IMPACT OF CORPORATE INNOVATION ON PERFORMANCE OF COSMETIC FIRMS IN SOUTH EAST NIGERIA

Abstract

This study examined on impact of corporate innovation on performance of cosmetics firms in South East Nigeria. The work was anchored on Resource Based Theory (RBT). In the methodology, the study employed descriptive survey research design and questionnaire served as the instrument of data collection. The data collected were presented in tables and analysed using Simple Percentage, Bar Chart, Mean Statistic Pearson Correlation Statistic through the aid of SPSS version 21.0. It was discovered that there is significant relationship between product innovation and customer patronage and there is significant relationship between technological innovation and customer retention. The work concludes that the achievement of high business performance depends on the extent of the implementation of corporate innovation in terms of products, technological and human resource innovation. Based on the findings, it was recommended that there is need for manufacturing companies to effectively focus on product innovation to achieve operational continuity. Furthermore, employees should be well engaged so that they can help the organisation in product innovation activities.