Product Innovation and Corporate Performance of Manufacturing Firms in Nigeria
Keywords:
product innovation, corporate performance, increase profitability and increase in marketAbstract
This study examined the impact of innovation on the corporate performance of bottled water producing firms in Nigeria. The objective is to know whether innovation among manufacturing firms can impact on corporate performance. Twenty (20) manufacturing firms with sixty (60) sample representative were selected from the population. Seven (2) hypotheses were formulated to explore the relationship between the dimensions of the study. The corporate performance was proxy by increased profitability and increase in through questionnaire were administered to the selected firms. Simple percentages and Spearman rank correlation coefficient with the aid of Statistical Package For Social Sciences (SPSS) were used as data analyses techniques. The study found out that there is a positive significant relationship between product innovation and corporate performance. The study found that the dimensions of product innovation used in the study have a positive and significant relationship with the corporate performance of the manufacturing firms in Nigeria. From the correlation coefficient, the result justifies that innovations have a significant relationship with corporate performance. It, therefore, recommends that innovation should be made organizational philosophy and integrated to all aspect of the corporate operation to enhance performance.
How to cite this article:
Nwala KI. Product Innovation and Corporate
Performance of Manufacturing Firms in Nigeria.
J Adv Res Prod Ind Engg 2020; 7(3&4): 21-29.
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