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Impact of Innovation on the Entrepreneurial Success in Selected Business Enterprises in South-West Nigeria

Impact of Innovation on the Entrepreneurial Success in Selected Business Enterprises in South-West Nigeria

Olu Oju
Copyright: © 2017 |Pages: 10
ISBN13: 9781522517795|ISBN10: 1522517790|EISBN13: 9781522517801
DOI: 10.4018/978-1-5225-1779-5.ch002
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MLA

Oju, Olu. "Impact of Innovation on the Entrepreneurial Success in Selected Business Enterprises in South-West Nigeria." Driving Innovation and Business Success in the Digital Economy, edited by Ionica Oncioiu, IGI Global, 2017, pp. 16-25. https://doi.org/10.4018/978-1-5225-1779-5.ch002

APA

Oju, O. (2017). Impact of Innovation on the Entrepreneurial Success in Selected Business Enterprises in South-West Nigeria. In I. Oncioiu (Ed.), Driving Innovation and Business Success in the Digital Economy (pp. 16-25). IGI Global. https://doi.org/10.4018/978-1-5225-1779-5.ch002

Chicago

Oju, Olu. "Impact of Innovation on the Entrepreneurial Success in Selected Business Enterprises in South-West Nigeria." In Driving Innovation and Business Success in the Digital Economy, edited by Ionica Oncioiu, 16-25. Hershey, PA: IGI Global, 2017. https://doi.org/10.4018/978-1-5225-1779-5.ch002

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Abstract

This study examined the impact of innovation on the entrepreneurial success in selected business enterprises in South-Western Nigeria. The paper dwelt on the extent to which the selected enterprises innovation effort affects the quality of their product as well as the company image. Data were analysed using descriptive and inferential statistics. Hypotheses were tested at 0.05 significant levels with the aid of parametric student t-test. The results revealed that there is a positive relationship between innovation and product quality as well as a positive relationship between innovation and good corporate image and that both of them significantly affect entrepreneurial success. The study recommends that business enterprises should engage more on innovation of their production process to improve their product quality and even enhances good corporate image. This will help them to sustain their position in the face of stiff competition.

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