A Perception Study Of Owner-Manager Characteristics, Entrepreneurial Orientation And Family Business Growth In Greater Accra Region, Ghana

Abstract

Operating family businesses owner-managers play a monumental role in emerging and developed countries due to their leadership characteristics as well as their entrepreneurial orientation. Despite its importance, current conceptualizations of owner manager characteristics and entrepreneurial orientation do not sufficiently account for the relationship between owner-manager qualities, family business growth and entrepreneurial orientation. Using the Upper Echelons theory, Resource base' view, Full range leadership model, and Strategic adaptation theory, the goal of this study was to examine the owner manager characteristics and entrepreneurial orientation of family businesses in the private educational enterprise in Ghana's Greater Accra Region. Data was collected from 90 and 30 owner managers, respevtively, by questionnaire administration and interviews. Data were analysed with thematic analysis and structural equation modelling. Innovativeness, risk taking and proactiveness which are among three of the five orientation traits were found to influence business growth positively. Also, leadership style was found to be important for family business growth. Age, educational level, years of experience, apart from leadership style of the owner-managers, were factors that did not inform the growth of family businesses. Additionally, owner-manager's level of education and age did not promote entrepreneurial orientation. The years of experience of the owner manager, on the other hand, had a beneficial impact on entrepreneurial orientation. Owner managers and family businesses operating within the scope of the study were advised to adopt risk taking, innovativeness and proactiveness in order to maximize growth, according to the study. Finally, owner-managers operating family business should incorporate leadership issues into their entrepreneurial activities especially transfonnationalleadership style.