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Innovation Adoption Determinants and Competitive Advantage of Selected SMEs in Ado-Ota, Ogun State, Nigeria( Vol-5,Issue-4,April 2019 ) |
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Author(s): Adeoye I.A., Agbawodikeizu J., Egwakhe A. J. |
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Keywords: |
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Innovation adoption, Competitive advantage, SMEs, Technological capability, Financial capability. |
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Abstract: |
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Rivalry within the Nigerian business environment has made the competitive atmosphere fierce, even amongst small and medium enterprise (SMEs). This has created a dilemma for firms desiring to remain relevant and has informed the urgent need to achieve sustained competitive advantage through innovation adoption. This paper investigated the effect of innovation adoption determinants on competitive advantage of SMEs in Ado-Ota local government area, Ogun State, Nigeria. Empirical and theoretical reviews were used to establish theeffect of innovation adoption on competitive advantage. Primary data collected with a pre-tested questionnaire administeredto four hundred and forty-six managerial cadre of selected SMEs was used. The regressed data results revealed that innovation adoption determinants exhibited positive significant effects on the competitive advantage of the surveyed selected SMEs. The paper recommends that owners-managers of SMEs should seek to selectively adopt innovation in order to gain competitive advantage and achieve sustainable superior performance over their rivals on the long-run. |
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