Entrepreneurial Orientation and Entrepreneurial Venture Creation: A Self-reliance Model for Graduates

Abstract

The state of unemployment in developing economies like Nigeria has necessitated that some graduates become self-reliant upon graduation. Some reasons encouraging this behaviour include the need to overcome unemployment crisis by developing modalities that will address it. This study outlined the relevance of engaging in entrepreneurial venture creation (ECR) predicted by entrepreneurial orientation components (EOC) as one of the panaceas. The study analyzed the effect of EOC specified by innovativeness (INNOV), risk-taking (RISK), and proactiveness (PROAC) on ECR among selected Nigerian graduates that have opted to become self-reliant. Using a cross-sectional approach with 291 survey responses, the study employed the type-II reflective/formative and disjointed two-stages approach to validate the research model. Evidence from the analysis in partial least square structural equation modeling (PLS-SEM) showed that EOC strongly predicts ECR and their linear relationship was found to be positively and significantly related. This means that individuals in the quest of implementing ECR should maximize behaviours by blending the EOC traits with ECR actions. The study has implications for managers of incubation hubs to direct apprenticeship training towards opportunity recognition. Doing this will influence entrepreneurs to channel actions using competitive strategies that will make them to excel in the dynamic business environment, and this will also commemorate the agenda of the United Nations (UN) for achieving a sustained entrepreneurial ecosystem that supports industrialization and innovation for economic growth. The study contributed by providing practical, theoretical, and methodological rigor in the ECR literature. Limitations were identified and suggestions for future research were proposed.