Measure of venture performance of hotel industry in south- south region of Nigeria

Abstract

This research work sets out to interogate the relationship between entrepreneurial competencies and venture performance of hotel establishments in the South-South of Nigeria while also examining the effect of the dimensions of entrepreneurial competencies within the hotel industry in same region. These competences include opportunity identification, innovativeness, and proactiveness on the measures of venture performance. The study used Organizational culture as moderating variable, while adopting a correlational research design. The population of the study comprised of registered hotels in the South-South geographical zone, which is a total number 1,063. The sample size for the study is 290 hotels and the instrument for data collection was a questionnaire which reliability was determined with Cronbach Alpha test, generating a score of .979. The univariate analysis was undertaken using the descriptive statistical tools of frequencies, percentages, mean, standard deviation, charts and tables among others. The bivariate and multivariate analyses employed the Spearman Rank Order Correctional Coefficient. The study revealed strong significant relationships existing between opportunity identification and measures of venture performance, innovation and measures of venture performance, and proactiveness and measures of venture performance. Organizational culture significantly moderated the relationship between entrepreneurial competencies and venture performance. The study concluds that entrepreneurial competencies are strongly related to venture performance and recommends that management of hotels should acquire entrepreneurial competencies and skills in order to ensure high performance of the hotels they manage.