Innovation Complexities and Market Performance: Evidence from Nigerian Food and Beverage Sector

Abstract

The dynamic nature of business environment and the ever changing needs of consumers have to constantly make strategic organizations to continue to adopt innovative practices to continue to survive. Firms adopt innovation strategy to survive and gain competitive advantages in the marketplace. Innovation strategy entails adoption and implementation of a new or significantly improved product, or process, a new marketing method, or a new organizational method in business practices. The thrust of this study was to examine the relationship between innovation complexities and market performance. The study adopted primary data were with the aid of a structured questionnaire that was administered to respondents. A Structural Equation Model was used to test the hypothesis and findings of the study revealed that innovative practices adoption and implementation is provides opportunities to organization in terms of been proactive to changes and also initiating positive changes that aids competitive advantage and sustainable performance. The study recommends that since innovative practices is germane and integral for improved sustainable performance, it must be continuously maintained, sustained and improved.