VOlUME 04 ISSUE 10 OCTOBER 2021
1Eyibio Okon Ikpe, 2Ehugbo Ikechukwu,3 Abam Koton Okri,
4 Barr. Obeten Obeten Okoi,5
Okorn Okorn Tabi
1,2,3,4Department Of Business and Management, Cross River State Institute of Technology and Management Ugep, Cross River State
5Department of Public Administration and Management, Cross River State Institute of Technology and Management Ugep, Cross River State
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ABSTRACT
This paper investigates the role of innovation strategy on performance of Femine Flour Mill Calabar. The study employed survey research design. The target respondent is the total employees of Femine flour mill Calabar which stand at 126 staff. Self administered questionnaire was used as the instrument for data collection. The instrument was subjected to content validity and test retest statistical analysis was used to ascertain the reliability of the instrument at 0.82. The study adopted simple random sampling technique and Taro Yamane’s statistical formula was used to determine the sample size at 96. Pearson Correlation was employed to establish the relationship between the two variables. Out of 96 distributed questionnaires 85 was properly filled and was used for the analysis. , the relationship between level of process innovation strategies, product innovation strategies and firm performance is positive at 0.419 and 0.419 respectively, indicating that an improvement in level of process innovation strategies and product innovation strategies will lead to increase in the firm performance on the average. The study concluded that marketability of our different segmented products and In-depth understanding of customer needs since is a critical source of competitive advantage. The study therefore, recommended that the management should conduct a comprehensive product analysis and also develop a product technology track in order to actively explore the potential market opportunities.
KEYWORDS:Innovation Strategy, Process Innovation, Product Innovation, Firm Performance
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