Factors Influencing the Adoption of Entrepreneurial Orientation in Nigeria’s Real Estate Firms

Abstract

The study revealed both the factors influencing the Entrepreneurial orientation (EO) and the extent of its adoption by the real estate firms in South West, Nigeria. The population of the study consists of two groups of estate developers in the study area; the Real Estate Development Companies (REDC) and the Estate Surveyors and Valuers (PESV) in the study area. The study adopted a weighted Mean Score with a 5 Likert scale to appraise the factors affecting the EO of real estate firms and the perception of the respondents on the extent of adoption of the EO dimensions by the real estate firms. The finding of the study revealed that the issue of employees in dealing with situations was scored as the highest factor influencing EO of real estate firms The study concluded that factors relating to the issue of employees in the real estate business must be taken into consideration to increase business performance; the study recommends that the utilization innovativeness and other EO dimensions could lead to improved performance of the real estate firms. Therefore, the government and policymakers need to come up with a programme that could be tailored to help the real estate firm and integrate EO strategic behaviour in their management practices. Keywords: Entrepreneurial orientation, real estate firms, EO dimensions, performance. DOI: 10.7176/JESD/13-12-03 Publication date: June 30 th 2022