The Effect Of Entrepreneurial Strategy And Action Amongst Firms In Nigeria

Abstract

The need for a managerial team or group, with the skills required to develop, and market a new or old product and resuscitate company or firm\'s image ginger this study. Ironically most firms/ companies in Nigeria seldom make use of these experts (new venture team) to exploit opportunities others are yet to know. The study population was 1210 respondents from 10 different companies/ corporate organizations in Nigeria that answered the questions that were formulated in the questionnaire. The model specification for the test of hypothesis was the Product Moment Correlation Coefficient. It was discovered that the benefit of using entrepreneurial or new venture team to improve the fortune of firms/ companies or their product is immeasurable and gives them competitive advantage. Though top management sometimes do not support this view, hence incentives and compensation has not been encouraging. Thus top management should encourage and support these teams, while creating a fair compensation and incentive atmosphere that will spur entrepreneurial action/ strategy. For the only way to remain competitive is innovative principles in the global economy.

Keywords: Entrepreneurial, Innovation, Strategy, Competitive advantage, “NVT”

Global Journal of Social Sciences Vol. 7 (1) 2008: pp. 21-26