Unravelling the nexus between Strategic Innovation and Sustainable Organisational Success: A Study of Nigerian Technological Company

The study examined the relationship between strategic innovation (market trends and risk management) and organisational success. The objectives were to examine the influence of market trends and risk management strategies on organisational success, using Hugo Technologies as its area of study. The study leverage on the premise that identifying market trends enables organisations to predict shifts in demand and tailor their operations accordingly, while in risk management, risk awareness develops when all employees examine how their conducts and activities connect to the causes and consequences of potential risks to the organisation. The study utilised a well-structured questionnaire to obtain its primary data from a sample size of fifty (50) from the total number of employees at Hugo Technologies obtained through Taro Yamane sample size determination formular. The survey employed the quantitative research design approach to offer a thorough comprehension of strategic innovation practices and its effect on organisational success. Pearson Correlation Coefficient and Cronbach’s alpha reliability were used to confirm the extent of validity of the instrument. The research hypotheses were tested and analysed using descriptive statistics and inferential statistics such as correlation analysis, and percentage and mean. The result showed that strategic innovation in market trends and regulatory environment have impact on organisational success. Hence, the study concluded that for organisations to develop and maintain success, these various variables should be given urgent attention. The study further recommended that for organisations to have competitive edge, systems should be established within the organisation that would ensure the continual improvement of innovation efforts.

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