TABLE OF CONTENT
Table of content
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research question
1.5 Research hypotheses
1.6 Significance of the study
1.7 Scope and limitation of the study
1.8 Operational definition of terms
1.9 Organization of the study
2.2 conceptual review
2.3 empirical review
3.0 Research methodology
3.1 sources of data collection
3.3 Population of the study
3.4 Sampling and sampling distribution
3.5 Validation of research instrument
3.6 Method of data analysis
DATA PRESENTATION AND ANALYSIS AND INTERPRETATION
4.2 Data analysis
The research study focused on an aspect of creativity, that is, product creativity within small enterprises that are craving for survival within the stiffened economy. In the recent years, Nigeria has recorded an economic growth but with a trajectory which offers both positive and negative lessons regarding the innovation of business faced by many countries in Nigeria and elsewhere in the developing world. Nigeria needs to create 1-1.5 crore (10-15 million) jobs per year for the next decade to provide gainful employment to its young population. Accelerating entrepreneurship and business creation is crucial for such large-scale employment generation. Moreover, entrepreneurship tends to be innovation-driven and will also help generate solutions to Nigeria’s myriad social problems including high-quality education, affordable health care, clean energy and waste management, and financial inclusion and Innovation are at the heart of the spirit of enterprise. It means striving to perform activities differently or to perform different activities to enable the entrepreneur deliver a unique mix of value. The enterprises’ actions in creating new product are therefore studied to identify to what degree such vital parts of their actions lead to success of their enterprises. The study adopted the descriptive research and survey design as it methodology and it was most appropriate for the study because of the large population of the study. For clear analysis, the study centers on two broad variables; the dependent variable and the independent variable. The dependent variable is taken as entrepreneurial success which was further broken into sub-variables to include sales increase and profit increase. The independent variable was product creativity which was operationalized in terms of time, that is, new product initiation period, market period, and maturity period. The method of date analysis was the percentage and graphical representation method. The hypotheses were tested using the chi-square statistics with the aid of statistical package for social sciences version 23 (SPSS 23) with interpretation provided for further recommendation and conclusion to be made thereon.
- Background of the study
Entrepreneurship is a construct that is seen by some people to relate to a set of personal characteristics, a set of behaviors by others and a combination of both of these possibilities by yet another group (Llewellyn and Wilson, 2013). Entrepreneurship means different things to different people. Today‟s global business environment, innovation and creativity are key ingredients in creating and sustaining strategic advantage. Among the main reasons for this renewal are the new way of thinking managers and economists from countries with a developed market economy and a new perception of economic opportunities. However, innovation cannot be sustainable until and unless it is in aligned with triple bottom line elements that is, economic, social and environmental dimensions. In this context a sustainable environment helps to generate innovations and knowledge, it also changes the knowledge characteristics and ecosystem (Hemsley and Mason, 2013). The entrepreneurial successes are the life blood to businesses around the world. Organizations therefore strive to meet these regulations and standards in order to remain compliant, and to increase the efficiency and credibility of the business. This is evident from the fact that every activity carried out by the businesses revolve around learning and fulfilling the needs of the customers (Ayyagari et al., 2013; Chen, 2015; Choi and Hwang, 2015). One aspect of great importance for the existence and perpetuation of the rise or decline of Small and medium sized enterprises (SMEs) in the economy of any country is to their contribution to creating new value. The rhythms alerts or slower, sooner or later, all countries will realize that initiating, developing, supporting even these organizations are not only unavoidable, but will lead to detect the only alternative economically efficient creation of new jobs, maintaining permanent organizational flexibility, stimulation of innovation and creativity (Oncioiu, 2013). Another different approach of innovation capability is “the ability to create innovations in responding to contextual changes and opportunities without organizational disruption, excessive time and costs, or loss of performance” (Buganza and Verganti, 2006). The perception of entrepreneurs is that innovation does not only improve the quality of products or process, but also has a positive economic return on the small enterprise (Tan and Nasurdin, 2011). Every firm has certain business objectives which further funnels down to operations and purchasing sub-objectives. Therefore, every firm need to measure performance to evaluate how far it is from the set goals. Historically, scholars view entrepreneurs in many ways, but mainly as an innovator who is responsible for the creation of new products, new methods of production and new processes, and who is also capable of identifying new markets (Schumpeter, 2019). In fact, the nature of innovative process that affects enterprise survival and economic growth revolves around the active and inactive functions of the entrepreneur (McPherson, 2016).
Today, most Nigerian entrepreneurs lack practical creativeness which combines resources and opportunities in new ways. Their level of innovativeness is not as sound as what is obtained in Western World. Above all, they fail to embark on proper planning, organizing, staffing, controlling and lack of ability to embark on commensurable risk of their capital and other resources in new business ventures from which they expect substantial rewards. Most small and medium enterprises in Nigeria lacks prudent managerial decisions, ideas, originality and foresight about what to produce or how best to produce it and make substantial profit. If at all the management is embarking on sound initiative and creativity practice, these would have been enhanced. Okpara (2007) defined innovation as adding, something new to an existing product or process. The key words are adding and existing. The product or prices has already been created from scratch and has worked reasonably well. In Nigeria and in other emerging countries, the subject of innovation reveals that there is a dearth of literature in the developing countries and this creates a major gap in knowledge that has to be filled (Dapice, 2015; Cappa et al., 2016).
- STATEMENT OF THE RESEARCH PROBLEM
Entrepreneurship in the Nigeria now is being the center of attention given that it has proved its ability to operate businesses, increase the performance and insure an income to the economy and working opportunities for individuals in the country. Many factors may have a role in either increasing or decreasing the awareness and productivity of Entrepreneurship Initiatives within the Nigerian context. Innovation is critical for organizational long-term prosperity, particularly in dynamic markets. In view of today’s economic climate, increasing global competition, and rapidly changing organisations, an organisation’s ability to innovate is regarded as a key factor for success (Shipton, 2006) and often for mere ongoing survival (Oldham & Cummings, 1996). Whilst the notion that firms need to innovate dates back to the early 1930s (Schumpeter, 1934), governments and organisations are now acutely aware that firms face the challenge of developing new products, systems and processes on a systematic basis. However, the current study seeks to examine the influence of a set of variables on creativity and innovation in Entrepreneurship Initiatives including (Strategies, Technology, Resources, Management Support and Culture). It follows, then, that innovation begins with creativity. In the world of organizations, be they private or public, lack of either leads to stagnation, and leaves an organization unable to perform or meet change.7 However, creative thinking cannot be turned on and off at the flick of a switch. And innovation does not occur in a vacuum; it requires effective strategies and frameworks, among which incentives are paramount. Creativity flourishes in organizations that support open ideas: these organizations create environments that inspire personnel and maintain innovative workplaces; those that fail are large organizations that stifle creativity with rules and provide no slack for change. Creativity and innovation are key factors in entrepreneurship development, which have been in practice since time past. It comes in the form of skill acquisition whereby people acquire the inherent in the family or from skillful people around them. Growth and development of enterprise cannot be sustained without creativity and innovation. However, as creative as Nigerians are, they have not been able to help in the development of entrepreneurship in Nigeria. Inspite of government efforts to promote entrepreneurship in Nigeria Dango (2010) Musa & Tanko (2011), Shehu and Dosumu (2011) Jaja (2014), Agbara-Aka (2015), (Hamilton (2018) Iyayi (2012), revealed that the growth rate of entrepreneurship in Nigeria has been very slow, failure and even death has been quite common. This scenario contrast sharply with the tremendous entrepreneurial success recorded in Europe, Asia and America. Dangu (2016), Sanusi, (2017) Agbatu (2011) and posited that the most fundamental and logical cause of the slow growth of entrepreneurial activities in Nigeria is lack of corporate innovation. Other factors that offered the slow rate of innovation and creativeness in Nigeria include lack of confidence, fear and anxiety, environment and bad management, over reliance on selfability and lack of planning as regards technological and innovativeness and creativity. Hence this study sought to investigate how creativity and innovation could be used to promote the development of entrepreneurial success in Nigeria.
- OBJECTIVE OF THE STUDY
The study has one objective which is sub-divided into specific and general objective; the specific objective is to examine the impact of organizational creativity and innovation on entrepreneurial success, the specific objectives are:
- To examine the impact of organizational creativity on the profitability of the organization
- To ascertain if there is any significant relationship between organizational creativity and entrepreneurial innovation in business organization
- To examine the effect of innovation on organizational profitability
- To proffer suggested solutions to the identified problem.
- RESEARCH QUESTIONS
The following research questions were formulated by the researcher to aid the completion of the study;
- Does organizational creativity has any impact on the profitability of the organization?
- Is there any significant relationship between organizational creativity and entrepreneurial innovation in business organization?
- Is there any positive effect of innovation on organizational profitability?
- RESEARCH HYPOTHESES
The following research hypotheses were formulated in null and alternate form by the researcher
H0: There is no significant relationship between organizational creativity and entrepreneurial innovation in business organization
H1: There is a significant relationship between organizational creativity and entrepreneurial innovation in business organization.
H0: There is no positive effect of innovation on organizational profitability.
H2: There is a positive effect of innovation on organizational profitability.
- SIGNIFICANCE OF THE STUDY
It is believed that at the completion of the study, the findings will be of great importance to business managers as the study seek to explore the importance of creativity on organizational success, the study will also be of great importance to entrepreneur and potential entrepreneur as the study stress on the need for innovation and creativity as a yard stick to the success of and entrepreneur. The study will also be of great importance to researchers who intend to embark on a study in a similar topic as the study will serve as a pathfinder to further studies. Finally, the study will be of significance to academia’s, students, teachers, researcher, lecturers and the general public as the study will contribute to the pool of existing literature on the subject matter and also contribute to knowledge.
- SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers the impact of organizational creativity and innovation on entrepreneurial success. The study focused on the owners, staff and management of small and medium scale enterprise in the study area. But in the course of the study, there are some factors that limit the scope of the study:
AVAILABILITY OF RESEARCH MATERIAL: The research materials available to the researcher at the time of this study was insufficient, thereby limiting the study.
Time: the time at the disposal of the researcher which was allocated for the study was a major limitation as the researcher had to combine other academic activities with the study.
Finance: finance was also a limitation to the scope of the study, as the available resources was not sufficient to widen the scope of the study to all sector of the economy.
1.8 OPERATIONAL DEFINITION OF TERMS
Impact: impact is defined as the action of one object coming forcibly into contact with another, or a marked effect or influence.
Organization: An organization or organization is an entity comprising multiple people, such as an institution or an association, which has a collective goal and is linked to an external environment
Creativity: Creativity is a phenomenon whereby something new and somehow valuable is formed. The created item may be intangible or a physical object.
Innovation: Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs.
Entrepreneurial: entrepreneurial is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.
1.9 ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows Chapter one is concern with the introduction, which consist of the (overview, of the study), statement of problem, objectives of the study, research question, significance or the study, research methodology, definition of terms and historical background of the study. Chapter two highlight the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.