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
1.0 Background to the Study - - - - - .1
1.1 Statement of Research Problems - - - - - 3
1.2 Objectives of the Study - - - - - 5
1.3 Research Questions - - - - - 5
1.4 Research Hypotheses - - - - - ..5
1.5 Significance of the Study - - - - - ..6
1.6 Methodology - - - - - - .7
1.7 Scope of Study - - - - - - 7
1.8 Limitation of the Study - - - - - 8
1.9 Outline of Chapters - - - - - 8
1.10 Operationalization of Variables - - - - - 9
1.11 Definition of Terms - - - - - .10
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction - - - - - - .12
2.1 Conceptual Framework - - - - - .12
2.1.1 Family Business - - - - - 12
2.1.2 Importance of Family Business - - - - 16
2.1.3 Characteristics of Family Business - - - - .17
2.1.4 Challenges of Family Business - - - - .19
2.1.5 Creativity - - - - - - ..21
2.1.6 Enhancing Creativity in Organization - - - - .22
2.1.7 Innovation - - - - - - 23
2.1.8 Classification of Innovation - - - - ..24
2.1.9 Managing Creativity and Innovation - - - - 25
2.1.10 The Need for Creativity and Innovation in Family Business - - - 27
2.2 Theoretical Framework - - - - - .27
2.2.1 The Disruptive Technology Theories - - - - - - - ..27
2.3 Empirical Framework - - - - - - - - 30
2.3.1 Creativity, Innovation and Performance - - - - ..30
2.3.2 Product Quality and Business Performance - - - ..32
2.3.3 Technology and Business Performance - - - ..32
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Introduction - - - - - - .34
3.1 Research Methods - - - - - - - - ..34
3.2 Research Design - - - - - - 35
3.3 Population of the Study - - - - - .36
3.4 Sample Size Determination - - - - - 36
3.5 Sampling Technique and Procedures - - - - .37
3.6 Source of Data - - - - - ..37
3.7 Research Instruments - - - - - .38
3.8 Validity of Research Instrument - - - - ..38
3.9 Reliability of Research Instrument - - - - 39
3.10 Method of Data Analysis - - - - - ..40
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION
4.0 Introduction - - - - - - .41
4.1 Data Presentation - - - - - - - - - 41
4.
