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How entrepreneurs achieve purpose beyond profit: the case of women entrepreneurs in Nigeria

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  • Barkema, Harry G.
  • Bindl, Uta
  • Tanveer, Lamees

Abstract

This paper investigates how entrepreneurs achieve a sense of purpose or, more precisely, eudaimonic well-being—the experience of a good and meaningful life. We explore this in the context of women entrepreneurs participating in a business training program in Nigeria. Specifically, we conduct mixed-methods research, starting with an inductive qualitative Study 1 of what eudaimonic well-being means for these entrepreneurs. We find that, in the context of their enterprises, eudaimonic well-being implies opportunities to experience self-cultivation, mastery, social recognition, and to benefit others in the community. Unexpectedly, the women in our study also experience eudaimonic well-being related to their households. These initial insights inform theory in Study 2 on how enterprise-related learning (i.e., acquiring and assimilating knowledge regarding the enterprise) and household-related learning (acquiring and assimilating knowledge regarding the household) influence their eudaimonic well-being, itself driven by strong social ties with other women entrepreneurs in the training program. Hypotheses testing through a quantitative study of 484 women entrepreneurs in Nigeria over time corroborates the theory. Our research provides a contextualized perspective of “purpose” in entrepreneurship and how to achieve it: by developing strong social ties, enabling enterprise- and household-related learning, women entrepreneurs in our context initiate greater eudaimonic well-being, beyond improving firm performance.

Suggested Citation

  • Barkema, Harry G. & Bindl, Uta & Tanveer, Lamees, 2024. "How entrepreneurs achieve purpose beyond profit: the case of women entrepreneurs in Nigeria," LSE Research Online Documents on Economics 119716, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:119716
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    File URL: http://eprints.lse.ac.uk/119716/
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    References listed on IDEAS

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    1. Pidduck, Robert J. & Hechavarria, Diana & Patel, Ajay, 2024. "Cultural tightness emancipation and venture profitability: An international experience lens," Journal of Business Research, Elsevier, vol. 172(C).

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    More about this item

    Keywords

    social psychology; organizational learning; structural modelling;
    All these keywords.

    JEL classification:

    • J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General

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