An Examination of the Impact of Selected Personality Traits on the Innovative Behaviour of Entrepreneurs in Nigeria

Abstract

Entrepreneurs are visionary, goal-driven, innovative individuals who are oriented to developing new businesses and making it a profitable one. These abilities are affected and boosted by some certain factors or traits possessed by them. This study examined the impact of openness and extraversion traits on the innovative behavior of entrepreneurs in a selected area of Ibadan, Oyo State, Nigeria. Subjects for this study were 120 solo operators (entrepreneurs) in an area of Ibadan, Oyo State, Nigeria consisting of 53 males and 67 females, aged between 18 and 51. Two hypotheses were tested and the findings of the study revealed a significant difference between openness and innovative behavior; also the result of the study showed that entrepreneurs who were high on extraversion exhibited more innovative behavior than those who were low on it. Based on the findings of this study, it was recommended that entrepreneurs should observe and build on dominant traits inherent in them. To be a successful entrepreneur, it is pertinent to understand one’s personality.

Key words: Personality traits; Innovative behavior; Entrepreneurs; Openness; Extraversion