Vol. 1 No. 1 (2023)
Articles

INNOVATION CULTURE AND SURVIVAL OF SMALL AND MEDIUM SCALE ENTERPRISES IN RIVERS STATE

Ikegbunam, Amaka Fidelia
University of Port Harcourt
Bio
Professor B. C. Onuoha
University of Port Harcourt
Bio

Published 2023-06-24

Keywords

  • Innovation Culture,
  • Creativity and Learning,
  • Market Orientation,
  • Survival

How to Cite

Ikegbunam, A. F., & Onuoha, B. C. (2023). INNOVATION CULTURE AND SURVIVAL OF SMALL AND MEDIUM SCALE ENTERPRISES IN RIVERS STATE. American Research Journal of Contemporary Issues, 1(1), 1-13. https://www.openjournals.ijaar.org/index.php/arjci/article/view/4

How to Cite

Ikegbunam, A. F., & Onuoha, B. C. (2023). INNOVATION CULTURE AND SURVIVAL OF SMALL AND MEDIUM SCALE ENTERPRISES IN RIVERS STATE. American Research Journal of Contemporary Issues, 1(1), 1-13. https://www.openjournals.ijaar.org/index.php/arjci/article/view/4

Abstract

This study examined the relationship between innovation culture and survival of small and medium scale enterprises in Rivers State. Innovation culture had two sub-constructs – creativity and learning and market orientation. The cross-sectional research design was adopted in the study. A total of one hundred and fifteen (115) owners, managers and supervisors of event management companies in Port Harcourt and Obio/Akpor Local Government Areas, constitute the population of the study. The research instrument is a well-structured, close ended questionnaire administered to the respondents. Upon distribution of the questionnaire, ninety-six (96) owners, managers and supervisors returned theirs, representing a response rate of 83.5%. Pearson Product Moment Correlation Coefficient was used to test the hypotheses, and the outcomes revealed that there is a significant relationship between innovation culture and survival of SMEs. Precisely, the results showed that creativity and learning, as well as market orientation have significant correlations with the survival of SMEs in Rivers State. Consequently, it was concluded that innovation culture significantly boosts the chances of small and medium scale enterprises to survive and remain as a going concern. On that premise, it is recommended that the owners, managers and supervisors of event management companies should: provide their workers more chances for personal growth and development; doing so has been shown to boost innovation and creativity in the workplace, leading to the creation of more and better goods and services; and adopt an orientation that is driven by the market in order to boost the chances of their enterprises surviving in a market that is very competitive.

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