Driving Competitive Advantage: The Role of Strategic Entrepreneurship in Textile Manufacturing Firms in Lagos State, Nigeria

Abstract

The paper argued that the challenges experienced in Nigerian textile manufacturing firms resulted from weak strategic entrepreneurship leading to alarming decline in the industry’s performance. Thus, investigated competitive advantage nexus with strategic entrepreneurship (strategic flexibility, adaptability, innovation, strategic leadership, risk taking and dynamic capabilities) as proxies in Lagos State, Nigeria. A cross-sectional survey research design was used and primary data collected. The adapted questionnaire validity was established through confirmatory factor analysis while the reliability was ascertained through internal consistency test. The population consists of 253 senior management staff and total enumeration was used. A total of 253 copies of the questionnaire were administered but 237 copies reverted. Descriptive statistics, exploratory analysis and structural equation model were utilized to analyse the data.

The moderating effect of marketing competence on the relationship between strategic flexibility organizational performances of quoted pharmaceutical companies in Nigeria

“…The result of hypothesis one (H1) differs from that of Chebo and Wubatie (2020) [17] , Egwakhe et al (2020) [18] and Sajjad et al (2020) [64] . For example, Chebo & Wubatie (2020) [17] found that strategic flexibility has negative significant effect on competitive advantage in Ethiopia.…”

“…For example, Chebo & Wubatie (2020) [17] found that strategic flexibility has negative significant effect on competitive advantage in Ethiopia. In addition, while Sajjad et al (2020) [64] established that strategic flexibility has no effect on performance of SMEs in sport goods manufacturing sector in Pakistan, Egwakhe et al (2020) [18] found that strategic flexibility has no significant relationship with competitive advantage of sampled textile manufacturing firms in Lagos State, Nigeria. It becomes imperative from the findings of the study that firms in dynamic business environment can improve and sustain performance by creating multiple strategic options their resources can be applied and coordinated to meet changing consumer needs, as well as proactively preparing and reacting effectively to environmental changes.…”

Corporate Entrepreneurship and Market Share of Selected Polyurethane Manufacturing Companies in Lagos State, Nigeria

“…As a result of the small population size, the need for sampling becomes unnecessary. Total enumeration was applied as evident in previous scholars works (Makinde and Agu 2018;Tijani and Akinlabi, 2020;Nwangwu, Ozigbo, Ngige, and Ugwu, 2020).…”

Financial Management Capabilities and Demographic Characteristics on Sustainable Sales Growth of Selected Small and Medium Enterprises (MSMEs) in Nigeria

“…The foundation of the survival strategy is that to survive, SME firms need to constantly adapt to their competitive financial climate. Brian (1996) cited in Egwakhe et al, (2020) opined that a new way of thinking about the business world (a paradigm) and new ways of behaving (corporate strategies) seem to be introduced every decade.…”

“…This theory, which was very popular during the late 19th and early 20th centuries, stressed the notion that only the best and fittest of MSME competitors would benefit by pursuing the concept of design, which eventually would lead to the development of a creative and innovative service or product. The survival-based view of the management emphasized the assumption that businesses that follow financial strategies that focus on running very productive activities would thrive in a competitive environment (Egwakhe, et al, 2020;Octasylva, et al, 2022). These scholars concluded that the most equipped and willing MSME owners and start-up entrepreneurs that adapt to the favourable financial and environmental business climate is the organisation that succeeds.…”