Entrepreneurial Alertness and Performance of Start-Up Firms in Nigerian Publishing Industry

Abstract

There have been scholarly arguments to justify why some entrepreneurs are able to discover and exploit new market opportunities that make them different from others. This study explored the effect of entrepreneurial alertness on the performance of start-up firms in Nigerian publishing industry. The study measured the effects of three entrepreneurial alertness constructs; scanning and search, association and connection, evaluation and judgement on firm performance. A cross-sectional survey was adopted for the study and questionnaire was utilized for the collection of data from 125 employees of four start-ups publishing firms in Nigeria; Kachifo Limited, Cassava Republic Press, Masobe Books and Narrative Landscape Press that constituted the study population. The data collected were analysed using descriptive statistics (means and standard deviations) and inferential statistics (correlation and multiple regression) with the aid of the Statistical Package for Social Sciences (SPSS 23 version) software. The study established a positive correlation between entrepreneurial alertness dimensions and firm performance. Results of tested hypotheses indicated that alertness scanning and search and alertness evaluation and judgement both have positive and significant effect on firm performance. The study however found that there is no significant effect of association and connection on firm performance. The study suggested that start-up firms should be able to discover feasible opportunities by improving their scanning behaviour and the capability to constantly appraise the environment to adequately utilize available information.