Comparative analysis of managerial and entrepreneurial firms of Nigeria using entrepreneurship and knowledge capital

Abstract

The shift from the managed to entrepreneurial economy in the developed western economies featured the importance of small entrepreneurial firms in economic growth. The entrepreneurial economy featured the relevance of knowledge capital and entrepreneurship capital at both the micro and macro levels of the economy as the most innovative countries and industries are the ones with greatest investment in research and development. It becomes imperative to observe these variables at the firm level in a developing country like Nigeria that is searching for solution for economic diversification. Developing countries features a mix managed entrepreneurial model showing that both large managerial and small entrepreneurial firms are relevant to the economy. Questionnaire and unstructured interview were used to gather data from the two types of firms. The data were analysed using Excel and SPSS software and the hypotheses tested with T-test. The result reveals that the small entrepreneurial firms have fared better than the large managerial firms and so are the hope of country's potential for economic diversification and economic democracy. Triple helix approach is bound to increase the levels of knowledge and entrepreneurship capital in these firms.