Women Entrepreneurship and Sustainable Economic Development: Evidence from Nigeria

The emerging field of entrepreneurship in 20th century has made women entrepreneurs to be creative and innovative. However, in Africa especially Nigeria, women have historically been disadvantaged in accessing not only material resources, but also have been deprived of resources like finance, market information and modern technology. This study examined the influence of women entrepreneurs on sustainable economic development in Nigeria. Other specific objectives were to  assess the perceived contributions of women entrepreneurs to economic sustainability in Nigeria; ascertain the ways in which women entrepreneurs have been empowered; determine the factors motivating women into entrepreneurship  and to identify the major challenges facing women towards entrepreneurship development in Nigeria. This research work was carried out among the three thousand one hundred and fifty (3,150) women entrepreneurs registered with ministry of commerce and industry in the South-Western geo-political zones of Nigeria. A total of six hundred and eighty (680) participants were selected as sample size for the study. The data collection instruments for the study were structured questionnaire and personal interview. Data analysis was performed with the aid of simple percentage, mean, chi-square and linear Regression. Results revealed that involvement of women in entrepreneurship (β = 0.310, t = 17.175, P<.001) have positive and significant influence on sustainable economic development. Results also indicated that majority of women have been empowered by voting in elections, have access to education, and they have benefited from empowerment training. Furthermore, result indicated that involvement of women in entrepreneurial activities accounted for 30.3% of the variation which was explained by the model while extraneous variables accounted for about 69.7%.  Results so revealed that lack of access to finance, work/home conflict and lack of moral support from family members are major challenges facing women entrepreneurs in Nigeria. Study concluded that involvement of women in entrepreneurship is a catalyst to the sustainable economic development. The study recommended the establishment of Women Entrepreneurship Development Centre (WEDC) by the federal/state government in collaboration with private sector to provide financial assistance, business advice, mentorship and other practicable support in order to empower the Nigerian women towards realization of the self-employment aspirations. Research paper Keywords: Women Entrepreneurs, Entrepreneurship, Sustainable Economic Development, Challenges Reference to this paper should be made as follows: Sajuyigbe, A. S., & Fadeyibi, I. O. (2017). Women Entrepreneurship and Sustainable Economic Development: Evidence from South Western Nigeria, Journal of Entrepreneurship, Business and Economics, 5(2), 19–46

Financial Empowerment and Entrepreneurial Venture Creation among NGOs’ Beneficiaries in Kwara State, Nigeria: An Empirical Investigation

The NGOs place much emphasis on the provision of diverse relevant training, counseling, mentoring, and financial empowerment in cash and equipment grants, loans, and subsidies that made little or no impact on the lives of beneficiaries and the economy. Hence, this study examined the impact of financial empowerment and entrepreneurial venture creation among NGO beneficiaries in Kwara State, Nigeria. A survey was carried out employing the simple random sampling technique to select 358 respondents from a total of 5,354 sampling frames of NGOs’ beneficiaries in Kwara State. Data analysis was performed using descriptive and inferential statistics. The results indicated that financial empowerment contributes significantly to entrepreneurial venture creation among the NGOs’ beneficiaries. It was further revealed that cash loans and subsidies offered by NGOs have a positive impact on entrepreneurial venture creation, while grants have an inverse impact on entrepreneurial venture creation. The study, therefore, suggests among other things that the management of NGOs should scrutinize business plans properly before giving loans, grants, and subsidies to the beneficiaries so that only viable and innovative ideas will be funded

Strategic entrepreneurship and performance of Nigerian banks: A quantitative approach

Objective: Strategic entrepreneurship provides value that allows companies to compete favourably in the market compared to their competitors, especially in the banking sector, and thus influence their performance. Therefore, this study examined the impact of strategic entrepreneurship on the performance of Nigerian banks. Research Design & Methods: A quantitative approach was adopted for the study, which used a post facto study design. The sample size consists of 10 banks listed before 2009 that were only excluded in 2018 with related data. Secondary data collected from annual reports and financial statements of all sample banks over ten years (2010-2019) were analysed. Panel data analysis was used to measure the relationship between independent and dependent variables at p< 0.05. Findings: The study demonstrates that strategic dimensions of entrepreneurship (strategic renewal, sustainable innovation, and domain renewal) play a key role in joint and significant organizational performance. It has also been confirmed that strategic renewal independently affects business organizational performance, while domain definition has a positive but minor relevance. However, permanent regeneration has the opposite effect on organizational performance. Implications & Recommendations: This finding means that many Nigerian banks have failed to put into practice the knowledge and financial commitment to take advantage of opportunities, which is an important means of strengthening the sector amid the pandemic syndrome and highly turbulent environment. It is therefore imperative that the management of Nigerian banks be financially engaged in formulating innovative strategies and activities. Contribution & Value Added: The study has established that strategic entrepreneurship components jointly and independently influence the performance of Nigerian banks. It was also discovered that strategic renewal, sustainable innovation, and domain renewal are strong predictors of banks’ performance

Unveiling the Impact of Strategic Sensitivity and Strategic Response on SME Performance Amidst COVID-19: Examining the Mediating Role of Innovation Capacity

Scholars recognize that Small and Medium Enterprises (SMEs) play a crucial role in promoting economic sustainable development for nations. Nevertheless, the SME sector has faced significant challenges due to the impact of the COVID-19 pandemic and the changes in the global competitive environment, leading to a decline in their profits. Top of Form Bottom of Form This study, therefore, investigates the mediating influence of innovation capacity on strategic sensitivity, strategic response, and the performance of SMEs. A structured questionnaire was used to collect data from 405 participants. Data analysis was performed with the aid of Path Analysis- Structured Equation Modelling (PA-SEM). The study establishes that strategic sensitivity has a significant and positive impact on SME performance, as well as on innovation capacity. Strategic response also demonstrates a positive and significant relationship with SME performance. Innovation capacity emerges as the variable with the strongest positive relationship with SMEs performance. The study further reveals that innovation capacity partially mediates the relationships between strategic sensitivity and SME performance, as well as between strategic response and SME performance. This suggests that the positive impact of strategic sensitivity and strategic response on SME performance is partly driven by their influence on innovation capacity. The study advocates for investments in research and development, the cultivation of creativity, and the embrace of new technologies as key strategies for SMEs to achieve sustainable success

Mediating effect of Financial Self-Control in the relationship between Financial Behavior and Financial Wellbeing: Evidence from Osun State, Nigeria

This study examines the mediating effect of financial self-control in the relationship between financial behavior and financial well-being. Current research conceptualizes financial behavior in terms of credit discipline, savings and investment, and financial awareness. The data from this study came from a survey of 550 employees who have worked with the Osun government for at least 10 years. The structural equation model (SEM) using STATA version 15 was used to analyze the data. This study establishes a positive and significant relationship between financial behavioral parameters and financial self-control and financial wellbeing.  It also showed that financial self-control is a powerful predictor of financial well-being.  Given this, civil servants must be rational in their financial behavior in order to provide post-retirement financial stability and long-term financial well-being.  In addition, the results of the survey provide relevant data for governments and educators to hold seminars and workshops on the importance of financial behavior and self-regulation. This greatly contributes to ensuring that civil servants are financially safe after retirement and well cared for in the long run

Adoption of the National Health Insurance Scheme and Its Influence on Organizational Commitment: An Empirical Investigation

Purpose: The study examines the influence of the adoption of the National Health Insurance Scheme on organizational commitment with particular reference to Kwara State, Nigeria. Method: A cross-sectional descriptive study was adopted for the study. A purposive sampling technique was employed to select 350 civil servants from the Ministry of Health in Ilorin. Data were analyzed with the assistance of mean and ordinary least square method of estimation.&nbsp; Result: The results reveal that the adoption of the National Health Insurance Scheme (NHIS) has a significant influence on organizational commitment. This indicates that the “modus operandi” of the scheme is a strong predictor of organizational commitment in Nigeria. Implication: Deduction to be made from this result is that the “modus operandi” of the scheme is a strong predictor of organizational commitment. This indicates that the sustainability of the NHIS is a guarantee in the country. This will pave the way to achieve Sustainable Development Goals (SDGs) of ‘universal health coverage, such as financial risk protection, access to quality essential health care services, and access to safe, effective, quality, and affordable essential medicines and vaccines for all by 2030

Financial Literacy and Financial Inclusion as Tools to Enhance Small Scale Businesses’ Performance in Southwest, Nigeria

Purpose: The study sought to examine the impact of financial literacy and financial inclusion on small businesses’ overall performance with special reference to Southwest Nigeria. Methods: Descriptive survey research sketch was adopted for this study, while the purposive sampling method was employed to choose forty small scale businesses registered with SMEDAN from each state capital of South Western of Nigeria that engaged in petty trading, bakeries, block-making, soup-making, tailoring, and agro-allied, totaling 240 participants as a sample size for the study. Data were collected by using a closed-ended questionnaire designed for the study, while simple percentage, mean, standard deviation, Pearson Product Moment Correlation (PPMC), and Ordinary Least Square (OLS) was used to analyze the data. Results: The findings disclose that financial literacy and financial inclusion jointly and independently affect small businesses’ performance. It revealed a positive and significant relationship between financial literacy and financial inclusion. However, the study depicts that majority of business operators did not have financial knowledge such as working capital management, accounting records system, financial reporting, cashbook maintenance, income statement, daily cash reconciliation, internal control on cash, and cash budget. Also, the study confirmed that the majority of small business entrepreneurs are financially excluded from micro-financing, emergency loans, employ purchase financing, business bank loans, and micro-insurance plan Services. Implications: The implication of this study is that if the Central Bank of Nigeria partnership with other professional organizations to promote financial literacy and inclusion programs to all business entrepreneurs across the nation, it will motivate more business entrepreneurs in Nigeria to have access to finance. &nbsp

The Employee Relationship Management and Organizational Agility: Mediating Role of Employee Empowerment in Consumer Goods Sector

The study examines the mediating role of employee empowerment in the relationship between employee relationship management and organizational agility. The survey method was used in the study using a closed-end copy of the questionnaire to collect data from three hundred and fifty-eight (358) respondents via the Google Document platform. Structural equation modeling was used to analyze the data using the PROCESS macro program as a regression-based software package. The results show that employee relationships have a significant impact on organizational agility. It was also found that managing relationships with employees improves employee empowerment because it helps them achieve their organizational goals directly by allowing them to make decisions. Finally, there is a good link between employee empowerment and organizational agility. The results also indicate that employee empowerment has a positive and important relationship with employee relationships and organizational agility. This study establishes a strong role for employee empowerment as an intermediary between employee relationship management and organizational management. This means that all employers have the greatest competitive advantage of always empowering their staff with recognized world-class talent. The study has contributed to the body of knowledge by demonstrating the RBT's adaptability in a pandemic period to optimize employee motivation at the expense of acknowledging the instinct of organizational agility in a challenging era where change occurs without warning

Gestión de las relaciones con los empleados y agilidad organizativa: papel mediador del empoderamiento de los empleados en el sector de bienes de consumo

L'estudi examina el paper mediador de l'apoderament dels empleats en la relació entre la gestió de les relacions amb els empleats i l'agilitat organitzacional. En aquest treball s'ha fet servir el mètode d'enquesta mitjançant una còpia tancada del qüestionari per recopilar dades de tres-cents cinquanta-vuit (358) enquestats a través de la plataforma de documents de Google. S’ha usat el model d'equacions estructurals per analitzar les dades utilitzant el programa macro PROCESS com a paquet de programari basat en regressió. Els resultats mostren que les relacions amb els empleats tenen un impacte significatiu a l'agilitat organitzacional. També es detecta que la gestió de les relacions amb els empleats millora l'apoderament dels empleats perquè els ajuda a assolir els seus objectius organitzacionals directament en permetre'ls prendre decisions. Finalment, hi ha un estret lligam entre l'apoderament dels empleats i l'agilitat organitzacional. Els resultats també indiquen que l'apoderament dels empleats té una relació positiva i important amb les relacions amb els empleats i l'agilitat organitzacional. Aquest estudi estableix un paper important per a l'apoderament dels empleats com a intermediari entre la gestió de les relacions amb els empleats i la gestió de l'organització. Això significa que tots els ocupadors tenen l'avantatge competitiu més gran d'apoderar sempre el seu personal amb talent reconegut de classe mundial. L'estudi ha contribuït a l'acumulació de coneixement en demostrar l'adaptabilitat de l'RBT en un període de pandèmia per optimitzar la motivació dels empleats a costa de reconèixer l'instint d'agilitat organitzacional en una era desafiant on el canvi passa sense avís previ.The study examines the mediating role of employee empowerment in the relationship between employee relationship management and organizational agility. The survey method was used in the study using a closed-end copy of the questionnaire to collect data from three hundred and fifty-eight (358) respondents via the Google Document platform. Structural equation modeling was used to analyze the data using the PROCESS macro program as a regression-based software package. The results show that employee relationships have a significant impact on organizational agility. It was also found that managing relationships with employees improves employee empowerment because it helps them achieve their organizational goals directly by allowing them to make decisions. Finally, there is a good link between employee empowerment and organizational agility. The results also indicate that employee empowerment has a positive and important relationship with employee relationships and organizational agility. This study establishes a strong role for employee empowerment as an intermediary between employee relationship management and organizational management. This means that all employers have the greatest competitive advantage of always empowering their staff with recognized world-class talent. The study has contributed to the body of knowledge by demonstrating the RBT's adaptability in a pandemic period to optimize employee motivation at the expense of acknowledging the instinct of organizational agility in a challenging era where change occurs without warning.El estudio examina el papel mediador del empoderamiento de los empleados en la relación entre la gestión de las relaciones con los empleados y la agilidad organizacional. En este trabajo se ha utilizado el método de encuesta mediante una copia cerrada del cuestionario para recopilar datos de trescientos cincuenta y ocho (358) encuestados a través de la plataforma de documentos de Google. Se utilizó el modelo de ecuaciones estructurales para analizar los datos utilizando el programa macro PROCESS como un paquete de software basado en regresión. Los resultados muestran que las relaciones con los empleados tienen un impacto significativo en la agilidad organizacional. También se detecta que la gestión de las relaciones con los empleados mejora el empoderamiento de los empleados porque les ayuda a alcanzar sus objetivos organizacionales directamente al permitirles tomar decisiones. Finalmente, existe un estrecho vínculo entre el empoderamiento de los empleados y la agilidad organizacional. Los resultados también indican que el empoderamiento de los empleados tiene una relación positiva e importante con las relaciones con los empleados y la agilidad organizacional. Este estudio establece un papel importante para el empoderamiento de los empleados como intermediario entre la gestión de las relaciones con los empleados y la gestión de la organización. Esto significa que todos los empleadores tienen la mayor ventaja competitiva de empoderar siempre a su personal con talento reconocido de clase mundial. El estudio ha contribuido a la acumulación de conocimiento al demostrar la adaptabilidad del RBT en un período de pandemia para optimizar la motivación de los empleados a expensas de reconocer el instinto de agilidad organizacional en una era desafiante donde el cambio ocurre sin previo aviso