MANAGEMENT INNOVATION AND SUSTENANCE OF SMALL BUSINESS UNIT IN NIGERIA A STUDY OF TAILORING / FASHION DESIGN IN AGUDA, SURULERE, LAGOS.

  • : Ms Word, Ms Word Format
  • : 76 Pages
  • : ₦3000
  • : 1-5 Chapters
  •  
  • Click to DOWNLOAD Materials

MANAGEMENT INNOVATION AND SUSTENANCE OF SMALL BUSINESS UNIT IN NIGERIA A STUDY OF TAILORING / FASHION DESIGN IN AGUDA, SURULERE, LAGOS.

ABSTRACT

This study assessed the impact of management innovation on the sustenance of small business units. The study employed the descriptive survey research design. The sample size consisted of 150 respondents drawn from the tailoring/fashion business area at Surulere Lagos. A 20-item structured questionnaire was designed to elicit responses from the sampled population on management innovation and sustenance of small business units. The Pearson Correlation Statistics was utilized with the help of the Special Package of Social Sciences (SPSS) to test the four hypotheses stated for the study. Results showed among others that the tested tailoring/ fashion design differed significantly in design, marketing, and sales from those best practices,  there was a significant difference between product design and implementation of Nigeria tailoring / fashion design and those of best practice, and there was a significant impact of education, training and years of work experience on tailoring fashion design business performance and that significant relationship exists between management innovation and sustenance of small business units. Based on these findings, the recommendations were made which include: individual goals should derive from strategic innovation direction and overall entrepreneur goals; small business entrepreneurs should know what customers’ needs are through needs assessments; education and training should be given to small business owners to make them be leaders in their business and government to create an enabling environment for the small business unit to survive.

MANAGEMENT INNOVATION AND SUSTENANCE OF SMALL BUSINESS UNIT IN NIGERIA A STUDY OF TAILORING / FASHION DESIGN IN AGUDA, SURULERE, LAGOS.

 

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Management innovation is an increasingly important element of globalization and competitiveness (Gorodnichenko, et al., 2010). As globalization and international competition intensifies, technology becomes more central to firms’ performance within the domestic and international market. This study measures AC as an explanatory variable for management innovation in firms. The innovativeness of firms may be affected by both internal and external factors. External factors are associated with a firm’s interaction with its external environment such as other firms, suppliers, or buyers (Jorna and Waalkens, 2006). Internal factors include, for instance, a firm’s inherited capacities, such as skills, accumulated experience, and prior related knowledge of its workforce (Webster, 2004), organizational structure, communication network, and R&D efforts, as well as the ability to respond appropriately to the intrinsic motivation of its employees (Jorna and Waalkens, 2006). It has been asserted that management innovation plays an essential role in the survival of firms in the business environment. Management innovations can in this context be viewed as a multidimensional concept (Neely et al., 2001). Schumpeter, for instance, defines management innovation as the introduction of a new good, the introduction of a new production method, the opening of a new market, or the opening of a new source of supply (Schumpeter, 1934). Similarly, Lundvall (1992), describes management innovation as an ongoing process of exclusion, search, and exploration resulting in new products, new techniques, new organizational forms, and new markets. Malerba (2002) refers to management innovation as a tradable application of an invention, as a result of invention integration into economic and social Practice. Kuratko and Hodgetts (2004) defined management innovation as the creation of new wealth or the alteration and enhancement of existing resources to create new wealth. Oslo Manual (2005) defines management innovation to be an activity that produces new or significantly improved goods (products or services), processes, marketing methods, or business organization OECD, 2005). Management innovation also refers to the process of creating ideas, developing an invention, and introducing a new product, process, or service to the market (Thornhill, 2006). The relationship between management innovation and firm performance has been confirmed in both empirical and theoretical studies. For instance, Calantone et al. (2002) examined the relationship between learning orientation, firm management innovation, and firm performance in US firms. Carol and Marvis (2007), examined the relationship between management innovation and organizational performance of Taiwanese SMEs in the manufacturing and service sectors. They measured performance in terms of firm sales. Van Auken et al. (2008) assessed the relationship between the degree of management innovation and performance among a sample of 1,901 Spanish manufacturing SMEs and their study revealed evidence of a positive relationship between three types of management innovation (product, process, and managerial/systems) and performance. Similarly, Garrido and Camarero (2010) investigated the relationship between learning orientation, innovativeness, and performance, and the finding of the study reveals that learning orientation significantly influences both innovativeness and performance. Also, Terziovski (2010) studied the management innovation practice and its effects on the performance of Australian SMEs. Their study revealed that management innovation strategy is a key driver of the performance of SMEs. Quite several studies (Carl and Marvis, 2007; Van et al., 2008; Terziovski, 2010; Mensah and Achuah, 2015) have focused on the assessment of the relationship between management innovation and performance within SMEs. Furthermore, business literature offers various classifications of management innovations that have been developed and applied (Schumpeter, 1934; Johannessen et al., 2001; Avermaete et al., 2003). Some authors (Avermaete et al., 2003; Johannessen et al., 2001) discuss management innovation from the perspective of output (product, process, organizational, marketing), while others (Damanpour, 1996; Jansen et al., 2006; Abernathy and Clark, 1985) describe the concept in terms of the degree of change (i.e., radical and incremental). Yet another perspective used in capturing the dynamic process of management innovation is that of the various stages of management innovation (i.e., invention initiative and realized management innovation). Management innovation is the output of initiatives within a firm. Porter (1990) argues that a firm is a collection of activities that are performed to design, produce, market, deliver, and support its product. However, we classify management innovation into four types: product, process, organizational, and marketing management innovation (Avermaete et al., 2003; OECD 2005).

 

1.2 Statement of the Problem

Several studies have shown that there is a clear connection between innovation and the creation of an entrepreneurial economy (Schumpeter 1934). Studies related to the performance of SMEs with a central focus on innovation capacity are limited (Siqueira and Cosh 2008). Our understanding of the innovation processes of the firm is poor as relates to SME efficiency; it lags due to the lack of a ground theory in SME performance studies (Davidsson and Klofsten 2003). There are different types of innovation (Trott 2008). In their study, Mazzarol and Reboud (2008) considered innovation to be related to new products or services, new production processes, new marketing techniques, and new organizational or managerial structures. Innovation may also involve technology, intellectual property, business, or physical activity (Sundbo 1998). It is seldom that an organization engages in one type of innovation without affecting other innovation areas (Damanpour et al. 1989).

1.3      Purpose of the study

The primary purpose of this research is to critically examine youth and church growth. The specific objectives are;

To examine the effect of innovations on the sustenance of small business units in Nigeria a study of tailoring/fashion design in Aguda, surulere, Lagos.

To examine the effect of marketing on the sustenance of small business units in Nigeria a study of tailoring/fashion design in Aguda, surulere, Lagos.

To examine the effect of product packaging on the sustenance of small business units in Nigeria a study of tailoring/fashion design in Aguda, surulere, Lagos.

1.4   Research Questions

The dimension that the study will follow will be based on these questions, which will help in creating an insight into the problem under investigation.

What is the effect of innovations on the sustenance of small business units in Nigeria a study of tailoring/fashion design in Aguda, surulere, Lagos.

What is the effect of marketing on the sustenance of small business units in Nigeria a study of tailoring/fashion design in Aguda, surulere, Lagos.

What is the effect of product packaging on the sustenance of small business units in Nigeria a study of tailoring/fashion design in Aguda, surulere, Lagos.

1.5   Research hypotheses

The following hypotheses were formulated for testing at a 0.05 level of significance.

There is no significant effect of innovations on the sustenance of small business units in Nigeria a study of tailoring and fashion design in Aguda, surulere, Lagos.

There is no significant effect of marketing on the sustenance of small business units in Nigeria a study of tailoring and fashion design in Aguda, surulere, Lagos.

There is no significant effect of product packaging on the sustenance of small business units in Nigeria a study of tailoring and fashion design in Aguda, surulere, Lagos.

1.6   Significance of the study

The findings of this study would be beneficial to the researchers, SMES operators, students, and entrepreneurship policymakers.

The findings would provide useful information to the business managers since they contain information management innovation.

This study would also be significant in the sense that its findings would serve as reference materials for future researchers to carry out further studies in the field of knowledge under study

Finally, the outcomes of this research would be of immense benefit to students of the Faculty of Business Management and policymakers because it revealed information on management innovation and its corresponding impacts.

1.7  Scope of the study

The study was delimited to the effects of management innovation and sustenance of small business units in Nigeria a study of tailoring/fashion design in Aguda, surulere, Lagos.

1.8 Limitations of the Study

In every research work, the researcher may likely encounter some limitations. The researcher encountered some challenges during the period of carrying out this research. Some of these challenges include the dearth of materials for proper and effective research work constitutes a major limitation. Again, how to get the true and required information from the respondents through a questionnaire also constituted a constraint in the study.

 

MANAGEMENT INNOVATION AND SUSTENANCE OF SMALL BUSINESS UNIT IN NIGERIA A STUDY OF TAILORING / FASHION DESIGN IN AGUDA, SURULERE, LAGOS. GET MORE BUSINESS MANAGEMENT PROJECT TOPICS AND MATERIALS

Sharing is caring!

Leave a Reply