A Critical Discourse of EI and CA in Emerging Economies: The Place of Nigeria Within the Global Innovation Ecosystems

Abstract

This study explores the levels of and barriers to entrepreneurial innovation (EI) and competitive advantage (CA) in emerging economies, and situates the findings within the Nigeria’s global innovation ecosystems. A qualitative research approach is preferred relying on the secondary data extracted from the reports of Global Competitiveness Index (GCI) and enriched by scholarly works including insights from the reports of Global Entrepreneurship Index (GEI). The extracted data from the afore-mentioned sources were critically reviewed and analysed using content analysis to understand the connection between EI and CA. At the end of the analysis, the study found that for 10 years (2008–2017), Nigeria manifested low EI and CA on the GCI ranking, whereas other African countries such as Ghana, Cameroon and South Africa, with lesser economic resources, did comparatively better. Second, it was found that, the key barriers to EI and CA are infrastructural neglect, lack of strong regulatory institutions, weak macroeconomic environment, weak technological readiness, poor business sophistication and low innovation among others. The study improves understanding of theoretical, managerial and policy implications of EI and CA. It also provides appropriate strategic suggestions for stimulating EI and enhancing CA at both national and industry levels in Nigeria. The study contributes to the raging debates on EI and CA in emerging economies. It also supports the Schumpeter’s creative discovery theory and resource-based view of CA.

Diversity, entrepreneurial innovation, and performance of healthcare sector in the COVID‐19 pandemic period

“…Middle-line managers are also facing managerial ineffectiveness and shortage of resources (Raimi & Yusuf, 2020).…”

“…On the other hand, many scholars like Jones et al (2020) and Grubbs (2020) stated that workforce diversity practices must be employed by managers and executives in healthcare sector since they could lead to improve the capacity of medical centers to innovate and deal with new challenges during and after the COVID-19 pandemic period. Raimi and Yusuf (2020) recommended the development of workforce diversity since it can improve the innovation activities and therefore, leads to face the new challenges and mitigate the different types of risk during crisis period.…”

“…Additionally, the pandemic has destroyed jobs across sectors and rendered several occupations obsolete and redundant‑a situation that calls for upgrading and upscaling of existing skills to help employees and employers cope adequately with the pandemic (Osland et al, 2020). It is reassuring to report that several organizations in emerging economies are already adopting diversity practices and entrepreneurial innovation to gain a competitive advantage in the changing business environment (El‐Chaarani & El‐Abiad, 2018; Grubbs, 2020; Raimi & Yusuf, 2020). The service providers across different sectors are already rethinking and reinventing their operations and business models because of the threat of uncertainty imposed by the pandemic (Kilic, & Marin, 2020).…”

Economic Crisis Management During the COVID-19 Pandemic: The Role of Entrepreneurship for Improving the Nigerian Mono-Economy

“…Zanella et al ( 2019 ) expressed that organizations must make many new items and procedures to utilize more innovative techniques and simultaneously ensure their endurance. Raimi and Yusuf ( 2020 ) have also highlighted the scope of entrepreneurial innovativeness in Nigeria by mentioning the institutional framework and technological backwardness as a few main barriers to the country’s mono-economic status. Entrepreneurial innovativeness plays a highly crucial role in the growth of an economy (Asheim, 2019 ; Kolehmainen et al, 2016 ), the standard of living of individuals, the quality and prices offered by competitive businesses, and the demand and supply forces within any sector, as well as the general development and progress that the country experiences especially in terms of economic growth including both GDP and Gross National Product (GNP), employment rates, and sustained well-being of the people (Al-Mubaraki et al, 2014 ; Kiyabo & Isaga, 2020 ; Shumetie & Watabaji, 2019 ).…”

Economic Crisis Management during the Covid-19 Pandemic: The Role of Entrepreneurship for Improving the Nigerian Mono-Economy

“…Entrepreneurial Innovativeness and Economic Reinstatement Zanella et al (2019) expressed that organizations must make many new items and procedures to utilize more innovative techniques and simultaneously ensure their endurance. Raimi and Yusuf (2020) have also highlighted the scope of entrepreneurial innovativeness in Nigeria by mentioning the institutional framework and technological backwardness as a few of the main barriers to the country's monoeconomic status. Entrepreneurial innovativeness plays a highly crucial role in the growth of an economy (Asheim, 2019;Kolehmainen et al, 2016), the standard of living of individuals, the quality and prices offered by competitive businesses, the demand and supply forces within any sector, as well as the general development and progress that the country experiences especially in terms of economic growth including both GDP and Gross National Product (GNP), employment rates, and sustained well-being of the people (Kiyabo and Isaga, 2020;Shumetie and Watabaji, 2019;Al-Mubaraki et al, 2014).…”