EFFECTS OF CREATIVITY AND INNOVATION ON THE ENTREPRENEURIAL PERFORMANCE OF FAMILY BUSINESS
(A STUDY OF SELECTED FAMILY BUSINESSES IN LAGOS STATE)
By
OSAENWE TIMOTHY ADEGBOYEGA CU031100172
Presented To
Department of
Business Administration and Management
ABSTRACT
This research study examined the effects of creativity and innovation on the Entrepreneurial
performance of family businesses. The objective of the research was to examine the effects of
creativity and innovation on entrepreneurial performance of family business. Both primary and
secondary data were used for the data gathered. The survey research method was used through
the distribution of 200 questionnaires to 20 family businesses in the Lagos metropolis. The
family businesses used for this study included the following Techoquip Limited, Deorenik
Limited, Ajoke Stores Limited, Eagles Path Limited, Olaolu Trading Stores, Obosi & Co Limited,
Eleganza, Bode Best & Co Limited, AA Shittu & Co Limited, Elizade Nigeria Limited,
Ekenedilichukwu Transport, CN Okoli Motors, Diya Fatimileyin & Co Limited, Jide Taiwo & Co
Limited, Howard Daffinone Consulting, Rotimi Williams Firm, BraithWhyte Group, and
Emmalesson Group, Ibru Group of Companies, and OBAT petroleum group. ANOVA test
statistics was used to test the three hypotheses of the research. In analysis of the data gathered, it
was found that creativity and innovation through product quality, new technology, and new
product development significantly affect the performance of family businesses. The study
recommends that family businesses should engage more on technology in improving the quality
of their product so as to sustain their organisation’s position in the face of competition.
Table of Contents
Cover Page Pages
Title Page - - - - - - - - - - ii
Certification - - - - - - - - - iii
Declaration - - - - - - iv
Dedication - - - - - - v
Acknowledgements - - - - - vi
Abstracts - - - - - - vii
Table of Contents - - - - - viii
List of Tables - - - - - - xi
CHAPTER ONE: INTRODUCTION
10 Background to the Study - - - - - 1
11 Statement of Research Problems - - - - - 3
12 Objectives of the Study - - - - - 5
13 Research Questions - - - - - 5
14 Research Hypotheses - - - - - 5
15 Significance of the Study - - - - - 6
16 Methodology - - - - - - 7
17 Scope of Study - - - - - - 7
18 Limitation of the Study - - - - - 8
19 Outline of Chapters - - - - - 8
110 Operationalization of Variables - - - - - 9
111 Definition of Terms - - - - - 10
CHAPTER TWO: LITERATURE REVIEW
20 Introduction - - - - - - 12
21 Conceptual Framework - - - - - 12
211 Family Business - - - - - 12
212 Importance of Family Business - - - - 16
213 Characteristics of Family Business - - - - 17
214 Challenges of Family Business - - - - 19
215 Creativity - - - - - - 21
216 Enhancing Creativity in Organization - - - - 22
217 Innovation - - - - - - 23
218 Classification of Innovation - - - -
24
219 Managing Creativity and Innovation - - - - 25
2110 The Need for Creativity and Innovation in Family Business - - - 27
22 Theoretical Framework - - - - - 27
221 The Disruptive Technology Theories - - - - - - - 27
23 Empirical Framework - - - - - - - - 30
231 Creativity, Innovation and Performance - - - - 30
232 Product Quality and Business Performance - - - 32
233 Technology and Business Performance - - - 32
CHAPTER THREE: RESEARCH METHODOLOGY
30 Introduction - - - - - - 34
31 Research Methods - - - - - - - - 34
32 Research Design - - - - - - 35
33 Population of the Study - - - - - 36
34 Sample Size Determination - - - - - 36
35 Sampling Technique and Procedures - - - - 37
36 Source of Data - - - - - 37
37 Research Instruments - - - - - 38
38 Validity of Research Instrument - - - - 38
39 Reliability of Research Instrument - - - - 39
310 Method of Data Analysis - - - - - 40
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION
40 Introduction - - - - - - 41
41 Data Presentation - - - - - - - - - 41
42 Analysis of Data and Interpretation - - - - - 41
43 Testing of Hypotheses and Discussion of Results - - - - 54
CHAPTER FIVE: SUMMARY OF THE FINDINGS, CONCLUSION AND
RECOMMENDATIONS
51 Summary of work - - - - - 60
52 Summary of the Findings - - - - - 61
521 Theoretical Findings - - - - - 61
522 Empirical Findings - - - - - 61
53 Conclusion - - - - - - 62
54 Recommendations - - - - - 63
55 Suggestions for Further Studies - - - - - 63
Bibliography - - - - - - 65
Appendices - - - - - - 72
List of Tables
Cover Page Pages
Table 31 Reliability Statistics - - - - - 38
Table 41 Gender of Respondents - - - - - 40
Table 42 Marital Status of Respondents - - - - - 41
Table 43 Work Experience of Respondents - - - - 41
Table 44 Educational Qualification - - - - - 41
Table 45 Organization of Respondents - - - - - 42
Table 46 Management Category of Respondents - - - - 42
Table 47 Years in Operation of Family Business - - - - 43
Table 48 Types of Industry - - - - - - 43
Table 49 The Quality of our product has made the products more acceptable in the market - 44
Table 410 The goodwill of our Firm has Improved as a Result of the Quality of our Product - 44
Table 411 Our Firm Engages in Activities that lead to Creation of Quality Products - - 44
Table 412 Our Quality Control Process has been of Advantage to our Organization - 45
Table 413 The Quality of our Products has Enhanced the Pricing of the Products - - 45
Table 414 Our Firm Engages New Technology in Designing our Products - - 45
Table 415 Our Firm Uses New Technology in the Production of our Products - - 46
Table 416 Our Firm Uses New Technology in the Efficient Utilization of Raw Materials in production46
Table 417 New Technology has Made the Production Process Easier - - - 47
Table 418 New Technology in our Production Process has cut down Cost of Production - 47
Table 419 New Product Development has led to the Creation of a Whole New Product in our Firm - 47
Table 420 New Product Development has led to the Upgrade and Rebranding of an Existing Product - 48
Table 421 The Quality of our Product has been Improved by New Product Development - - 48
Table 422 New Product Development has made us gain Continuous Relevance in the Industry - 49
Table 423 Our Product Lines has Become more Acceptable by Customers - - 49
Table 424 Quality of our Product has resulted in Consumer Satisfaction - - 49
Table 425 The Quality of our Product has led to Increased Revenue Flow - - - 50
Table 426 The Quality of our Product has Evidently influenced the level of Productivity - 50
Table 427 Our Continued Existence can be greatly linked to the Quality of Product - 50
Table 428 New Technology has led us to design and create a product that gives us the
Competition Advantage - - - - - 51
Table 429 New Technology we acquired has greatly increased our level of productivity - 51
Table 430 The Revenue of the firm has increased as a result of the new technology employed - 51
Table 431 New Technology we Adopted has ensured our Continued Existence - - 52
Table 432 New Product has resulted to Increase in our Consumer Base - - - 52
Table 433 New Product Development Program has led to high sales turnover - - 53
Table 434 Model Summary for Hypothesis One - - - - 53
Table 435 Anova(b) - - - - - - 54
Table 436 Coeeficients(a) - - - - - - 54
Table 437 Model Summary for Hypothesis Two - - - - 55
Table 438 Anova(b) - - - - - - 55
Table 439 Coefficients(a) - - - - - - 56
Table 440 Model Summary for Hypothesis - - - - 56
Table 441 Anova(b) - - - - - - 57
Table 442 Coefficients(a) - - - - - - 57
