Entrepreneurial Mindset and Sales Growth: Fast-Moving Consumer Goods (FMCG) Firms Experience

Despite sales growth signifying a company's ability to expand its market share and increase profitability, the Nigerian experience remains a concern due to declining sales growth recorded for fast- moving consumer goods (FMCG) firms. Thus, this paper examined whether the entrepreneurial mindset of managers/owners could affect the sales growth of FMCG firms. The study used the cross-sectional survey research design in retrieving primary data from 383 top, middle, and low-level management staff of selected food and beverages firms in Lagos State, Nigeria. The stratified random sampling technique was applied while the reliability and validity tests on the adapted questionnaire were conducted before implementing it for this paper. Results from the multiple regression analysis revealed that entrepreneurial mindset combined components had a positive and significant effect on sales growth [Adj.R2= 0.065, F(4, 379) = 7.671, p<0.05]. However, only emotional intelligence had an individual significant effect. Fostering and nurturing an entrepreneurial mindset within the organization by encouraging employees to think creatively, take calculated risks, and invest in market research to identify emerging trends to tailor products and strategies to meet evolving market demands for enhance sales growth is core for management strategic plans.