Entrepreneurial Innovation and Profitability of Selected Small and Medium Enterprises in Lagos State, Nigeria (Published)
Small and Medium Enterprises (SMEs) in Nigeria encounter challenges including a decline in competitive advantage, diminished profitability, decreased productivity, and a contraction in market share, all of which contribute to their underperformance, potentially stemming from an absence of innovation. A prevailing aversion to innovation, coupled with limited understanding of key stakeholders shaping innovative processes, collectively undermine SME performance. Consequently, SMEs experience outcomes such as lower-than-projected profitability, erosion of competitive edge, reduced market presence, diminished productivity, and difficulties in cost management. Hence, the study examined the effect of entrepreneurial innovation dimensions on the profitability of selected SMEs in Lagos State, Nigeria. The study adopted cross- sectional survey research design. The population comprised of 42,067 owners/managers of SMEs in Lagos State, Nigeria. A sample size of 495 was determined using Cochran’s formula. Simple random sampling technique was employed to select the respondents. A structured and validated questionnaire was adopted for data collection. The reliability test yielded Cronbach’s alpha for the constructs ranging from 0.716 to 0.879. The response rate was 82.3%. The hypothesis was tested using multiple linear regression statistics at 5% level of significance. The findings revealed that entrepreneurial innovation had significant effects on competitive advantage (Adj.R2= 0.64, F (4, 398) = 182.06, p<0.05). The study concluded that entrepreneurial innovation dimensions had significant effect on profitability of selected SMEs in Lagos State, Nigeria. It was recommended that Small and medium-sized enterprises should cultivate a culture of innovation within their organizations. This involves fostering an environment where creativity and new ideas are valued, and employees are empowered to propose and implement innovative solutions to business challenges.
Keywords: Entrepreneurial Innovation, Process Innovation, Product Innovation, Profitability, management innovation, marketing innovation
Fostering Knowledge Management with Organizations’ Operational and Financial Performance – The Mediating Role of Innovation (Published)
Performance is the bottom line for each and every organization. The firms are in immense race and competition to enhance their operational and financial performance. Performances portray a good and consolidated image in market. This study is aimed to identify the relationship between knowledge management dimensions named as knowledge creation, knowledge transfer and knowledge embeddedness with organizational and financial performance. Furthermore this study is also testing the mediating role of process and administrative innovation in relationship between knowledge management and performance. Simple random sampling has been used in this study and data collect from 341 employees of servicing, manufacturing and trading organization. The findings of this study have revealed that almost all dimensions of knowledge management have a significant positive impact on financial and operational performance. Furthermore, process and administrative innovation has proved as significant mediators in relationship between knowledge management and operational and financial performance. The study is adding the value in literature by testing a unique empirical relation through taking the dimensions of organizational performance.
Keywords: Administrative Innovation, Knowledge Creation, Knowledge Embeddedness, Knowledge Management, Knowledge transfer, Operational and Financial Performance, Process Innovation