Organizational Factors on Entrepreneurial Development in Selected Micro-Finance Banks in Oyo State, Nigeria
Organizational Factors on Entrepreneurial Development in Selected Micro-Finance Banks in Oyo State, Nigeria

Summary/Abstract: The study investigates the influence of organizational factors on entrepreneurial development in selected micro-finance banks in Oyo State, Nigeria. Leadership style, job security, communication/information, and staff training were used as a dimension of organizational factors, which was used to determine the entrepreneurial development among the micro-finance bank in Oyo State. The study employed a descriptive survey research design. The target population of this study comprises all employees in the microfinance banks in Oyo State. A random sampling technique was used to select 925 for the study. The questionnaire was used as an instrument for data collection. Statistical Package for Social Sciences (SPSS) version 21 was used to analyze the data collected. Regression analyses at a 5% level of significance were used in the analyses. The study's findings show that organizational factors reveal a significant joint contribution of the independent variables (information/ communication system, leadership style, job security and staff training) to predicting entrepreneurial development. Also, information/communication system, leadership style, job security and staff training are significant predictors of Entrepreneurial development. The findings show that information and communication system (β = .626, t = 6.444, P<0.001). Followed leadership style (β = .288, t = 2.11, P<0.001), Job security (β = .144, t = 0.621, P<0.001). Lastly, staff training is had a significant predictor of entrepreneurial development in selected Micro-finance banks in Oyo state, Nigeria. The study concluded that organizational factors enhance the entrepreneurial development in selected Micro-finance banks in Oyo state, Nigeria. Micro-finance management should use continuous transformational leadership style practices to sustain high employee commitment and organizational effectiveness. Also, micro-finance should apply both transactional and laissez-faire leadership styles from time to time depending on the situation of things at the workplace as there is no particular leadership style that is one-size- fits-all but depends on the situation at hand.

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