. (2022). Impact of Entrepreneurial Culture, Entrepreneurial Education and Entrepreneurial Mindset, on Entrepreneurial Intention. Budapest International Research and …, 2015.
Salami, S. O. (2019). Examining the emerging entrepreneurial mindset in adolescence: A study in Nigeria. International journal of psychology, 54(1), 70-79.
Santos, S. C., Morris, M. H., Caetano, A., Costa, S. F., & Neumeyer, X. (2019). Team entrepreneurial competence: multilevel effects on individual cognitive strategies. International Journal of Entrepreneurial Behaviour and Research, 25(6), 1259–1282. https://doi.org/10.1108/IJEBR-03-2018-0126
Tunçalp, D., & Y?ld?r?m, N. (2022). Sustainable entrepreneurship: Mapping the business landscape for the last 20 years. Sustainability, 14(7), 38-64.
Udokporo, C. K., Anosike, A., Lim, M., Nadeem, S. P., Garza-Reyes, J. A., & Ogbuka, C. P. (2020). Impact of Lean, Agile and Green (LAG) on business competitiveness: An empirical study of fast moving consumer goods businesses. Resources, Conservation and Recycling, 15(6), 104714.
Umar, A., Che Cob, C. M. S., Che Omar, C. M. Z., & Gani Hamzah, M. S. (2018). Determinants of Entrepreneurial Competencies Development in Small and Medium Enterprises. International Journal of Business and Management, 14(1), 147.
https://doi.org/10.5539/ijbm.v14n1p147
Valaei, N., Rezaei, S., Bressolles, G., & Dent, M. M. (2022). Indispensable components of creativity, innovation, and FMCG companies’ competitive performance: a resource-based view (RBV) of the firm. Asia-Pacific Journal of Business Administration, 14(1), 1-23. https://doi.org/10.1108/APJBA-11-2020-0420
Zemlyak, S., Naumenkov, A., & Khromenkova, G. (2022). Measuring the Entrepreneurial Mindset: The Motivations behind the Behavioral Intentions of Starting a Sustainable Business. Sustainability (Switzerland), 14(23). https://doi.org/10.3390/su142315997
Zikmund, W. G., Quinlan, C., Babbin, B., Carr, J. C., & Griffin, M. (2015). Business research methods. United States: South-Western College, California Publisher.

(Egwakhe et al., 2024)
Egwakhe, J. A., Omonijo, O. S., Bamidele, A. G., & Umukoro, E. J. (2024). Organisational Outcomes: Entrepreneurial Mindset and Entrepreneurial Competence Combined Effect. International Journal of Academic Research in Economics and Management and Sciences, 13(2), 75–88.