THE EFFECT OF ENTREPRENEURIAL SKILLS ON PRODUCT PORTFOLIO DEVELOPMENT

THE EFFECT OF ENTREPRENEURIAL SKILLS ON PRODUCT PORTFOLIO DEVELOPMENT

ABSTRACT

This research work examined the effect of entrepreneurial skills on product portfolio development of medium scale enterprise in Lagos. It is important for business owners (be it a small medium scale enterprises operator or large scale enterprise), who aspire for optimum success in their endeavour to take cognisance of the essential entrepreneurial skills which will aid the effective achievement of their organization goal and objective. The research design adopted for the study is survey research design. The main instrument used was self administered questionnaires. The data obtained from the questionnaires were analysed using mean, median mode and standard deviation. Two hypotheses were tested using Z-test at 0.05% level of   significance. The analysis done reveal that there is significant relationship between entrepreneurship skills and product portfolio development. Also, co-operation between small medium scale entrepreneurs and research institutes, for exploitation of research findings of these institutes should be encouraged in order to achieve development in general was recommended.

CHAPTER ONE

INTRODUCTION

1.1    Background of the Study

The success or failure, of any organization product offering(s), be it goods or services, depends immensely on the strategies and technologies used in developing, maintaining and sustaining such products or services in the target market. The extent to which these responsibilities/duties/tasks are successfully carried out is as a result of the unusual skills, experience and ability possessed by the owner (entrepreneur), of the said business organization; to effectively co-ordinate the human and material resources in that organization, in order to achieve the stated organisation objectives either to make profit or community service rendering. The said responsibility of the ‘entrepreneur’ can be emphasized in the definition given by Edward P. Lazear. According to