Submit your papersSubmit Now
For Enquiries: [email protected]
IIARD LogoIIARD

Entrepreneurial Innovativeness at Work: Powering Revenue in Nigeria’s Consumer Industry

Betty Nkiruka Akuchi, Ph.D, Gilbert Ogechukwu Nworie, Nnenne Ifechi Adani

Abstract

This study examined the effect of entrepreneurial innovativeness on revenue in Nigeria’s consumer goods market, with the specific objective of determining how innovation practices influence revenue growth. A survey research design was adopted to collect data from selected managerial and operational staff of twenty listed consumer goods firms, with a total sample size of 400 respondents. Primary data were gathered using a structured questionnaire based on a five-point Likert scale, capturing the extent of entrepreneurial innovativeness and its impact on revenue. The hypothesis was tested using ordinal probit regression to assess the influence of entrepreneurial innovativeness on revenue growth categories. The findings revealed a significant positive relationship, indicating that higher levels of innovation practices increase the likelihood of achieving greater revenue growth (β = 0.896, p = .000). The study concluded that entrepreneurial innovativeness is a critical driver of revenue performance, and firms that actively implement innovative strategies are more likely to sustain growth and maintain competitive advantage in the sector. Therefore, firms should actively encourage the development and launch of new products or the improvement of existing ones. Management can establish dedicated innovation teams or committees to identify customer needs, experiment with product ideas, and implement changes that can enhance revenue growth.

Keywords

Entrepreneurial InnovativenessFirm RevenueConsumer Industry

References

Adedoyin, O., Victoria, O., & Babatunde, H. (2021). Entrepreneurial orientation and market share of selected quoted consumer goods manufacturing companies in Nigeria. International Journal of Engineering and Management Research, 11. Barango-Tariah, M. U., & Okwandu, G. A. (2024). Corporate innovativeness and marketing performance of quoted consumer goods manufacturing companies in Nigeria. BW Academic Journal, 9(2), 1-18. Cyril-Nwuche, O. F. (2025). Entrepreneurial innovation and competitive advantage of selected manufacturing firms in Anambra State. World Journal of Entrepreneurial Development Studies , 10(6), 183–200. Ernest, J. T., Andow, H. A., & Ibrahim, M. G. (2025). Schumpeter’s theory of innovation in the manufacturing sector: Driving competitive advantage through disruptive technologies. Journal of Management Science and Entrepreneurship, 8(7), 93–117. Fasanmi, O. O., Adeniyi, B. C., & Oyenuga, M. O. (2025). Exploring the role of innovation on economic performance of manufacturing firm in Nigeria. J Econom Finance Manage Stud, 8(1), 694-706. Ndanusa, A., Adofu, I., & Alhassan, A. (2025). Impact of consumer goods trade on economic growth in Nigeria. Confluence Journal of Social Sciences, 1(1), 46-70. Nwekeela, B. B., & Dick, D. I. (2022). Entrepreneurial marketing innovativeness and organizational competitiveness of quoted industrial goods manufacturing firms in Nigeria. BW Academic Journal, 7(1), 106-123. Nwikinaka, L. B., Nwokah, N. G., & Adiele, K. C. (2023). Entrepreneurial innovativeness and organizational competitiveness of quoted fast moving consumer goods in Nigeria. Journal of Contemporary Marketing, 8(1–2), 1–14. Nworie, G.O., Okafor, T.G. & John-Akamelu, C.R. (2022). Firm-level traits and the adoption of computerised accounting information system among listed manufacturing firms in Nigeria. Journal of Global Accounting, 8(3), 128-148. Retrieved from https://journals.unizik.edu.ng/index.php/joga/article/view/1858 Nworie, G. O., Onochie, C. C., & Nwakoby, N. P. (2025). Strengthening firm sustenance through entrepreneurial innovation: Evidence from the Nigerian industrial goods sector. Annals of Management and Organization Research, 6(4), 405-418. Nworie, G. O., Onyeogubalu, O. N., & Akwuobi, B. U. (2026). Entrepreneurial bricolage among Gen Z in Nigeria: The role of self-efficacy. Journal of Global Economics, Management and Business Research, 18(1), 388–399. https://doi.org/10.56557/jgembr/2026/v18i110352 Nworie, G. O., Uche, M. U., Elom, J. O., Chukwu, U. C. & Nweke-Charles, E. U. (2025). Household accounting and financial well-being among households in Ebonyi State. Journal of Accounting and Contemporary Studies , 3(1), 1–22. https://ebsujacs.com/index.php/JACS/article/view/1/10 Nworie, G. O., Uche, M. U., Elom, J. O., Chukwu, U. C. & Nweke-Charles, E. U. (2025). Household accounting and financial well-being among households in Ebonyi State. Journal of Accounting and Contemporary Studies , 3(1), 1–22. https://ebsujacs.com/index.php/JACS/article/view/1/10 Oladipo, G. T., Omolekan, O. J., Olota, O. O., & Abogunrin, A. P. (2026). Relevance of innovativeness in enhancing productivity among Nigeria’s entrepreneurs. Harmoni Sosial: Jurnal Pendidikan IPS, 13(1), 1-16. Olaitan, A. J. (2026). Entrepreneurial marketing innovativeness and organizational competitiveness of eateries in Port Harcourt. Advanced Journal of International Management and Marketing, 14(1), 73–95. Olasoji OT, Akpa VO (2023). Does Innovative Capability Really Matter for the Profitability of Consumer Goods Companies in Developing Economies?. SunText Rev Econ Bus 4(3), 191. Oyewole, O. A. (2026). Impact of Cost Control on Profitability of Small Businesses Units in the US. Journal of Economics and Trade, 11(1), 196-210. Priyono, A., & Hidayat, A. (2024). Fostering innovation through learning from digital business ecosystem: A dynamic capability perspective. Journal of Open Innovation: Technology, Market, and Complexity, 10(1), 100196. Santos, R. M. (2023). The Age of Innovation: More Schumpeter than Keynes. In Science, Technology and Innovation in the History of Economic Thought (pp. 159-177). Cham: Springer Nature Switzerland. Sodeinde, G. M. (2021). Effect of Entrepreneurial Innovation on the Performance of Informal Sector: A Study of Carpentry Firms in Lagos State. Kwara State University (Nigeria). Tzeng, C. H. (2009). A review of contemporary innovation literature: A Schumpeterian perspective. Innovation, 11(3), 373-394.

More Articles from WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES