IMPLEMENTING BUSINESS PLAN AS AN ENTREPRENEURIAL PRACTICE FOR IMPROVING PUBLIC SECTOR PERFORMANCE IN LAGOS STATE

Abstract

The approach of the public sector to entrepreneurship lacks the drive with which private establishments pursue entrepreneurship. The public sector is characterized by weak performance reflected in inefficient services in spite of adoption of entrepreneurship in certain quarters. This study investigated the potential of business plan to improve performance in the public sector. A major objective of the study was to determine the extent to which business plan can improve the performance and productivity of public sector entrepreneurship. The study was restricted to three ministries in the Lagos State public service. Data was obtained by field administration of research questionnaire. The study adopted purposive and judgmental sampling techniques to incorporate respondents from the selected ministries. Analysis was done using Partial Least Square Structural Equation Modelling with the beta value of the relationships, t-statistic and adjusted r square. Results of the tested hypotheses revealed that is significant correlation between business plan and public sector productivity. As part of observations, corrupt practices and bureaucratic bottlenecks largely constrain entrepreneurial initiatives and performance objectives in the public sector. In conclusion, entrepreneurship cannot improve the performance of the public sector as presently structured, but application of business plan with commitment could improve public sector entrepreneurial performance. It was recommended that, most sector would perform better by adopting entrepreneurial practices including strategic review of environmental/market scenarios.