Analysis of Market Innovation and Organisational Performance in Nigerian Food and Beverage Manufacturing Sector
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Date
2019-03
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Abstract
The study examined the relationship between market innovation and organizational performance. Survey
research design was used in the study. Data for this research was obtained from primary sources with
the aid of a structured questionnaire. Krejche and Morgan formular was used to estimate the sample size.
355 copies of questionnaires were administered to employees of the selected companies out of which
only 309 copies were found to be useful for data analysis. The data were analyzed using descriptive
statistics and inferential statistics of partial least square structural equation model (PLS-SEM). The
hypothesis was tested at 0.05 alpha levels. Findings revealed that market innovation significantly impacts
market performance (β =.317, t= 4.720, p=.000). The next vital predictor in order of importance is market
innovation and employee performance (β = .313, t= 4.286, p= .000) and finally, market innovation and
financial performance (β = .220, t= 4.061, p= .000). The study concludes market innovation is a key
determinant of organizational performance. The study recommended that in order to sustain a competitive
edge in today’s market; organisations have a twofold mission of continuously generating extra value for
their customers whilst thriving to cut costs and increase their productivity. To make this mission possible,
the results of this study suggest that organisations give additional importance to market innovations for
attaining high organisational performance