Organizational Innovations and Firm Performance

Abstract

The study examined how organisational innovation affects firm’s performance. Determine the impact of resource acquisition on firm performance and evaluate the impact of market orientation on firm performance were the particular goals. The study used a sample of 150 respondents that was created using data already available in Asaba Delta State. To administer the responders, a straightforward random sample procedure was used. Using a semi-structured questionnaire, primary data was obtained. The study used a descriptive survey design approach and multiple regression analysis as a statistical tool to assess the hypotheses. The study’s findings showed that market orientation has a considerable impact on the performance of chosen firms, and that resource acquisition has a large impact on company performance. The study comes to the conclusion that in order for businesses to succeed in a highly competitive environment, they must be responsive to the needs and wants of their customers. To do this, they must be market-oriented in terms of their focus on their customers, their orientation towards competitors, and the coordination of their internal departments’ various functions. Finally, it was advised that as one of the prerequisites to a market orientation and staff training, senior management of a company as well as the various departments should support the market orientation.