Economic Factors of Corporate Sustainability and Performance of Foam Manufacturing Firms (Published)
Corporate sustainability is essential for balancing economic performance with environmental responsibility. This study investigates the relationship between economic factors of corporate sustainability—specifically recycling and product innovation—and the organizational performance of foam manufacturing firms in Anambra State, Nigeria. Employing a descriptive survey design, 600 copies of questionnaire were administered, while 560 were found valid and useful for data analysis. Statistical analysis Spearman’s correlation and paired sample t-tests were used it revealed significant relationships between the variables. Recycling demonstrated a significant positive relationship with profitability, with a Spearman correlation coefficient of 0.020** and a paired t-test value of 2.326 and p = 0.001. Similarly, product innovation was found to have a strong positive relationship with profitability, reflected by a correlation coefficient of -0.048** and a paired t-test value of 9.035 and p = 0.003). The findings underscore the importance of sustainability practices in enhancing profitability through cost reduction, operational efficiency, and market differentiation. Guided by the Natural Resource-Based View (NRBV) theory, the study concludes that sustainability strategies can transform organizational performance. Recommendations include investing in advanced recycling technologies, fostering eco-friendly product innovation, and implementing supportive government policies to ensure sustainable economic growth and operational efficiency in the foam manufacturing sector of Anambra State.
Keywords: Performance, Product Innovation, Profitability, Recycling, corporate sustainability
PRODUCT INNOVATION STRATEGIES AMONG BANKS IN ELDORET MUNICIPALITY, KENYA (Published)
The study aimed at assessing the product innovation strategies adopted by banking industry in Eldoret, Kenya. The study was guided by the following two objectives; to assess product innovation strategies employed by banks in Eldoret, to establish the relationship between product innovation and growth of banks and to find out the challenges of product innovation strategies implementation and improvement. The study employed a survey research design of 25 banks within Eldoret municipality and targeted the branch managers and the employees in the banks who are 578. A total sample size of 191 respondents was therefore employed in the study. The study employed purposive sampling in selecting the branch managers and stratified sampling in selecting the employees. A questionnaire was used as the main data collection instrument. Descriptive and inferential statistics were both used to analyse and interpret the data. The study found out that market surveys and customers’ feedbacks had effect on product innovation strategies. The study concluded that to a large extent banks innovate new products leading to new customers (new markets). The study recommended that apart from continuous improvement of existing products, it is the responsibility of the banks to come up with new products and services to suit their target market rather than being an adopter of innovation
Keywords: Bank, Eldoret Municipality, Product Innovation, Strategy