Growth Strategy, Technological Innovation and Performance of Manufacturing Firms in Southwest Nigeria

OLADOTUN, Abimbola and Kehinde, O.J. and Falola, Hezekiah Olubusayo and Salau, Odunayo Paul and Ademilua, Victor Aderemi and Olowu, Gbolahan and Adio, Lateef Abolaji (2022) Growth Strategy, Technological Innovation and Performance of Manufacturing Firms in Southwest Nigeria. Remittances Review, 8 (4). pp. 4321-4342. ISSN 2059-6588 (Print) | ISSN 2059-6596 (Online)

PDF Download (4MB)

Abstract

GroJIIth strategy is critical to the peiformance of small and medium enterprises (SME) in an economy. This stutjy examined the moderating effect of technological innovation on growth strategy and peiformance of SMEs. It adopts quantitative approach, and used 361 copies of questionnaire wen distributed among Si\tlE o1vners in So11thwest Nigeria and anajysed 1vith Stmctural E quation Modelling (51\IIART PLS). Results shows significant relationships between growth strategy and SME s peiformance and technological innovation reinforces the relationships. It indicates that product development has 18% predictability on peiformance of SME, also 58% of variance in peiformance of SME is explained f:y market penetration. Market development has 13% predicting effect on peiformance of SME, and also that 10% of variance in peiformance of small and medium enterprise is explained 0 product diversification. It is recommended that o1vners of SME s should invest in quality and diversified products, and invest in research and development that encourages intraprenetmhip.

Item Type:	Article
Uncontrolled Keywords:	Growth Strategies, Manlffacturing, Prod11ct Development, S1V!E s Peiformance, Technological Innovation
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User:	nwokealisi
Date Deposited:	26 Apr 2024 13:50
Last Modified:	26 Apr 2024 13:50
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/17937

Actions (login required)

View Item