Available via license: CC BY-ND 4.0
Content may be subject to copyright.
Intern. Journal of Profess. Bus. Review. |Miami, v. 9 | n. 12| p. 01-24 | e05112 | 2024. 1
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF
NIGERIAN INDIGENOUS OIL AND GAS SERVICE COMPANIES IN SELECTED SOUTH-
SOUTH STATES, NIGERIA
Enwere David Ihochukwu
A
, Asiabaka Ihuoma Pauline
B
, Ogolo John Ibinwangi
C
,
Ugwu Kelechi Enyinna
D
, Onyechere Patricia Onyinyechi
E
, Okoye Ujunwa Callista
F
ARTICLE INFO
ABSTRACT
Objective: This study examined the relationship between strategic entrepreneurship
and operational performance of Nigerian indigenous oil and gas service companies in
selected South-South States, Nigeria.
Theoretical Framework: The study adopted resource-based theory and Ansoff
strategic success theory.
Method: The study adopted survey research design at organisational unit of analysis
used five-points Likert scale questionnaire for data collection. The population of the
study was 1827 Nigerian indigenous oil and gas service compaines in selected South-
South States, Nigeria with sample size of 328 determined by Taro Yamane’s formula
and Bowley’s formula used for proportional allocation of firms. The reliability was
determined by Cronbach’s Alpha and construct validity by Pearson’s r, factor
analysis, Kaiser-Meyer-Olkin (KMO) and Bartlett’s Test of Sphericity. The data
analysis were descriptive and inferential statistics in Microsoft Excel Software
Package version 2016 and IBM Statistical Package for the Social Sciences (SPSS)
version 29 software application tools respectively. Pearson Product Moment
Correlation Coefficient (PPMCC) techniques was used to test the hypotheses.
Results and Discussion: The results showed that strategic entrepreneurship had
positive and significant relationship with operational performance of Nigerian
indigenous oil and gas service companies in selected South-South States, Nigeria.
Research Implications: The practical and theoretical implications of this research are
in the domain fields of strategic studies, strategic management, entrepreneurial
studies, strategic entrepreneurship, management sciences, management technology,
innovation, operations and performance management.
Originality/Value: The main contribution of this study is on developing a unique,
innovative and simplified framework that systematically aided the empirical analysis
Article history:
Received: Sep, 04th 2024
Accepted: Nov, 04th 2024
Keywords:
Strategic Entrepreneurship;
Operational Performance;
Nigerian Indigenous;
Oil and Gas Service Companies;
South-South States;
Nigeria.
A
PhD Student in Management Technology. Department of Management Technology, School of Management
Technology, Federal University of Technology. Owerri, Imo State, Nigeria.
E-mail: ihochide@yahoo.co.uk Orcid: https://orcid.org/0009-0009-6252-8074
B
PhD in Management. Department of Management Technology, School of Management Technology, Federal
University of Technology. Owerri, Imo State, Nigeria.
E-mail: ihuoma.asiabaka@futo.edu.ng Orcid: https://orcid.org/0009-0007-0651-2591
C
PhD in Management. Department of Management Technology, School of Management Technology. Federal
University of Technology. Owerri, Imo State, Nigeria. E-mail: john.ogolo@futo.edu.ng
D
PhD in Management. Department of Management Technology, School of Management Technology, Federal
University Of Technology. Owerri Nigeria.
E-mail: kelechi.ugwu@futo.edu.ng Orcid: https://orcid.org/0000-0002-7588-4723
E
PhD in Marketing. Department of Management Technology, School of Management Technology, Federal
University of Technology. Owerri Nigeria.
E-mail: patricia.onyechere@futo.edu.ng Orcid: https://orcid.org/0000-0002-4194-0088
F
PhD in Business Administration. Department of Management Technology, School of Management Technology,
Federal University of Technology, Owerri, Imo State, Nigeria. E-mail: zarahelenone@gmail.com
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 2
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
of the relationship between strategic entrepreneurship dimensions and operational
performance measures of Nigerian indigenous oil and gas service companies in
selected South-South States, Nigeria.
Doi: https://doi.org/10.26668/businessreview/2024.v9i12.5112
EMPREENDEDORISMO ESTRATÉGICO E DESEMPENHO OPERACIONAL DAS EMPRESAS
INDÍGENAS DE SERVIÇOS DE PETRÓLEO E GÁS DA NIGÉRIA EM SELECIONADAS ESTADOS
SUL-SUL, NIGÉRIA
RESUMO
Objetivo: Este estudo examinou a relação entre o empreendedorismo estratégico e o desempenho operacional das
empresas de serviços de petróleo e gás indígenas nigerianas em estados selecionados do Sul-Sul, na Nigéria.
Referencial Teórico: O estudo adotou a teoria baseada em recursos e a teoria do sucesso estratégico de Ansoff.
Método: O estudo adotou um desenho de investigação survey na unidade organizacional de análise e utilizou um
questionário em escala Likert de cinco pontos para a recolha de dados. A população do estudo foi constituída por
1.827 empresas indígenas nigerianas de serviços de petróleo e gás em estados selecionados do Sul-Sul, Nigéria,
com um tamanho de amostra de 328 determinado pela fórmula de Taro Yamane e pela fórmula de Bowley utilizada
para a alocação proporcional de empresas . A fiabilidade foi determinada pelo Alfa de Cronbach e a validade de
constructo pelo r de Pearson, análise fatorial, Kaiser-Meyer-Olkin (KMO) e Teste de Esfericidade de Bartlett. A
análise dos dados foi estatística descritiva e inferencial nas ferramentas de software Microsoft Excel Software
Package versão 2016 e IBM Statistical Package for the Social Sciences (SPSS) versão 29, respetivamente. As
técnicas do Coeficiente de Correlação do Momento do Produto de Pearson (PPMCC) foram utilizadas para testar
as hipóteses.
Resultados e Discussão: Os resultados mostraram que o empreendedorismo estratégico teve uma relação positiva
e significativa com o desempenho operacional das empresas indígenas nigerianas de serviços de petróleo e gás em
estados selecionados do Sul-Sul, na Nigéria.
Implicações da Pesquisa: As implicações práticas e teóricas desta investigação são nos campos dos estudos
estratégicos, gestão estratégica, estudos empreendedores, empreendedorismo estratégico, ciências da gestão,
tecnologia de gestão, inovação, operações e gestão do desempenho.
Originalidade/Valor: A principal contribuição deste estudo reside no desenvolvimento de uma estrutura única,
inovadora e simplificada que auxiliou sistematicamente a análise empírica da relação entre as dimensões
estratégicas do empreendedorismo e as medidas de desempenho operacional das empresas indígenas nigerianas de
serviços de petróleo e gás nos estados sul- sul seleccionados, na Nigéria.
Palavras-chave: Empreendedorismo Estratégico, Desempenho Operacional, Indígenas Nigerianos, Empresas de
Serviços de Petróleo e Gás, Estados Sul-Sul, Nigéria.
EMPRENDIMIENTO ESTRATÉGICO Y DESEMPEÑO OPERATIVO DE LAS EMPRESAS DE
SERVICIOS DE PETRÓLEO Y GAS INDÍGENAS NIGERIANAS EN ALGUNOS ESTADOS DEL
SUR-SUR DE NIGERIA
RESUMEN
Objetivo: Este estudio examinó la relación entre el emprendimiento estratégico y el desempeño operativo de las
empresas nigerianas de servicios de petróleo y gas en determinados estados del Sur-Sur de Nigeria.
Marco Teórico: El estudio adoptó la teoría basada en recursos y la teoría del éxito estratégico de Ansoff.
Método: El estudio adoptó un diseño de investigación de encuesta en la unidad de análisis organizacional que
utilizó un cuestionario de escala Likert de cinco puntos para la recopilación de datos. La población del estudio fue
de 1827 empresas de servicios de petróleo y gas indígenas nigerianos en estados seleccionados del sur-sur de
Nigeria, con un tamaño de muestra de 328 determinado por la fórmula de Taro Yamane y la fórmula de Bowley
utilizada para la asignación proporcional de empresas. La confiabilidad se determinó mediante el alfa de Cronbach
y la validez de constructo mediante la r de Pearson, el análisis factorial, Kaiser-Meyer-Olkin (KMO) y la prueba
de esfericidad de Bartlett. El análisis de datos fueron estadísticas descriptivas e inferenciales en las herramientas
de aplicación de software Microsoft Excel versión 2016 e IBM Statistical Package for the Social Sciences (SPSS)
versión 29 respectivamente. Se utilizaron técnicas de coeficiente de correlación del momento del producto de
Pearson (PPMCC) para probar las hipótesis.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 3
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Resultados y Discusión: Los resultados mostraron que el espíritu empresarial estratégico tenía una relación
positiva y significativa con el desempeño operativo de las empresas de servicios de petróleo y gas indígenas
nigerianas en determinados estados del Sur-Sur de Nigeria.
Implicaciones de la investigación: Las implicaciones prácticas y teóricas de esta investigación se encuentran en
los campos de estudios estratégicos, gestión estratégica, estudios empresariales, emprendimiento estratégico,
ciencias de la gestión, tecnología de gestión, innovación, operaciones y gestión del rendimiento.
Originalidad/Valor: La principal contribución de este estudio es el desarrollo de un marco único, innovador y
simplificado que ayudó sistemáticamente al análisis empírico de la relación entre las dimensiones del
emprendimiento estratégico y las medidas de desempeño operativo de las empresas nigerianas de servicios de
petróleo y gas en estados Sur-Sur seleccionados de Nigeria.
Palabras clave: Emprendimiento Estratégico, Desempeño Operativo, Pueblos Indígenas Nigerianos, Empresas de
Servicios de Petróleo y Gas, Estados Sur-Sur, Nigeria.
1 INTRODUCTION
The oil and gas sector in Nigeria has opened up many opportunities for Nigerian
entrepreneurs and businesses. Domestic entrepreneurial firms in Nigeria’s oil and gas sector
especially Nigerian indigenous oil and gas service companies need effective and efficient
business and operational systems, right mindset to grow in size, scope, scale and survive in the
competitive environment. These firms equally need strong corporate governance structure and
practices to increase their operational effectiveness and efficiency, increase their access to
capital, and reduce risks. Nigerian indigenous entrepreneurs and managers in this sector are
expected to adopt certain scientific management and innovative techniques like strategic
entrepreneurship to achieve sustainable competitive advantage supported by creativity and
innovation in taking full advantage of opportunities to outperform rivals in the market place.
To successfully cope with these new fundamentals, firms need to devise innovative ways and
means of developing strategic alternatives with which they can proceed as desired (Arokodare
et al., 2020). As stated by Arokodare and Asikhia. (2020), the essence of strategic
entrepreneurship as a business practice is to achieve a balance between the advantage-seeking
and opportunity-seeking activities for the growth and superior operational performance of firms
in highly uncertain and turbulent business environment like Nigeria’s oil and gas industry with
its exposure to price shocks and volatility linked to the international demand and supply
dynamics, geopolitics of the global energy markets coupled with the contemporary evolving
climate change and energy transition phenomena. Balance means simultaneous allocation of
resources between advantage-seeking and opportunity-seeking activities in ways that existing
competitive advantages are exploited and new business opportunities are explored for growth
and improved performance.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 4
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
In a highly dynamic and competitive business environment like Nigeria’s oil and gas
industry, the influence of strategic entrepreneurship on operational performance of Nigerian
indigenous oil and gas service firms is still limited and elusive. Despite existing related studies
and their findings on strategic entrepreneurship and operational performance in various
contexts, the subject has remained inconclusive and hugely debatable. A variety of industries,
economic sectors and geographical locations were used in earlier research conducted in other
parts of Nigeria and the world, none of these past studies were on strategic entrepreneurship
and operational performance of Nigerian indigenous oil and gas service companies in selected
South-South States, Nigeria. As stated by Miles. (2017) cited in Ugwu and Igbo. (2021), new
research gaps can be identified and developed based on evidence, knowledge, methodology,
scope, theories, and population gaps. These researchers have established gaps in terms of study
concept, methodology (population, sample size and sampling techniques, data classification
and analytical techniques), scope (content, geographic coverage and unit), and empirical
studies. These identified gaps in literature are what the present study seeks to fill by proffering
feasible solutions, make valuable contribution to the body of knowledge with practical policy
implication for implementation.
Therefore, to adequately and comprehensively address these research gaps, this study
intends to examine the extent to which entrepreneurial mindset and entrepreneurial orientation
as dimensions of the independent variables (strategic entrepreneurship) relate with productivity
and product and service quality respectively as measures of the dependent variables
(operational performance) of Nigerian indigenous oil and gas service companies in selected
South-South States, Nigeria.
1.1 PROBLEM STATEMENT
The indigenous oil and gas service companies that operate in Nigeria’s oil and gas
industry lack effective and efficient business and operational systems, right mindset to grow in
size, scope, scale and survive in the competitive environment. These firms equally are lacking
in strong corporate governance culture, structure and practices to increase their operational
effectiveness and efficiency, increase their access to capital, and reduce risks. Nigerian
indigenous entrepreneurs and managers in this sector are still lagging behind in adopting certain
scientific management and innovative techniques like strategic entrepreneurship to achieve
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 5
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
sustainable competitive advantage supported by creativity and innovation in taking full
advantage of opportunities to outperform rivals in the market place.
1.2 RESEARCH OBJECTIVES
The main objective of this study examined the relationship between strategic
entrepreneurship and operational performance of Nigerian indigenous oil and gas service
companies in selected South-South States, Nigeria. The specific objectives are as follows:
• To examine the extent to which entrepreneurial mindset relates to productivity of
Nigerian indigenous oil and gas service companies in selected South-South States,
Nigeria.
• To determine the extent to which entrepreneurial orientation relates to product and
service quality of Nigerian indigenous oil and gas service companies in selected South-
South States, Nigeria.
1.3 RESEARCH HYPOTHESES
• H01: Entrepreneurial mindset does not significantly relate to productivity of Nigerian
indigenous oil and gas service companies in selected South-South States, Nigeria.
• H02: Entrepreneurial orientation does not significantly relate to product and service
quality of Nigerian indigenous oil and gas service companies in selected South-South
States, Nigeria.
The remainder of this paper is structured as follows: Section 2 reviews literature on
strategic entrepreneurship and operational performance while, Section 3 discusses methodology
adopted for the study, Section 4 presents results and discussion and Section 5 contains
conclusion and recommendations.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 6
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
2 LITERATURE REVIEW
2.1 CONCEPTUAL REVIEW
2.1.1 Strategic entrepreneurship
Strategic entrepreneurship started from the field of economics and later expanded to
management field (Ukenna et al., 2019). Strategic entrepreneurship came into being by the
integration of strategic management and entrepreneurship literature in administrative and
management sciences (Kuratko & Audretsch, 2017). Strategic management has its root in
resource-based view (RBV) theory with emphasis on the strategic aspect while neglecting the
entrepreneurship aspect and the role of entrepreneurs in creating new opportunities for business
organisations. The understanding of entrepreneurial activities in strategic entrepreneurship was
further extended through the lense of three theoretical perspectives of critical realism,
nominalism and structuration which enhanced the opportunity-seeking activities of small
businesses like most firms operating as indigenous service firms in Nigeria’s oil and gas sector
(Ukenna et al, 2019).
Therefore, strategic entrepreneurship concept assumes that integrating and balancing
advantage-seeking and opportunity-seeking activities is essential for growth-oriented
businesses such as Nigerian indigenous oil and gas service companies. Balancing means that
resources are allocated between advantage-seeking and opportunity-seeking activities in a way
that existing competitive advantages are exploited and new business opportunities are
simultaneously explored (Ukenna et al, 2019). The balance in simultaneous advantage-
opportunity seeking objective of strategic entrepreneurship could be achieved through Ansoff’s
four growth pathways or strategies of market penetration, market development, product/service
development and product/service diversification in product/service-market combination matrix
(Ansoff, 2012) cited in Kyengo, Ombui and Iravo. (2016).
In such a highly competitive business environment, entrepreneurial managers of
Nigerian indigenous service companies operating in the oil and gas sector need to re-model
their businesses by acquiring resources and building the capabilities that will allow them to
adapt to environmental dynamics. In situations such as these, strategic entrepreneurship is
required to enable firms achieve and sustain competitive advantage beyond that of a short term
enabled by entrepreneurial competitiveness. The combination of strategic actions with
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 7
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
entrepreneurial initiatives will assure small and medium-sized indigenous oil and gas service
firms of sustenance of their competitive advantage and survival over time (Kantur, 2016).
Strategic entrepreneurship is a strategic perspective of entrepreneurial activities and a strategic
activity with entrepreneurial mindset (Chai & Sa, 2016). Furthermore, Tsai and Lei. (2016)
argues that entrepreneurship has a strong effect on strategy process and the combination of both
concepts lead to superior performance in organisations. Their study identified opportunity,
innovation, evaluation of uncertainty and risk taking as some of the dimensions common to
both entrepreneurship and strategy which are all key to value and wealth creation and the
ultimate success of the firms like the indigenous service companies operating in Nigeria’s oil
and gas sector.
From the foregoing, it is evident and worthy to note that strategic management and
entrepreneurship despite their different theoretical and interrelated backgrounds have close
association and some commonly identifiable variables that connect them which define firms’
value and wealth creation capabilities as well as organizational success of business enterprises.
Therefore, there is need to broadly explore and study the links between the fields of strategic
management and entrepreneurship as the new competitive landscape make entrepreneurial
strategy more important. Business enterprises are known to create value and wealth by
identifying opportunities in the environment and develop competitive advantage to exploit the
identified opportunities (Nezekolizibe & Gogo, 2019). This clearly shows that identification
and exploitation of opportunities to create value and wealth are at the very heart of both strategic
management and entrepreneurship classical concept of strength, weakness, opportunities and
threat (SWOT) framework (Nezekolizibe & Gogo, 2019).
Review of previous studies have shown that entrepreneurial mindset and entrepreneurial
orientation of firms might be promoted and measured through the adoption of strategic
entrepreneurship approach (Ukenna et al, 2019; Arokodare & Asikhia. 2020; Akokodare et al.,
2020; Makinde and Agu, 2018).
Accordingly, strategic plan needs to be developed for the sustainability of Nigerian
indigenous oil and gas service companies. Therefore, strategic entrepreneurship is a planning
and forecasting technique used by firms in taking full advantage of opportunities when
competing to outperform rivals. Strategic entrepreneurship is one of the approaches used by
firms to achieve sustainable competitive advantage supported by creativity and innovations.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 8
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
In this study, Strategic entrepreneurship is conceptualized as entrepreneurial mindset to
grow in size, scope and scale abridged as entrepreneurial mindset and entrepreneurial orientation in
business strategy and operational systems shortened as entrepreneurial orientation.
2.1.2 Operational performance
Performance is the essence of all processes and activities in organisations and it
determines the survival of an organisation. Performance is a manifestation of the way
organisations make the most of both tangible and intangible resources to accomplish their
objectives and is the acme of an organisation’s efforts (Sawaean & Ali, 2020). Performance
management is defined as the process of quantifying the effectiveness and efficiency of
strategies or actions. Therefore, the performance of the operational function serves as a measure
of whether an organization has realized its intended operations strategy or not. The contingency
theory in general states there is no single proper performance measurement system that can be
used for all types of organisations under all circumstances, instead, the system must be adapted
based on specific organisational and contextual factors, needs and expectations.
Evidence of several performance indicators abound in literature such as financial
performance, market share, effective marketing, innovation process, quality of products and
services that measure various dimensions of operational performance. Performance
measurement is generally divided into financial and non-financial performance.
Therefore, from this perspective, non-financial performance measures or operational
performance measures are seen as better indicators or predictors of future financial performance
since they provide an otherwise unavailable forward-looking information regarding business
activities and financial results that would have impact on business performance. For instance,
non-financial or operational performance measures like product and service quality and
productivity could give indications or predictions of future cash flow that would not be
available through any other means (Madueke & Kamala, 2016). Enhanced performance with
respect to operations is of interest if it has an effect on the organisation’s competitive position.
Organisations that could offer exceptional value and/or lower prices for products and services
would increase customer satisfaction, experience and loyalty which could potentially increase
their market share and maximize their revenue and profitability (Sawaean & Ali, 2020).
Therefore, operational performance involves structuring all business units within an
organisation to facilitate cooperation between these units in an effort to achieve core business
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 9
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
goals (Sawaean & Ali, 2020). Saleh et al., (2018) cited in Sawaean and Ali. (2020) defined
operational performance as a performance that is linked to the internal operations of an
organisation for instance productivity, product quality, service quality, effectiveness, lead time,
efficiency, dependability and customer satisfaction. Consequently, operational performance is
crucial for assessing how well operations support the overall business goal (Flynn, Huo & Zhao,
2009). With different developments taking place in the field of performance management,
research has progressed from using single measure of performance to broad operational
measures (Adel, 2015). The most common operational performance measures are productivity,
effectiveness, product and service quality, cost, speed, flexibility, dependability, reliability,
delivery, efficiency, customer satisfaction and employee training and development. Based on
the results and conclusion of previous studies, the non-financial performance measures or
operational performance components and indicators were used in the present study to measure
the performance of Nigerian indigenous oil and gas service companies in selected South-South
States, Nigeria. This study adopted productivity and product and service quality as measures of
operational performance.
2.1.3 Research conceptual framework and variables
Figure 1
Conceptual Framework of Strategic Entrepreneurship and Operational Performance of
Nigerian Indigenous Oil and Gas Service Companies in selected South-South States, Nigeria.
Source: Desk Research, 2024
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 10
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
2.2 THEORETICAL REVIEW
This paper adopted two theoretical assumptions and models namely: resource-based
theory and Ansoff strategic success theory which provided logical links between the
independent and dependent variables to achieve the research objective.
Resource-based theory (RBT) as a composite theory derived from the combination of
resource-based view and knowledge-based view was propounded by Wernerfelt in 1984 which
states that human capital administration can be of great contribution to the sustenance of
competitive advantage over rivals by creating knowledge awareness, abilities and culture within
the firm that cannot be easily imitated by other firms (Mata, Furest & Barney, 1995; Afiouni,
2007) cited in Okoi et al., (2021), (Theriou et al., 2009) cited in Kiyabo & Isaga. (2019).
Ansoff strategic success theory was developed in 1957 by Ansoff H. Igor credited as
the father of strategic management school of thought is a planning model or framework used
by an organisation to determine its activity, product and service strategy (Odhiambo &
Njuguna, 2021). Ansoff strategic success theory states that the optimal performance (i.e.
financial and non-financial) of a firm will be realised when the firm’s strategic aggressiveness
and the general management responsiveness capabilities are aligned with environmental
turbulence (Kipley & Lewis, 2009). The theory further states that there is a strong causal
relationship between formalized strategic planning and the achievement of optimal success of
an organisation (Abudawood, 2021; Odhuambo & Njuguna, 2021; Ansoff et al., 2019).
Therefore, this study was anchored on Asoff strategic success theory because the
concept has been found to be empirically linked with operational performance of firms. Ansoff
strategic success theory is valuable to the current study in explaining the effect of strategic
entrepreneurship on operational performance of Nigerian indigenous oil and gas service firms
in selected South-South States, Nigeria.
2.3 EMPIRICAL REVIEW
2.3.1 Strategic entrepreneurship and operational performance
Some studies stated positive effects while others stated negative effects and these
mixed results are due to the high level of competition and pattern of organizational structure
of different firms in Nigeria’s oil and gas industry space.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 11
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
The research by Enwere. (2023) investigated the relationship between strategic
entrepreneurship and operational performance of selected indigenous technical oilfield
services firms in Rivers State, Nigeria. The researcher used descriptive research design for
the study. A self-developed 5-points Likert scale squestionnaire based on the strategic
entrepreneurship and operational performance constructs was used for data collection. A
simple random sampling technique with the support of Taro Yamane’s formula were used to
determine the sample size of 72 indigenous technical oilfield services firms from the
population of 88 firms operating in Rivers State. The tests for reliability, validity and
normality were performed in IBM Statistical Package for the Social Sciences (SPSS) software
application version 29. The results of the study showed that positive strong and significant
relationships exist between the dimensions of strategic entrepreneurship and measures of
operational performance. The study concluded that strategic entrepreneurship could be a
leverage in gaining strong competitive advantage and sustained improvement in operational
performance of indigenous technical oilfield services firms.
The study by Anoke et al., (2022) employing a survey research design examined the
relationship between strategic entrepreneurial alliances and sustainable growth of small
businesses in Nigeria. The study involved a population of 3015 registered small businesses in
Abuja Metropolis and sample size of 520 respondents determined with Barlett, Kotilik and
Haggins. (2011) model of minimum sample determination. The data collection instrument was
a structured questionnaire which was subjected to both content validity and Cronbach’s Alpha
reliability tests. Multiple regression technique was used to assess the relationship between the
study variables. The results from the study revealed that both vertical and horizontal
integrations were strongly related to the growth and sustainability of small businesses. The
study recommended that small businesses desirous of growth and expansion to reach a wider
audience and search for new creative ways to increase its customer base through improved
competitive positioning and gain access to new markets, supplement critical skills, and share
the risks and costs of major developmental projects should strategically form alliances and
collaborate with other firms to ensure a continuous flow of inputs for uninterrupted operations
resulting to effective, efficient and reliable products distribution chain that guarantees firm’s
growth and sustainability.
The study of Arokodare and Asikhia. (2020) using cross-sectional survey research
design examined the moderating effect of external environment on the relationship between
strategic entrepreneurship and performance of selected oil and gas service firms in Lagos and
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 12
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Rivers States, Nigeria. The study was carried out with a target population of 9324 owners and
managers of oil and gas service companies operating in Lagos and Rivers States, Nigeria. A
multi-stage sampling technique was used to determine the sample size of 733 respondents using
the Cochran. (1977) formula while data was collected with the aid of a structured questionnaire
developed based on a 6-point Likert scale. The questionnaire construct and content validity
were ascertained through review, checks and correction by experts in the field of
entrepreneurship and strategic management while its reliability was ascertained based on
Cronbach’s Alpha coefficient which was greater than 0.7 for all questionnaire items. The data
were analysed with descriptive and inferential statistics of multiple and hierarchical regression
methods of analysis. The study findings revealed that strategic entrepreneurship components
(entrepreneurial orientation and planning flexibility) had significantly predicted and influenced
performance in terms of sales growth, market share and profitability of selected oil and gas
service firms in Lagos and Rivers States, Nigeria. The study recommended that oil and gas
service firms in Nigeria should continuously use entrepreneurial orientation measures in their
business function to improve sales growth, be more entrepreneurial by engaging in strategic
flexible planning to suit today’s dynamic business environment that will support the
achievement of desired market share performance, strategically minimize risk taking and
dynamically as well as efficiently plan their business activities to improve profitability, and
take into deep considerations all local and international business environmental factors in
planning their operations to survive, achieve sustainable competitive advantage and overall firm
performance.
Again, Ukenna et al., (2019) using survey research design examined the effect of
strategic entrepreneurship on organizational performance of selected Agricultural SMEs in
Lagos, Ogun and Oyo States, Nigeria. The study sample size was 376 of respondents
determined with Raosoft sample size calculator drawn from the population of 1152
owners/managers of selected SMEs in the Agricultural sector. Data were obtained from
respondents with adapted questionnaire as survey instrument, simple random sampling and
proportionate sample size techniques for the choice of respondents. The questionnaire was
subjected to validity and reliability tests using KMO and Cronbach’s Alpha coefficient
respectively. The data were analyzed with descriptive and inferential statistics in Statistical
Package for the Social Sciences (SPSS) version 23 software application. The research findings
revealed that strategic entrepreneurship had a significant effect on both social value creation
and customer satisfaction measures of organizational performance of SMEs in the agricultural
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 13
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
sector. The study recommended that SMEs in the agricultural sector should adopt strategic
entrepreneurship practices to optimize performance in terms of social value creation and
customer satisfaction.
Again, Kiyabo and Isaga. (2019) in their study using survey research design empirically
investigated the influence of strategic entrepreneurship on SMEs performance under the
mediation of competitive advantage in the welding industry in Tanzania. The researchers
employed cross-sectional design and structured questionnaire in collecting data from a sample
of 300 respondents determined by the rule of the thumb based on the requirements of factor
analysis and structural equation modelling techniques in the three purposively selected urban
centres of Dar es Salam, Mbeya and Morogoro in Tanzania. The data were analyzed with the
aid of Statistical Package for the Social Sciences (SPSS) computer software for descriptive
statistics while the inferential statistics was done with the aid of Analysis of Moment Structures
(AMOS) computer software were determined using structural equation modelling techniques
which consisted of confirmatory factor analysis and latent variable path analysis. The results of
the study revealed that learning orientation influences entrepreneurial orientation which
influences strategic resource management to create competitive advantage that promotes SMEs
performance in the welding industry in Tanzania. Therefore, the study recommended that SMEs
managers are encouraged to embrace learning orientation to continuously create competitive
advantage that leads to superior performance.
Shirokova, Ivvonen and Gafforova. (2019) using a survey research design method
explored the relationship between different components of strategic entrepreneurship
(entrepreneurial mindset, innovation, managing resources strategically and competitive
advantage) and SMEs performance in Russia during economic crisis. The study used a
standardized questionnaire based on a 7-point Likert scale and applied simple random sampling
technique to collect data from a sample size of 656 respondents drawn from a population of
2583 SMEs selected from different economic sectors in Russia. The reliability of the survey
instrument was tested using Cronbach’s Alpha coefficient. The data were analyzed with
descriptive and inferential statistics. The findings from the study suggested that the
entrepreneurial components of strategic entrepreneurship are positively related to SMEs
performance in Russia during economic crisis. The study recommended that SMEs top
managers as corporate decision makers saddled with the responsibility of crafting and
implementing strategies should realize that combing specific strategic entrepreneurship
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 14
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
components which results to improved performance under stable conditions can have negative
consequences during economic crisis.
The research by Makinde and Agu. (2018) investigated the effect of strategic
entrepreneurship on performance of selected SMEs in Aba Metropolis using the survey research
design approach. The total population of the study was 231 and a census population sampling
technique was adopted because the population was not large enough. A structured questionnaire
adapted from previous studies based on its validity and reliability results was used as the survey
instrument to collect data from respondents which were the owners and management level
employees in selected SMEs. The adapted questionnaire was further tested for validity through
the exploratory factor analysis using principal component extraction method and reliability
using Cronbach’s Alpha statistics while the data analysis was performed with the use of simple
linear regression analysis in Statistical Package for the Social Sciences (SPSS) software. The
study results revealed that strategic entrepreneurship variables of entrepreneurial education,
entrepreneurial leadership, entrepreneurial knowledge and entrepreneurial orientation have
positive and significant effect on performance measures of entrepreneurial efficiency,
employee turnover intention, entrepreneurial skills and entrepreneurial innovation of selected
SMEs. The study recommended that the owners and managers of SMEs need to continuously
acquire entrepreneurial education for themselves and their employees, engage more in
transformational leadership style as it is likely to reduce the rate of employee turnover intention,
increase the level of entrepreneurial knowledge they have in order to gain competitive
advantage and continuously orient both old and new staff members on new process and product
innovation through periodic market research to operate competitively, profitably and
significantly contribute to the economic recovery and growth plan of Nigeria.
3 METHODOLOGY
The study adopted survey research design. The study which was at the organisational
unit of analysis used a self-developed and administered five-points Likert scale questionnaire
as instrument of data collection from management level respondents. One respondent in
management level position with necessary knowledge and experience in oil and gas services
business strategy, management and operations was targeted per firm. The population of the
study was 1827 Nigerian indigenous oil and gas service firms in Nigeria obtained from Nigerian
Content Development and Monitoring Board (NCDMB) approved register and Petroleum
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 15
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Technology Association of Nigeria (PETAN) membership directory. The study sample size
was 328 determined through stratified and simple random sampling techniques using Taro
Yamane’s formula for sample size determination and Bowley’s formula for proportional
sample size allocation. Data gathered from the field work were analysed using descriptive and
inferential statistics in Microsoft Excel Software Package version 2016 and IBM Statistical
Package for the Social Sciences (SPSS) version 29 software application tools respectively. The
descriptive statistics were in mean and standard deviation. Pearson correlational analysis was
the inferential statistical technique used to establish the strength and direction of the relationship
between independent and dependent variables of the study at 0.05 level of significance.
4 RESULTS AND DISCUSSION
4.1 QUESTIONNAIRE RESPONSE RATE
Table 1
Questionnaire Response Rate
Details
Particulars
Frequency
Percentage (%)
Questionnaire
Response
292
89%
Non-Response
36
11%
Total Distributed
328
100%
Source: Authors Computation, 2024
Table 1 shows that a total of 328 copies of questionnaire were administered to
management level respondents in sampled companies, out of which 292 representing 89% were
retrieved from the field work and found useable for data analysis. However, 36 copies of the
questionnaire representing 11% were found unfit for data analysis because they were either not
properly completed or not retrieved from the field. Therefore, the response rate of 89% was
found adequately good for the purposes of data analysis in this study, thereby meeting the
threshold of Allen. (2016) and Rindfuss et al., (2015) cited in Kariuki, Wachira and Mwenda.
(2022) who posited that a response rate of above 50% is adequate for descriptive and inferential
analysis in research.4.2 RELIABILITY AND VALIDITY TESTS RESULTS
The tabulated results of reliability and validity tests are shown and discussed as follows:
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 16
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Table 2
Reliability and Validity Tests Results
Reliability
Validity
S/No
Variables
Variables
Code
Number
of Items
Number of
Respondents
Cronbach's
Alpha
Pearson's
r Count
Pearson's r
Table 5%
(292 - 2)
P-Value
KMO
Bartlett's
Test of
Sphericity
Sig.
1
Entrepreneurial
Mindset
EM
5
292
0.83
0.540
0.195
0.000
0.809
637.471
0.000
2
Entrepreneurial
Orientation
EO
5
292
0.84
0.565
0.195
0.000
0.822
642.104
0.000
3
Productivity
P
5
292
0.83
0.592
0.195
0.000
0.808
544.413
0.000
4
Product and
Service
Quality
PSQ
5
292
0.77
0.550
0.195
0.000
0.757
375.162
0.000
Source: IBM SPSS 29 Output, 2024
Table 2 shows reliability test results of the study variables based on Cronbach’s Alpha
coefficient. As stated by Tavakol and Dennick, (2011) cited in Baridam and Govender, (2019),
if Cronbach’s Alpha test result ≥ 0.7, the reliability is considered high; if Cronbach’s Alpha test
result ≥ 0.5, the reliability is acceptable; if the Cronbach’s Alpha test result ≤ 0.5, the reliability
is considered poor. The Cronbach’s Alpha coefficient values were all greater than 0.7. Thus,
the results were acceptable as per the threshold given by Sekaran and Bougie. (2019) cited in
Kariuki, Wachira and Mwenda. (2022) who stated that Cronbach’s Alpha coefficient greater
than or equal to 0.7 is acceptable for basic and advanced research. This shows that the Likert
scale questionnaire items and statements have high reliability as the Cronbach’s Alpha values
were all higher than the recommended and acceptable values of ≥ 0.5 and ≥ 0.7. Meanwhile,
Safali and Akpunar. (2020) explained that reliability can be seen from two sides: reliability (the
extent of accuracy) and unreliability (the extent of inaccuracy).
Also, table 2 shows construct validity test results for each variable of the variables based
on Pearson’s r in IBM SPSS version 29. The basic decision rules for construct validity test with
Pearson’s r are as follows: Comparing the values of Pearson’s r count with Pearson’s r table. If
the value of r count > r table, test result is valid and if the value of r count < r table, test result
is invalid. Again, taking decision based on the result of the significance (sig) or probability
value (p-value), if the significance value or p-value < 0.05, test result is valid while if the
significance value or p-value > 0.05, test result is invalid. The construct validity test result based
on Pearson’s r table with total sample size N = 292 at 0.05 level of significance and a degree of
freedom of N – 2 i.e. r table at 5% (292 – 2) value = 0.195 shown in table 2 were valid for all
study variables.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 17
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Again, factor analysis was used to test construct validity of the research instrument by
using Kaiser-Meyer-Olkin (KMO) measure of sampling adequacy and Bartlett’s test of
Sphericity with interpretive adjectives. The KMO decision criteria is stated as follows: KMO
value less than 0.5 is considered poor; KMO value between 0.5 and 0.6 is considered average;
KMO value between 0.7 and 0.8 is considered good; KMO value more than 0.8 is considered
excellent (Simon & Goes, 2016) cited in Kariuki, Wachira & Mwenda. (2020). The KMO value
for each variable is greater than 0.5 meaning that the questions actually measured the variables
of the study. Similarly, Bartlett’s test of Sphericity test whether the correlation matrix among
the variables is an identity (where the diagonal values is 1, and the off-diagonal values is 0)
with the level of significant in this case p-value of the test less than 0.05. Bartlett’s test of
Sphericity value for each study variable has 0.000 significance which is less than 0.05 level of
significance indicating no significant correlations among the variables. Therefore, KMO and
Bartlett’s test of Sphericity results indicated that statements that comprised the research
instruments of each variable actually measures what were intended to be measured.
The research instrument was reviewed and discussed with academic and research
experts from Federal University of Technology, Owerri (FUTO) who provided expertise and
ensured the statements in the questionnaire measured the study variables.
Table 3
Descriptive Statistics
S/No
Variables
Number of
Respondents
Mean
Standard
Deviation
1
Entrepreneurial Mindset
292
4.4486
0.4464
2
Entrepreneurial Orientation
292
4.4466
0.5111
3
Productivity
292
4.5432
0.3985
4
Product and Service Quality
292
4.5411
0.3900
Source: IBM SPSS 29 Output, 2024
Table 3 shows that the average mean value of the study variables was 4.4949 while the
average standard deviation of the study variables was 0.4365 meaning that the respondents’
opinions were not significantly different from the mean values.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 18
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
4.2 CORRELATION ANALYSIS
For most pairs of our study variables in table 4, the correlation matrix demonstrates that
the Pearson correlation coefficients were weak, positive and significant while only a pair had
weak, positive and insignificant correlation coefficients.
Table 4
Correlation Matrix of the Variables
S/No
Variables
EM
EO
P
PSQ
1
EM
1.000
2
EO
0.215**
(0.000)
1.000
3
P
0.202**
(0.001)
0.201**
(0.001)
1.000
4
PSQ
0.108
(0.065)
0.132**
(0.024)
0.245**
(0.000)
1.000
**. Correlation is significant at 0.05 level (2-tailed) P-Value in Parenthesis
Source: IBM SPSS 29 Output, 2024
4.3 TEST OF RESEARCH HYPOTHESES
The decision criteria for hypothesis testing using Pearson Product Moment Correlations
Coefficient (PPMCC) r, based on the strength and direction of the relationship between the
study variables are as follows: reject the null hypothesis (Ho) if the p-value is ≤ 0.05; otherwise
accept the alternate hypothesis (Ha).
Table 5
Pearson Product Moment Correlations of Entrepreneurial Mindset and Productivity.
Entrepreneurial Mindset
Productivity
Entrepreneurial Mindset
Pearson
Correlation
1
.202**
Sig (2-tailed)
0.001
N
292
292
Productivity
Pearson
Correlation
.202**
1
Sig (2-tailed)
0.001
N
292
292
**. Correlation is significant at 0.05 level (2-tailed)
Source: IBM SPSS 29 Output, 2024
Table 5 shows a Pearson Product Moment Correlations Coefficient of r = .202, N = 292
and a probability value of 0.001. Therefore, as stated in the decision criteria, the null hypothesis
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 19
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
(Ho) for this relationship which states that entrepreneurial mindset does not significantly relate
to productivity of Nigerian indigenous oil and gas service companies in selected South-South
States, Nigeria is rejected. In contrast, the alternate hypothesis (HA) which states that
entrepreneurial mindset significantly relates to productivity of Nigerian indigenous oil and gas
service companies in selected South-South States, Nigeria is accepted because the probability
value of 0.001 is less than the critical value at 0.05 level of significant (2-tailed). This result is
consistent with the findings of Anoke et al., (2022) that examined the relationship between
strategic entrepreneurial alliances and sustainable growth of small businesses which revealed
that vertical and horizontal integrations were strongly related to the growth and sustainability
of small businesses. This result also confirmed the findings of Ukenna et al., (2019) which
examined the effect of strategic entrepreneurship on organizational performance of selected
Agricultural SMEs in Lagos, Ogun and Oyo States which established that strategic
entrepreneurship had significant effect on social value creation measures of organizational
performance. This result is in tandem with the findings of Shirokova, Ivvonen and Gafforova.
(2019) that investigated the relationship between different components of strategic
entrepreneurship (entrepreneurial mindset, innovation, managing resources strategically and
competitive advantage) and SMEs performance in Russia during economic crisis which
confirmed that entrepreneurial mindset was positively related to SMEs performance.
Table 6
Pearson Product Moment Correlations of Entrepreneurial Orientation and Product and
Service Quality
Entrepreneurial
Orientation
Product and Service
Quality
Entrepreneurial Orientation
Pearson
Correlation
1
.132**
Sig (2-tailed)
0.024
N
292
292
Product and Service Quality
Pearson
Correlation
.132**
1
Sig (2-tailed)
0.024
N
292
292
**. Correlation is significant at 0.05 level (2-tailed)
Source: IBM SPSS 29 Output, 2024
Table 6 shows a Pearson Product Moment Correlations Coefficient of r = .132, N = 292
and a probability value of 0.024. Therefore, as stated in the decision criteria, the null hypothesis
(Ho) for this relationship which states that entrepreneurial orientation does not significantly
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 20
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
relate to product and service quality of Nigerian indigenous oil and gas service companies in
selected South-South States, Nigeria is rejected. On the other hand, the alternate hypothesis
(HA) which states that entrepreneurial orientation significantly relates to product and service
quality of Nigerian indigenous oil and gas service companies in selected South-South States,
Nigeria is accepted because the probability value of 0.000 is less than the critical value at 0.05
level of significant (2-tailed). This result is consistent with similar findings by Arokodare and
Asikhia. (2020) that examined the moderating effect of external environment on the relationship
between strategic entrepreneurship and performance of selected oil and gas service firms in
Lagos and Rivers states, Nigeria which showed that entrepreneurial orientation significantly
predicted and influenced performance in terms of sales growth, market share and profitability.
Moreso, this result aligned with the findings of Kiyabo and Isaga. (2019) that empirically
investigated the influence of strategic entrepreneurship on SMEs performance under the
mediation of competitive advantage in the welding industry in Tanzania which revealed that
entrepreneurial orientation significantly influenced welding industry SMEs performance.
Again, this result confirmed the findings of Makinde and Agu. (2018) that examined the effect
of strategic entrepreneurship on performance of selected SMEs in Aba Metropolis of Abia State
in Nigeria which found that entrepreneurial orientation had positive and significant effect on
performance measures of entrepreneurial efficiency, employee turnover intention,
entrepreneurial skills and entrepreneurial innovation. Furthermore, this finding aligned with the
results of Enwere. (2023) that studied the relationship between strategic entrepreneurship and
operational performance of selected indigenous technical oilfield services firms in Rivers State,
Nigeria which established that strong, positive and significant relationship exist between
entrepreneurial orientation and service quality.
5 CONCLUSION AND RECOMMENDATIONS
5.1 CONCLUSION
In conclusion, two hypotheses were tested in this study with their findings already
discussed in a previous section of this research paper. Therefore, table 7 summarizes the results
of the research hypotheses testing in which all null hypotheses were rejected while the alternate
hypotheses were accepted.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 21
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Table 7
Summary of Hypotheses Testing and Results
S/No
Hypotheses
Results
1
H01: Entrepreneurial Mindset does not significantly relate to Productivity of Nigerian
indigenous oil and gas service companies in selected South-South States, Nigeria.
Rejected
2
H02: Entrepreneurial Orientation does not significantly relate to Product and Service
Quality of Nigerian indigenous oil and gas service companies in selected South-South
States, Nigeria.
Rejected
Source: Authors Research Desk, 2024
5.2 RECOMMENDATIONS
Based on the results, the study recommends the following:
1. Owners/Managers and employees of Nigerian indigenous oil and gas service companies
should have entrepreneurial mindset to manage and grow their companies in size, scope
and scale since it was discovered to significantly and positively to productivity indicator
of operational performance.
2. Owners/Managers and employees of Nigerian indigenous oil and gas service firms
should always adopt entrepreneurial orientation approaches in managing their business
strategy and operational systems as it was established to significantly and positively
relate to product and service measure of operational performance.
3. Policy makers and regulators in Nigeria’s oil and gas industry should include strategic
entrepreneurship assessment kits in their policy performance monitoring and evaluation
activities as it was established to significantly and positively affect operational
performance.
REFERENCES
Abudawood, B. (2021). Understanding corporate strategy theory through the lens of Igor
Ansoff.
Adel, N. (2015). Development of Performance Measurement Model for Oil Operations: A Study
of Libyan Oil Companies. (Doctoral Dissertation). Brunel University London, United
Kingdom.
Afiouni, F. (2007). Human Resource Management and Knowledge Management: A road map
toward improving organizational performance. Journal of American Academy of Business,
Cambridge, 11(2).
Allen, D. S. (2016). The impact of shortening a long survey on response rate and response
quality. (Doctoral Dissertation).
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 22
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Anoke, A. F., Osita, F. C., Okafor, J. N., & Nzewi, H. N. (2022). Strategic Entrepreneurship
Alliances and Sustainable Growth of Small Businesses in Nigeria: The Nexus. Global
Journal of Management and Business Research: A Administration and Management, Vol.
22, Issue 7, Version 1, pp. 12 – 19.
Ansoff, H. I. (2012). Corporate Strategy, McGraw-Hill, New York.
Ansoff, H. I., Kipley, D., Lewis, A. O., Helm-Stevens, R., & Ansoff, R. (2019). From Strategic
Planning to Strategic Management. In Implanting Strategic Management (pp. 41-52).
Palgrave Macmillan, Cham.
Arokodare, M. A., & Asikhia, O. U. (2020). The Moderating Effect of External Environment
on the Relationship Between Strategic Entrepreneurship and Performance of Selected Oil
and gas Service Firms in Lagos and Rivers States, Nigeria. Review of European Studies,
Vol. 12, No. 2, pp. 85 – 106. Published by Canadian Centre of Science and Education.
Arokodare, M. A., Kuforiji, A. A., Makinde, O. G., & Asikhia, O. U. (2020). Strategic
Entrepreneurship and Superior Firm Performance: The Moderating Role of Entrepreneurial
Mindset. Journal of Critical Reviews, Vol. 9, pp. 1975 – 1987.
Baridam, B. B., & Govender, I. (2019). ICT Influence on the Healthcare sector in the Niger
Delta region: ICT policy at an organizational level. Development Studies Research, Vol.6,
1, pp:142 – 151.
Bartlett, J. E., Kotilik, J. W., & Higgins, C. C. (2011). Organizational Research: Determining
Appropriate Sample Size in Survey Research. Information Technology, Learning and
Performance Journal, 19(1), pp. 43 – 50.
Chai, Y. M., & Sa, M. L. L. (2016). Strategic Entrepreneurship and performance of small and
medium enterprises of Malaysia. The International Journal of Business & Management,
4(2), pp. 116–122.
Cochran, W. G. (1977). Sampling Techniques. New York: John Wiley and Sons, 3rd Edition.
Enwere, D. I. (2023). Strategic entrepreneurship and operational performance of selected
indigenous technical oilfield services firms in Rivers State, Nigeria. (Doctoral Seminar).
Federal University of Technology, Owerri, Imo State.
Flynn, B.; Huo, B., & Zhao, X. (2009). The impact of supply chain integration on performance:
A contingency and configuration approach. Journal of Operations Management, 28, pp.
58 –71.
Kantur, D. (2016). Strategic entrepreneurship: Mediating the entrepreneurial orientation-
performance link. Management Decision, 54(1), pp. 24-43.
Kariuki, D. K., Wachira, A. W., & Mwenda, L. K, (2022). Entrepreneurial Mindset and
Innovation by 1–3 Star Rated Hotels in Kenya. Journal of Business and Strategic
Management. Vol.7, Issue 1, pp. 1 – 18.
Kipley, D., & Lewis, A. O. (2009). Ansoff strategic success paradigm – Empirical evidence
supports its success with firms competing in a turbulent environment. Why then is it absent
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 23
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
from academic strategic management textbooks. Organisation and Management
Quarterly, 4(8), 71-88.
Kiyabo, K., & Isaga, N. (2019). Strategic Entrepreneurship, competitive advantage, and SMEs’
performance in the welding industry in Tanzania. Journal of Global Entrepreneurship
Research, 9(62), pp. 1-23.
Klynveld Peat Marwick Goerdeler, KPMG. (2016). Unsung workhorses of the oil industry.
Kuratko, D. F. & Audretsch, B. (2017). Strategic Entrepreneurship: Exploring different
perspectives of an emerging concept. Entrepreneurship Theory and Practice Journal,
33(1), pp. 1-7.
Kyengo, J. W., Ombui, K., & Iravo, M. A. (2016). Influence of competitive strategies on the
performance of telecommunication companies in Kenya. International Academic Journal
of Human Resource and Business Administration, 2(1), pp. 1-16.
Maduekwe, C. C., & Kamala, P. (2016). Performance measurement by small and medium
enterprises in Cape Metropolis, South Africa. Problems and Perspective in Management.
14(2), pp. 46 – 55.
Makinde, O. G., & Agu, C. U. (2018). Strategic Entrepreneurship and Performance of Small
and Medium Scale Enterprises in Aba Metropolis. Archives of Business Research, 6(9), pp.
49-69.
Mata, F. J., Furet, W. L., & Barney, J. B. (1995). Information technology and sustained
competitive advantage: A Resource-Based Analysis. MIS Quarterly, 19(4), pp. 487 – 505.
Miles, D. A. (2017). A Taxonomy of Research Gaps: Identifying and Defining the Seven
Research Gaps. In Doctoral Student Workshop. Finding Research Gaps – Research
Methods and Strategies, Dallas, Texas.
Nezekolizibe, T., & Gogo, R. A. (2019). Entrepreneurship and Strategic Management: A
Critical Review on the Relationship between these Paradigms. European Journal of
Research and Reflections in Management Sciences, Progressive Academic Publishing, UK,
Vol. 7. No. 2, pp. 14 – 24.
Odhiambo, E. E., & Njuguna, R. (2021). Strategic Management Practices and Performance of
Health Non-Governmental Organisations in Nairobi City, County, Kenya. Journal of
Strategic Management, 6(1), pp. 1-16.
Okoi, I., Ubi, I., Ihenacho, M., Emori, E., & Sunday, E. (2022). Strategic Entrepreneurship
Practices and Performance of Small and Medium-sized Enterprises in Nigeria. Problems
and Perspectives in Management, 20(1), pp. 108 – 116.
Rindfuss, R. R., Choe, M. K., Tsuya, N. O., Bumpass, L. L., & Tamaki, E. (2015). Do low
survey response rates bias results? Evidence from Japan. Demographic Research, 32, 797
– 828.
Safali, S., & Akpunar, B. (2020). Validity and Reliability Study of Academic Self-Efficacy
Scale for Faculty Members. Advances in Language and Literary Studies, 11(4), 21 – 29.
Intern. Journal of Profess. Bus. Review. | Miami, v. 9 | n. 12 | p. 01-24 | e05112 | 2024 24
Ihochukwu, E. D., Pauline, A. I., Ibinwangi, O. J., Enyinna, U. K., Onyinyechi, O. P., & Callista, O. U. (2024)
STRATEGIC ENTREPRENEURSHIP AND OPERATIONAL PERFORMANCE OF NIGERIAN INDIGENOUS OIL
AND GAS SERVICE COMPANIES IN SELECTED
SOUTH-SOUTH STATES, NIGERIA
Sawaean, F. A. A., & Ali, K. A. M. (2020). The impact of entrepreneurial leadership and
learning orientation on organizational performance of SMEs. The mediating role of
innovation capacity. Management Science Letters 10, pp.369–380. Growing Science,
Canada.
Sekaran, U., & Bougie, R. (2019). Research Methods for Business: A Skill Building Approach.
John Wiley & Sons
Simon, M., & Goes, J. (2016). Reliability and validity in quantitative studies. Doctoral
Dissertation.
Shirokova, G., Ivvonen, L., & Gafforova, E. (2019). Strategic Entrepreneurship in Russia
during Economic Crisis. Foresight and STI Governance, Vol. 13, No.3. pp. 62 – 76.
Tavakol, M., & Dennick, R. (2011). Making Sense of Cronbach’s Alpha. International Journal
of Medical Education 2: 53–55.
Theriou, N. G., & Aggelids, V. (2009). A theoretical framework contrasting the resource-based
perspective and the knowledge-based view. European Research Studies, 12(3), pp. 177 –
190.
Tsai, I. C., & Lei, H. S. (2016). The importance and satisfaction of collaborative innovation for
strategic entrepreneurship. Eurasia Journal of Mathematics, Science & Technology
Education, 12(3), pp. 569-582.
Ugwu, K. E., & Igbo, R. C. (2021). Manpower Training and Employee Development (A case
study of Access Bank Plc, ObioAkpor Local Government Area, Port Harcourt Metropolis,
Rivers State). Journal of Applied Management, Vol.19, No.2, pp. 245 – 256.
Ukenna, B. I., Makinde, G. O., Akinlabi, H. B., & Asikhia, O. U. (2019). Strategic
entrepreneurship and organizational performance of selected agricultural SMEs in Lagos,
Ogun and Oyo States, Nigeria. International Journal of Development Strategies in
Humanities, Management and Social Sciences, 9(3), pp. 89-128.
Wernerfert, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(4),
pp. 171 – 180.
