Title: Entrepreneurialbusiness Innovative Strategies And Performance Of Msmes In Delta State, Nigeria
Authors: Odita A.O; Mordi K.E; Okoh S.G and Oduah J.I
Volume: 9
Issue: 5
Pages: 19-31
Publication Date: 2025/05/28
Abstract:
This study examined the relationship between entrepreneurial business innovation strategies and performance of micro, small, and medium enterprises (MSMEs) in Delta State, Nigeria. The sampling object used for this work comprises of the managers and owners of MSMEs in Delta State; this is done in respect of measures of business innovation strategies, namely; Product Innovation Strategy (PTIS), Process Innovation Strategy (PIS), and Service Innovation Strategy (SIS) (independent variables) on performance of micro, small, and medium enterprises (MSME) (dependent variable) and responses from the respondents were collected with the aid of five (5) likert scale questionnaire. A total of three hundred and sixty-three (363) questionnaires were administered, out of the questionnaire administered to owners and manager of SMEs in Delta State, Nigeria, two hundred and thirty-nine (239) were retrieved and properly filled. This two hundred and thirty-nine (239) respondents represent 65.84 percent of the total questionnaire administered, which shows that two hundred and thirty-nine (239) respondents is sufficient for the study. The research questions were analyzed with the aid of descriptive statistics and correlation matrix. The hypotheses of the study were tested using the multiple regression statistical tools with the aid of SPSS version 23 as the basis of testing hypotheses. The findings revealed that there is significant relationship between PTIS and PMSME (0.008<0.05), there is a significant positive relationship between PIS and PMSME (0.009<0.05); and finally, there is a significant positive relationship between SIS and PMSME (0.018<0.05).From the findings of the study, it can be concluded that, overall that entrepreneurial business innovation strategies had a significant relationship on performance of micro, small, and medium enterprises (MSMEs) in Delta State, Nigeria. The study recommended that Entrepreneurs of MSMEs should focus on product innovation by diversifying their product lines and customizing offerings to meet local market demands. This can involve developing new products or enhancing existing ones based on customer feedback and market trends.