IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 9 NO. 4 2024
DOI: 10.56201/wjeds.v9.no4.2024.pg89.110

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Innovativeness and Financial Competitiveness of Manufacturing Firms in South-East, Nigeria

Nwabuatu, Emmanuel Nnajiubah (Ph.D)

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Abstract

The study examined the relationship between Innovativeness and Financial Competitiveness of Manufacturing Firms in South-East, Nigeria. The study adopted a cross-sectional research design. The population for this study consists of 608 participants from 64 manufacturing firms in the South-East Region of Nigeria. The respondents were top managers, operations managers, sales managers, supervisors, and senior staff. The primary data were collected through a questionnaire. The data were analyzed using Spearman’s Rank-Order Correlation Coefficient Statistic through the Statistical Package for Social Science. The study found a significant relationship between Innovativeness and Financial Competitiveness of Manufacturing Firms in South-East, Nigeria. Hence, the study concluded that Innovativeness relates to Financial Competitiveness. Therefore, the study recommended that management should develop new products that meet the needs of the local market and are competitive in the global market the improve profit growth of manufacturing firms in the South-East region of Nigeria. Management should develop strong relationships with suppliers to ensure a steady supply of high-quality materials and services to improve financial performance of manufacturing firms in the South-East region of Nigeria. Management should implement new technologies that can improve manufacturing processes, such as automation, robotics, and data analytics to achieve financial performance financial performance

keywords:

Innovativeness, Product Innovation, Service Innovation, Process Innovation, Profit

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