Actuarial Science and Insurance -Scholarly Publications

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The Impact of Market Orientation as a Capacity Building Strategy on Firms Performance: A Study of Selected Fast Food Restaurants in Lagos State Metropolis
(2016) Mojekwu, J.N; Ganiyu, A.R; Ighomereho, O.S
This paper examines market orientation practices of foreign fast food restaurants vis-à-vis Nigerian restaurants in Lagos State and the impact on their performance. The study employed survey research design using quantitative approach. The collected data were analyzed using mean, paired sample test and regression analysis. It was found that fast food restaurants in Nigeria practice all dimensions of market orientation and when foreign restaurants were compared with those of Nigerians, it was discovered that foreign restaurants practice more of inter-departmental dynamics while local restaurants are better off in organizational system, environmental factors and management factors. It was also found that only environmental factors in market orientation and inter-departmental dynamics have significant impact on their performance. On the basis of the findings of the study, the researchers conclude that market orientation is important to enhance business performance. On this note, fast food restaurants operators must adopt market orientation strategies to enhance their growth and competitiveness.