ECONOMIC SUSTAINABILITY AND VIABILITY OF INDUSTRIAL GOODS MANUFACTURING FIRMS IN ABIA STATE, NIGERIA.
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Copyright (c) 2023 African Journal of Business and Economic Development
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This study was done out of the curiosity to restore confidence in customers through reinventing products that meet and satisfy their immediate needs, and also the need to develop employees technically and otherwise so that they can function effectively in their assigned jobs. The main purpose of this study was to examine the effect of economic sustainability on the viability of industrial goods (plastic) manufacturing firms in Abia state, Nigeria. The study made use of the survey research design method which allowed for the collection of primary data from the field via the use of a likert style questionnaire. The population of the study comprised of ten (10) plastic manufacturing firms in Abia State as provided by the Nigerian Directory, while the element of the population was made up of six hundred (600) employees of the plastic firms in Abia state. Due to the homogenous nature of the population, the stratified random sampling technique method was adopted and the population was grouped into different stratum. The validity of the research instrument was authenticated by experts in the field of economics and business, while the reliability of the research instrument was done using the cronbach alpha contained in the statistical package of social sciences (SPSS) version 23 which gave a coefficient of 0.822 which indicated a positive coefficient. The findings of this study revealed that product innovation has a positive significant effect on operating cash flow of industrial goods (plastic) firms; that employee development has a positive significant effect on employee satisfaction of industrial goods (plastic) manufacturing firms in Abia state, Nigeria. Based on the findings on this study, it was recommended that plastic firms should be more proactive by investing on research and development, so as to enable them innovate plastic products that are degradable, and instead of polluting our land and oceans, they will rather decompose and form nutrients for our soil, and also management of plastic firms can also choose to develop its employees’ through job rotation techniques, if it doesn’t have the resources to invite a human resource expert or it is not able to send its employees out to acquire the training.