Achieving Business Productivity through Social Entrepreneurship of Cooperative Societies in Nigeria
1Dada, O. A., 2Egwakhe, J. A., 3Onu C. A.
1,2,3School of Management Sciences, Department of Business Administration and Marketing, Babcock University, Ilishan-Remo, Ogun state, Nigeria.
https://doi.org/10.47191/jefms/v7-i4-21ABSTRACT:
Cooperatives around the world face pressing challenges of decreased profitability and difficulty in maintaining a competitive position in the market that hamper their societal impact and performance. This absence of targeted resources further compounds the challenges faced by cooperatives in the state, impeding their ability to invest in efficiency-enhancing technologies and infrastructure to address these pressing issues. Therefore, this study examined whether social entrepreneurship dimensions (social value creation, social learning, and social innovations) have effect on business profitability of cooperative societies. The cross-sectional survey research design was adopted using the population which comprised of 1,590 executives of co-operative societies in Ogun State, Nigeria. A sample size of 403 was determined using Raosoft calculator. A structured and validated questionnaire was utilized for data collection. Findings from multiple regression analysis revealed that social entrepreneurship dimensions had a positive and significant effect on business profitability of co-operative societies in Ogun State, business profitability (Adj.R2= 0.731, F(3, 357) = 327.410, p0.05). Cooperative societies in Nigeria need to embrace more innovative ideas This will particularly convince owners and customers to bring their money with guarantee returns on investment and interest which bring significant profit.
KEYWORDS:
Business Profitability, Social entrepreneurship, Social innovation, Social learning, Social value creation
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