Entrepreneurial Orientation Dimensions and Business Performance of Women Entrepreneurs in Three Ghanaian Cities

ABSTRACT

Ghanaian women entrepreneurs operating small businesses play a significant role in fostering economic growth and development due to their possession of Entrepreneurial Orientation Dimensions (EODs). Notwithstanding the importance of this area, current conceptualizations of EODs do not adequately consider the association between EODs and business performance of women entrepreneurs. The objective of this research was to .examine the EODs and business performance of women entrepreneurs in three Ghanaian cities (Accra, Kumasi and Takoradi) using Lumpkin and Dess (1996) five EODs model.Questionnaires, interviews and observation were used to collect data from 286 women entrepreneurs from these three cities. Data were analysed with thematic analysis and chi-square test. Four of the five EODs were perceived to be important for business performance. Additionally, ethical orientation was also found to be important for business performance of women entrepreneurs. Marital status, number of children, age and size of business as well as religious beliefs were factors that inform EODs of women entrepreneurs. The study recommended that the realities of women entrepreneurs should be incorporated at the formulation stage of all entrepreneurial related policies. To promote women entrepreneurship, entrepreneurial education should include visits of student to offices of successful women entrepreneurs. Finally, women entrepreneurs’ owning and operating small businesses should incorporate ethical issues into their entrepreneurial activities.