ENTREPRENEURIAL PROACTIVENESS AND BUSINESS SUCCESS OF INSURANCE COMPANIES IN RIVERS STATE.

Abstract

The research focused on entrepreneurial proactiveness and business success of insurance firms in Rivers State. The main objective was to determine the relationship between dimensions of on entrepreneurial proactiveness (opportunity recognition, goal orientation & market leadership) and business success Three research questions and three hypotheses guided the study. The population of the study was 26 insurance firms. The sample size of 85 respondents was obtained using census and purposive sampling technique. The instrument used for data collection was a structured questionnaire. The reliability of the research instrument was obtained using Test-retest method with Cronbach alpha at a 0.70 threshold which implies that the items were reliable. The data retrieved was 80 and used for analysis using Spearman’s Rank Order Correlation Coefficient via Statistical Package for the Social Sciences (SPSS) version 22 for the test of hypotheses at .05 level of significance. Based on the results, dimensions of entrepreneurial proactiveness (opportunity recognition, goal orientation & market leadership) have a positive correlation with business success. Therefore, the study concluded that entrepreneurial proactiveness (opportunity recognition, goal orientation & market leadership) influence business success. Hence, the study recommended that entrepreneurs should continuously develop their skills in opportunity recognition through market research, environmental scanning, and business success training to identify and exploit emerging business prospects.