Title: Corporate Innovativeness and Competitiveness of Quoted Manufacturing Firms of Industrial Goods in Nigeria
Authors: Dick, DiepriyeI.J. PhD, Simeon, Baratuaipere PhD
Volume: 9
Issue: 7
Pages: 18-25
Publication Date: 2025/07/28
Abstract:
This study investigated the relationship between Corporate Innovativeness and Competitiveness of Quoted Manufacturing Firms of Industrial Goods in Nigeria. The study employed a cross-sectional survey research design, the explanatory or hypotheses testing research design was used with a correlational method of investigation. The resource based theory was used to underpin the study. The population of the study was the ten quoted industrial goods manufacturing companies, listed on the floor of the Nigerian stock exchange. A census study was carried out. However, six managers from the functional units of the organizations; marketing, production, finance, human resources, sales and the general managers in each company made up the respondents of the study. The study made use of primary data. Sixty copies of the questionnaire were distributed to the functional managers, only forty four copies of the questionnaire were validly used out of the forty nine copies that were returned. The study employed both univariate and bivariate statistics for the data analysis, with the aid of the statistical package for social sciences (SPSS) version 25.0. The findings of the study revealed that corporate innovativeness and its dimensions; creativity and new product introduction have positive and significant relationships with firm competitiveness and its measures; value creation and new market exploration. We therefore conclude that corporate innovativeness behaviours improve firms competitiveness. The study recommends that management of the quoted industrial goods manufacturing firms should be creative, periodically introduce new products. This will create value for existing and new markets and significantly enhance the competitiveness of the firms in the market place.