1.1 Background of the Study
Little is reported about multiple orientations studies and how strategic orientations are related between them and its relationship with performance (Lee, 2011; Hakala, 2011). For instance, Hakala (2011) reports that he did not find studies relating entrepreneurial and technology orientation or entrepreneurial, technology and learning orientation and their relationship with the firm performance, declaring that a window is open for future research, not only through empirical studies, but also through the use of qualitative research. Many authors have researched the relationship between market orientation and performance with the purpose of contradicting or fortifying the paradigm in marketing research about the superior contribution of market orientation to performance (Grinstein, 2015). However, empirical studies have shown mixed results about the linkage between market orientation and performance, several studies have tried to assess how alternative strategic orientations are related to market orientation and how these relationships have an impact on the firm performance (Noble et al., 2002; Grinstein, 2015). These studies suggest that research should be shifted from the binomial relationship of market orientation-performance toward the multiple orientations performance form. However, few studies have used more than one strategic orientation (Grinstein, 2015; Hakala, 2011), so this field remains open and researchers are encouraged to deepen in this research field.
1.2 Statement of Problem
1.3 Objectives of the Study
The major aim of the study is to examine impact of strategic orientations on family firm’s performance. Other specific objectives of the study include;
- To examine the relationship between market orientation and the performance of family firms in Nigeria.
- To examine the relationships between customers orientation and family firm performance in Nigeria
- To examine the effect of product innovation orientation on family firm performance in Nigeria
- To examine the relationship between technological orientation and family firm performance in Nigeria
1.4 RESEARCH QUESTIONS
- What is the relationship between market orientation and the performance of family firms in Nigeria?
- What is the relationship between customer’s orientation and family firm performance in Nigeria?
- What is the effect of product innovation orientation on family firm performance in Nigeria?
- What is the relationship between technological orientation and family firm performance in Nigeria?
1.5 RESEARCH HYPOTHESES
1. H0: There is no significant relationship between market orientation and the performance of family firms in Nigeria.
2. H0: Product innovation does not affect the revenue turnover of family firms in Nigeria
3. H0: There is no significant relationship between customer’s orientation and family firm performance in Nigeria
4. H0: There is no significant relationship between technological orientation and return on investment of family firms.
- Significance of the Study
- Scope of the Study
This research is limited to the impact of strategic orientation of family businesses on firm performance in Nigeria. Therefore, the findings and conclusions drawn from the research can only be cautiously and restrictively applied to a wider setting. The choice of Nigeria as the research site is basically due to the research gap identified in the existing literature on the country. Lagos State, the commercial centre of Nigeria is chosen as the research location because it is a home for families from almost all the tribes and ethnic groups in Nigeria. The firms selected are heterogeneous family firms which cover businesses that are in their first, second and third generation; no restriction is also placed on the industry type. The Small and Medium Scale Enterprises of Nigeria (SMEDAN) provided some assistance in identifying family businesses within their recently concluded 2010 nationwide survey.
1.8 Limitation of the Study
Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview)
Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
- Definition OF Terms
Family: Family is defined as a specific group of people that may be made up of partners, children, parents, aunts, uncles, cousins and grandparents or one or more other persons living in the same household who are related to the householder by birth, marriage, or adoption.
Family-owned business (FOB): Any business in which two or more family members are involved and the majority of ownership or control lies within a family. Family-owned businesses may be the oldest form of business organization.
Firm Performance: This implies the organizational performance, including manufacturing of products and services, functioning of different units of the firm, performance of its employees and outcomes of their work in total.
Strategic orientation: Is the ability to link the long-range vision of Indigenous self-determination to daily work, ranging from a simple understanding to a sophisticated awareness of the full impact of thinking and actions.
INSTRUCTIONS AFTER PAYMENT
- 1.Your Full name
- 2. Your Active Email Address
- 3. Your Phone Number
- 4. Amount Paid
- 5. Project Topic
- 6. Location you made payment from