Effect of technological innovation capabilities on the performance of selected manufacturing small and medium enterprises in Lagos State (original) (raw)
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There is no doubt that new or improved product or process of production continues to create firm's competitive advantage over others in the market. This study examined the impact of research and development (R&D) expenditure, product and process innovations on small and medium enterprises (SMEs) performance in the manufacturing industry in Nigeria using a survey of 1,000 SMEs with a response rate of 52.1% in year 2009. The results with least squares method showed that R&D spending by the firms as well as product and process innovation has significant impacts on the firm's performance with the probability value of 0.0529, 0.0624 and 0.0086 respectively at 10% level of significant. Also, training of workforce constitutes the major innovation activities in the Nigerian manufacturing SMEs as against in-house and outsourced R&D activities. This study suggests improvement in R&D spending and other technological activities which are expected to increase SMEs' profitability and thus generate more employment in the country.
Science, Technology and Innovation (STI) have played a significant role in driving manufacturing sector of the advanced economies. This study examines the impact of technological and non-technological innovations as well as size of firm on the profitability of SMEs. The study was conducted using questionnaire among the manufacturing SMEs in Nigeria with a total of 365 of them correctly filled and analyzed using qualitative and Ordinary Least Squares techniques. The result revealed that process innovation (p-value<0.041) and product innovation (p-value<0.078) which represent technological innovation, marketing innovation (p-value<0.089) which represents non-technological innovation and size of firms (p-value<0.005) were significant in driving the turnover of the SMEs, whereas organisational innovation was not significant at 10% level of significance. The study therefore suggests that the manufacturing SMEs should continuously engage in both technological and non-technolog...
Proceedings of the 5th Faculty of Technology International Conference on Technology and Innovations for Human and Resource Development, Obafemi Awolowo University, Ile-Ife, September 20th-25th, 121-133, 2015
Science, Technology and Innovation (STI) have played a significant role in driving manufacturing sector of the advanced economies. Small and Medium Enterprises (SMEs) in these developed economies constitute a large number of firms in the manufacturing sector. However, the contribution of manufacturing sector to GDP in Nigeria is relatively low which is not unconnected with the low productivity of the sector. This study examines the impact of technological and non-technological innovations as well as size of firm on the profitability of SME firms. The study was conducted using questionnaire among the manufacturing SMEs in Nigeria. A total of 365 of them correctly filled the questionnaire and analysis was done on these firms using qualitative and Ordinary Least Squares techniques. The result revealed that process innovation (pvalue<0.041) and product innovation (p-value<0.078) which represent technological innovation, marketing innovation (pvalue<0.089) which represents non-technological innovation and size of firms (p- value<0.005) were significant in driving the turnover of the SMEs, whereas organizational innovation was not significant at 10% level of significance. The study therefore suggests that the manufacturing SMEs should continuously engage in both technological and non-technological innovations to improve their productivity, which is believed will further increase their contribution to the Nigeria’s GDP.
EPRA International Journal of Economic and Business Review-Peer Reviewed Journal, 2023
The aim of the study is to determine the effect of innovation strategies on the performance of SMEs in Kaduna State. The study employs the survey research design and uses cross-sectional approach of data collection. Krejcie and Morgan (1970) table for determining sample size was used to obtain a sample size of three hundred and thirty-eight (338) owners of SMEs in Kaduna State. Proportional sampling technique was used in selecting the sample size based on the nature of the population. A total of 338 copies of the questionnaire were distributed for data collection, only 305 copies were retrieved for analysis. Data collected were subsequently analysed using multiple regression analysis. Findings from the study established that innovation strategies have a significant and positive effect on SMEs performance in Kaduna State. Process and product innovations exerted the highest effect while organisational innovation have the lowest effect on SMEs performance however, technological innovation shows negative and inconsequential effect on SMEs performance. It was therefore recommended among others that, SMEs owners should overhaul their technological innovation strategy, as the one currently in used are not yielding the desired result hence, they should deploy recent technological equipment that are easy to use, faster and effective in serving their customers. KEYWORDS: SMEs performance, process innovation, product innovation, organisational innovation.
IOSR Journals , 2019
The contemporary strategic management framework is unable to fully address the questions concerning the role of technological capability in a complex competitive and dynamic environment. Consequently, howmanufacturing SMEs firms can effectively develop technological capability (TC) to rapidly react to the dynamic and turbulence operating environment to achieve and maintain better competitive advantage becomes imperatives. The aims of this paper is to elaborate the above-mentioned subjects and put forward a framework that conceptually focused on the development of technological capability that support developing economies business firm’s innovativeness in the rapidly changing market environments to survive and sustain competitiveness.To explore the relationships exist between the constructs and put forward a conceptual framework, a systematic evaluation of the available existing literature from both theoretical and empirical studies has been made.Consequently, the study establishedtheoretically how technological capability help firms develop a novel ideas that promote and enhance innovativeness to efficiently respond to dynamic environment. The study also demonstrated the need forempirical examination of the role TC on SMEs innovativeness to improve performance.
INNOVATION AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN NIGERIA
The objective of this study was to establish the relationship between innovation and performance of SMEs in Nigeria. On average, the findings of the study revealed that majority of the respondents agreed with the statements on innovativeness as shown by a mean of 3.72. The responses given by the respondents were varied as shown by a standard deviation of 1.28. The study recommends the SMES in Nigeria should invest heavily in business innovation, research and development activities so as to enhance innovativeness. The study also recommends that the SMEs to view experimentation and introduction of new business products or services as a way to increasing value addition of their businesses. Moreover, the study recommends the SMEs to heavily invest in new business technology in order to improve production. There is also need for the SMEs to partner with research institutions in order to enhance their business innovation.
Zenodo (CERN European Organization for Nuclear Research), 2023
Small and Medium-scale Enterprises (SMES) are firms that act as catalysts and have been seen to support a country's growth and development. Despite concerted efforts from different stakeholders to improve the output of SMES, they still do not meet the standards that are required of them. The population of this study consist of SMES management staff of the selected SMES in Lagos State. The population comprised 8,396 owners/managers of SMES. The sample size was 471 and a stratified random sampling technique was employed. An adapted and validated questionnaire was administered to the respondents and the data gathered was analysed using multiple linear regression analysis. Innovation variables were found to have a significant combined effect on the competitiveness of selected SMES in Lagos State, Nigeria (R = 0.379, AdjR 2 = 0.136, p < 0.05). Product innovation with (β = 0.222; p = 0.033 < 0.05), process innovation with (β = 0.478; p = 0.023 < 0.05) and market innovation with (β = 1.028; p = 0.015 < 0.05). The study concludes that innovation has a significant effect on the competitiveness of SMES in Lagos State Nigeria. The study recommends that more efforts on innovation should be by SMES to sustain competitiveness.
The International Journal of Business & Management, 2020
Technological Innovativeness and Business Financial Performance of Medium Sized Enterprises in Southwestern Nigeria 1. Introduction In today's constantly changing and complex global economy, creation of new ventures and entrepreneurship development has gained so much attention from policy makers and researchers. Wiklund and Shepherd (2003) posited that entrepreneurship has become even more important to achieve and sustain competitive advantage in the enterprise space (Covin and Miller 2014). Because of globalization, SMEs (SMEs) are facing tremendous pressure from global competition. With customers around the world becoming more and more sophisticated, it is becoming increasingly difficult for SMEs to maintain and improve their business performance on time if they are not able to fully manage this pressure. In order to address the issues facing managers and business owners, both small and medium enterprises, especially in growing economies of the world, should take serious action to identify threats and opportunities, so that the social environment can ensure that the future is moving forward (Javalgi and Todd, 2011). In a more emerging economy, SMEs constitute the main driver of not only economic development, but of employment creation as well as the creation of social assistance (Van der Westhuizen and Garnett 2014). However, medium-sized enterprises that value their commitment to the industry have been found to show strategic flexibility, defined as the ability to seek new opportunities, respond to threats in a competitive environment and add value when connected, and a culture of organizational accountability (Zahra, Hayton, Neubaum, Dibrell & Craig, 2008). This leads to obvious results and better financial results (Denison, Lief & Ward, 2004). At a strategic level, the success of many managerial innovation processes also depends on competitive effort, which may include in-depth knowledge of technological development and adequate analysis of network benefits. To prevent obesity and death, many mid-size companies are economically compelled to adopt new technologies (Alberto, 2007). Therefore, this study examined how technological innovativeness among medium-sized enterprises affectbusiness financial performance in southwestern Nigeria. 2. Objectives of the Study The specific objectives of the study are to: Assess the socio-demographic characteristics of the respondents, Assess the extent of technological innovativeness of medium-sized enterprises, Evaluate the financial performance of medium-sized enterprises, Determine the effect of technological innovativeness on business performance.
Innovation in Nigerian Small and Medium Enterprises
Journal of Electronic Commerce in Organizations, 2000
This paper seeks to explore the types of innovation that are predominant in SMEs in developing countries and to investigate the impact of these innovations on different dimensions of firm performance based on an industry-wide innovation survey carried out in Nigeria in 2007. Although innovation is important for superior firm performance, our result found that the type of innovation that SMEs pursue is not a critical consideration in their performance. While there was no difference found in the focus of SMEs on either of product or process innovations, evidence showed that SMEs would focus more on incremental product and process innovations. Incremental innovation was found to be very important for Nigerian SMEs and a significant predictor of product quality and not of revenue. We conclude that SMEs chooses to pursue such innovations that most fit their strategies and available resources. Such level of innovation affords Nigerian SMEs to more extensively exploit the domestic market but cannot support extensive new product development required to enter export markets.