– Innovation and Organizational Resilience in Selected Manufacturing Firms in Enugu State, Nigeria –
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ABSTRACT
The study investigated the relationship between innovation and organizational resilience in selected manufacturing firms in Enugu state, Nigeria. The study aimed to achieve the following specific objectives: to determine the extent to which process innovation affect organizational response; to ascertain the effect of product innovation on business vulnerability.
To determine the nature of the relationship between service innovation and adaptive capacity; and to ascertain the extent of the relationship between radical innovation and organizational recovery. The study was conducted using the survey design.
The population of the study was 1400 employees from Nigeria Breweries Limited, Innoson Technical and Industrial Company Limited, Juhel Nigeria Limited. A sample of 302 respondents was drawn from the population using Stat Trek’s planning wizard tool. The sources of data were both primary and secondary.
The primary data were collected through questionnaire and interview schedule while secondary data were sourced from relevant journals, textbooks and internet materials. Questionnaire as the instrument for data collection was designed on a five-point likert scale according to the objectives of the study.
Content validity was used to ensure that the variables were adequately covered. The reliability of the instrument was done through the use of pilot study yielding a reliability index of 0.89 which indicated a high degree of items consistency.
INTRODUCTION
In modern times where uncertainty is the order of the day, there are issues confronting the society and businesses existing in the society, and organizations that are proactive and innovative and takes the right decision could be the organization that survives in this dynamic and ever changing business environment.
Innovation play a key role for the survival of firms; innovation “strikes not at the margins of the profits and the outputs of the existing firms but at their foundations and their very lives” (Schumpeter, 1942: 84).
More recently this view has been stated by Baumol (2002): “…under capitalism, innovative activity…becomes mandatory, a life-and-death matter for the firm and innovation has replaced price as the name of the game in a number of important industries” (Baumol, 2002: 1).
Innovation matters for all different types of firms, new as well as established firms. As Schumpeter emphasises, innovation is a powerful vehicle for new firms to successfully enter the market and undermine the established firms. As well, established organizations need innovating to maintain their competitive position in the face of new and emerging or ‘disruptive’ technologies (Christensen, 1997).
Innovation is a driver of economic growth. It is linked to increased welfare, the creation of new type of jobs and the destruction of old ones. For firms, innovation is important for a number of reasons including survival, growth and shareholder return (Banbury and Mitchel, 1995).
In a recent book, Baumol noted that “virtually all of the economic growth that has occurred since the eighteenth century is ultimately attributable to innovation. The Economist Intelligence Unit undertook a survey in 2007 which noted that long-run economic growth depends on the creation and fostering of an environment that encourages innovation.
REFERENCES
Andy N. and Jasper H. (2012) The Innovative Capacity of Firms. Nan Yan Business Journal 1(1): 1-53
Chatzkel J. (2003) Knowledge Capital: How Knowledge Based Enterprises Really Gets Built. New York: Oxford University Press.
Christensen, M. C. (1997), The Innovator’s Dilemma. Harvard Business School Press
Damanpour, F. and Gopalakrishnan, S. (2001) ‘The Dynamics of the Adoption of Product and Process Innovations in Organizations’. Journal of Management Studies 38(1): 45-66.
Hamel G., (2002). Leading the Revolution: How to Thrive in Turbulent Times by Making Innovation a Way of Life. New York, First Plume Printing.
Smith J. and Huq S. (2003) Climate Change Adaptive Capacity and Development. Imperial College Press.
StudentsandScholarship Team.
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