Leveraging Management Policies to Stimulate Creativity and Innovation in Multinational Organizations: Evidence from Nestle Nigeria PLC
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Date
2024-12-30
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Kardan Journal of Economics and Management Sciences (KJEMS)
Abstract
In today's volatile business landscape, employees' creativity and innovation are
critical in boosting organisational success and developing its capability to renew itself.
The failure rate in the innovation process across organisations is still high despite the
attention it receives from top management. This calls for management to sponsor
policies that give creativity and innovation the proper support and direction. This
research aims to leverage management policies to stimulate creativity and innovation
in multinational organisations. The specific objectives were to investigate the role of
access to technology and digital infrastructure on idea generation and examine the
effects of skills development initiatives on idea conversion rate. Nestle Nigeria Plc was
used as the case study. A 5-point Likert structured questionnaire was used to gather
data. A descriptive survey research design was utilised for the study. The study
population was 2300 Nestle Nigeria employees, and a sample size of 243 was
determined using the Raosoft (2004) formula. Multiple linear regression was used in
data analysis. The result showed a positive correlation of 0.369, with a p-value of 000,
which means access to technology and digital infrastructure significantly influences
innovation diffusion. The findings also revealed a positive correlation in R2 of 0.357,
p-value 000, between skills development initiatives and idea conversion rate. It was
concluded that leveraging management policies that are adaptable and sensitive to the
ever-changing business landscape indeed enhances creativity and innovation. In light
of this, it was recommended that establishing management rules that are adaptable
and sensitive to the ever-changing business landscape is advised for businesses. Also,
an innovative culture must be actively fostered by management policies that value
experimentation, candid communication, and idea sharing.