Strengthening firm sustenance through entrepreneurial innovation: Evidence from the Nigerian industrial goods sector

https://doi.org/10.35912/amor.v6i4.2796
Published: May 23, 2025

Abstract:

Purpose: The dearth of innovation not only limits operational efficiency, but also exposes firms to heightened risks of obsolescence and market displacement. Thus, this study ascertains the effect of entrepreneurial innovation on the sustainability of listed industrial goods firms in Nigeria.

Research Methodology: A sample size of eight out of 13 listed industrial goods firms was selected. Using the ex-post facto research strategy, secondary data were extracted from firms’ annual reports over a ten-year period (2014-2023). Analyses were performed using descriptive test, linearity test, heteroskedasticity test, autocorrelation test, and ordinary least square regression.

Results: It was found that entrepreneurial innovation practice significantly enhances firm sustenance (proxy by operating cash flow ratio) among listed Nigerian industrial goods firms (b = 0.352574; p-value = 0.004759).

Conclusions: By fostering a culture of innovation, investing in research and development, and leveraging modern technologies, firms can position themselves for long-term success despite prevailing economic challenges.

Limitations: One limitation of this study is the small sample size, as only eight of the 13 listed industrial goods firms in Nigeria were included.

Contribution: This study contributes to the literature by addressing the gap in the existing literature on entrepreneurial innovation in industrial goods firms, particularly publicly listed firms in Nigeria, an area largely overlooked in prior research on SMEs and niche industries.

Recommendation: This study recommends that company executives establish dedicated innovation departments or strengthen existing ones to drive continuous improvement in the firm.

Keywords:
1. Entrepreneurial Innovation
2. Firm Sustenance
3. Nigerian Industrial Goods Sector
Authors:
1 . Gilbert Ogechukwu Nworie
Nnamdi Azikiwe University, Awka, Anambra State, Nigeria
2 . Christopher Chinedu Onochie
Nnamdi Azikiwe University, Awka, Anambra State, Nigeria
3 . Nkiru Peace Nwakoby
Nnamdi Azikiwe University, Awka, Anambra State, Nigeria
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How to Cite
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. https://doi.org/10.35912/amor.v6i4.2796
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Issue & Section
Vol. 6 No. 4 (2025): May
Articles
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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author Biography

Nkiru Peace Nwakoby, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria

Lecturer

References

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    Iyobhebhe, I., Majekodunmi, S. A., & Ogundele, J. I. (2025). Innovation and organization competitiveness: a study of Dangote Cement Plc., Nigeria. Jurnal Intelek, 20(1), 1-11.

    Kimathi, B., Mukulu, E., & Odhiambo, R. (2019). Effect of Innovation on the performance of Small and Medium Enterprises in Kenya. International Journal of Entrepreneurship, 2(1), 15-28. doi:https://doi.org/10.47672/ije.381

    Kiveu, M. N., Namusonge, M., & Muathe, S. (2019). Effect of innovation on firm competitiveness: the case of manufacturing SMEs in Nairobi County, Kenya. International Journal of Business Innovation and Research, 18(3), 307-327. doi:https://doi.org/10.1504/IJBIR.2019.098251

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    Lazzarotti, F., Samir Dalfovo, M., & Emil Hoffmann, V. (2011). A bibliometric study of innovation based on Schumpeter. Journal of technology management & innovation, 6(4), 121-135. doi:http://dx.doi.org/10.4067/S0718-27242011000400010

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    Naab, R., & Bans-Akutey, A. (2021). Assessing the use of e-business strategies by SMEs in Ghana during the Covid-19 pandemic. Annals of Management and Organization Research, 2(3), 145-160. doi:https://doi.org/10.35912/amor.v2i3.800

    Nakato, M., Ngigi, B., & Andemariam, K. (2021). Effect of product innovation on performance of printing SMEs in Kampala Central District. European Journal of Business and Strategic Management, 6(2), 1-14. doi:https://doi.org/10.47604/ejbsm.1386

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    Ukoh, U. M., Nduokafor, C. O., & Nworie, G. O. (2024). Sustainability Reporting among Oil and Gas Firms: A strategic tool for enhanced firm value. International Journal of Economics and Financial Management, 9(2), 144-166. doi:https://doi.org/10.56201/ijefm.v9.no2.2024.pg144.166

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  46. Ukoh, U. M., Nduokafor, C. O., & Nworie, G. O. (2024). Sustainability Reporting among Oil and Gas Firms: A strategic tool for enhanced firm value. International Journal of Economics and Financial Management, 9(2), 144-166. doi:https://doi.org/10.56201/ijefm.v9.no2.2024.pg144.166
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