THE IMPACT OF TECHNOLOGICAL INNOVATION ON FIRM PERFORMANCE IN NIGERIA CONSOLIDATED BREWERIES PLC

• Published in: Modern Management Review (Online) Vol. 29; no. 1; pp. 31 - 42
• Main Authors: OGUNKOYA, Olufemi A., HASSAN, Banjo A., SOREMEKUN, Oluwatobi E., OGUNDELE, Moshood A.
• Format: Journal Article
• Language: English
• Published: Publishing House of Rzeszow University of Technology 25-03-2024
• Subjects: firm competitiveness; innovation; organizational performance; technological innovation; technological learning
• ISSN: 2300-6366; 2353-0758
• DOI: 10.7862/rz.2024.mmr.03

This research investigated the impact of technological innovation on firm performance. The study was conducted among employees of Nigeria Consolidated Breweries in Ijebu-Ode area of Ogun state. A sample size of one hundred and two (102) employees was purposively selected from Nigeria Consolidated Breweries in the study area. Primary data was employed for this study. Descriptive statistics analysis was employed to analyze the demographic factors of respondents. Results of this study revealed that there was significant positive effect of technological innovation on firm performance (R = 0.881, p < 0.005). Also, the findings of this study further revealed that technological learning had significant positive effect on firm performance (β = 0.654, p < 0.005). Based on the results, it was recommended that the management of the firm should adopt technological innovation as an essential ingredient of competitive advantage for new product development.