BUSINESS INNOVATION AND FIRMS COMPETITIVENESS IN NIGERIA

Balogun K. Olalekan

Abstract


This study examines the extent to which business innovation would influence firm’s competitiveness in Nigeria. The study covered South South geopolitical zone in Nigeria and 5 responds from 20 SMEs were randomly selected from Rivers, Akwa Ibom, Edo, Delta, Bayelsa and Cross River states respectively making the sample 100 respondents. Face and content validity were used in ascertaining the validity of the research instrument while Cronbach alpha was used to determine the reliability and a result of 0.7 and above was achieved for each of the constructs. Multiple regression was used in testing the null hypotheses and from our findings, both process innovation and administrative had significant effect on firms’ competitiveness. Furthermore, administrative innovation had a stronger effect. The study further recommends that entrepreneurs should ensure they venture into areas where they have passion rather than just going in for the profit. It was also recommended that government create a conducive environment for SMEs to thrive.

JEL: L20; M10; M20

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Keywords


business, innovation, competitiveness, SMEs, South South

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DOI: http://dx.doi.org/10.46827/ejmms.v6i1.955

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