PERSONALITY TRAITS AND ENTREPRENEURIAL PERFORMANCE OF SMALL BUSINESSES

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DOI:

https://doi.org/10.37335/ijek.v12i2.246

Abstract

The need for entrepreneurs to achieve desirable results in their entrepreneurial acts cannot be over-emphasized. In achieving this, the personality factors of the entrepreneurs in planning and organising their business processes and activities play a crucial role. To this end, the study examined the role of personality traits in determining the entrepreneurial performance of small businesses in Lagos State. The study used a descriptive research design and a simple random sampling method. The primary source of data collection was through the use of a questionnaire, which was administered to 379 small business owners in Lagos State. The findings from the multiple regression analysis indicated that extraversion, conscientiousness, and openness to experience are personality traits that have a significant effect on business model innovation as well as the value creation of small businesses in Lagos State. It was concluded that personality traits determine small business performance in Lagos State. Based on this, the study recommended that small business owners in Lagos State should continue to exhibit more of their personality traits, especially extraversion and openness to experience the act of developing innovative models for business processes or activities. The study also recommended that small business owners focus on value creation by showing more personality traits, especially conscientiousness and openness to experience, than extraversion.

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Author Biographies

Ayobami Folarin Elegunde, Lagos State University, Ojo, Nigeria

Affiliation: Lagos State University, Ojo, Nigeria

Email: ayobami.elegunde@lasu.edu.ng

He is one of the senior academic resource persons in the Department of Business Administration, Faculty of Management Sciences, Lagos State University. His research interests are corporate integrity, organisation behaviour, and general management. He has published quite a number of articles in reputable international and domestic journal publication outlets.

Olajide Idowu Okunbanjo, Lagos State University, Ojo, Nigeria

Affiliation: Lagos State University, Ojo, Nigeria

Email: olajide.okunbanjo@lasu.edu.ng

He is the corresponding author of the paper. Dr Okunbanjo is also a junior academic resource person in the Department of Business Administration, Faculty of Management Sciences, Lagos State University. His areas of interest are entrepreneurship, general management, and business finance. He has authored and co-authored several articles published in local and foreign academic journal outlets.

Babatunde Kayode Afolabi, Lagos State University, Ojo, Nigeria

Affiliation: Lagos State University, Ojo, Nigeria

Email: babsafo@gmail.com

Mr Afolabi Babatunde Kayode is an entrepreneur and a PhD candidate in the Department of Business Administration, Faculty of Management Sciences, Lagos State University. His research interests are entrepreneurship and management. He has publications in local and foreign publication outlets.

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Published

2024-12-15

How to Cite

Elegunde, A. F., Okunbanjo, O. I., & Afolabi, B. K. (2024). PERSONALITY TRAITS AND ENTREPRENEURIAL PERFORMANCE OF SMALL BUSINESSES. International Journal of Entrepreneurial Knowledge, 12(2), 78–92. https://doi.org/10.37335/ijek.v12i2.246

Issue

Vol. 12 No. 2 (2024): International Journal of Entrepreneurial Knowledge

Section

Articles

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International Journal of Entrepreneurial Knowledge (ISSN 2336-2960) is published by the Center for International Scientific Research of VŠO and VŠPP in cooperation with the following partners:

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