The Effect of Strategic Flexibility on Innovation Performance of Quoted Pharmaceutical Companies in Nigeria
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 05
Abstract
The pharmaceutical industry is key to the survival of human race, but equally becoming increasingly susceptible to global disruptions. In Nigeria, records have shown that the industry is plagued with several problems, inclusive of low innovation performance, which may be due to lack of strategic flexibility in the face of increasing environment turbulence and intense competition. This study examined the effect of strategic flexibility on innovation performance of quoted pharmaceutical companies in Nigeria. The study adopted survey research design. The population comprised 642 management and senior staff employees of the six quoted pharmaceutical firms in Nigeria. Findings showed that strategic flexibility has positive significant effects on innovation performance (Adj. R2 = 0.425, p = 0.000, Q 2 = 0.409) of quoted pharmaceutical companies in Nigeria. Specifically, coordination flexibility (β = 0.124, t = 2.688), futurity (β = 0.191, t = 3.788), proactive flexibility (β = 0.197, t = 3.57), reactive flexibility (β = 0.232, t = 4.192), and resource flexibility (β = 0.103, t = 2.867) all have positive significant effects on innovation performance. The study concluded that strategic flexibility enhanced innovation performance of quoted pharmaceutical firms in Nigeria. The study recommended that management of quoted pharma companies in Nigeria should pay serious attention to strategic flexibility as organizational capability that can help enhance innovation capacity of the firms, in the face of increasing uncertainties in and unpredictability nature of the business environment.
Authors and Affiliations
Adedeji Abraham Adeleke, Emmanuel Ogbonna Ajike, Idowu Aderonke Nwankwere
Keywords
Related Articles
- EP ID EP727103
- DOI 10.47191/jefms/v6-i5-57
- Views 74
- Downloads 0
Debt Management and its Impact on Profitability and Company Value
This research was conducted to analyze debt management and its impact on profitability and company value. The number of companies or sample in this study was 75 companies. All research objects are non-financial companies...
The Effect of Strategic Leadership, Organizational Identification, Perceived Organizational Support, Communication on Readiness of Changes and the Impact on Commitment to Change
The purpose of this study is to analyze how the influence of leadership, organizational identification, perceived organizational support and communication adequacy on readiness for change and commitment to change and als...
The Dynamics of Real Earnings Management: Analyzing the Effects of ROA, Company Size, and Leverage in Indonesia's Manufacturing Sector
The objective of this research is to examine the impact of ROA, company size, and leverage on REM practices in Indonesia's manufacturing business sector from 2017 to 2021. This research examines financial report data fro...
Evaluation of the Success and Acceptance of Cloud Based-Accounting Information System in Msmes in Denpasar City
MSMEs can achieve maximum profits by utilizing technological developments in the form of cloud-based accounting. The effectiveness and efficiency of technology can be determined through the evaluation process of the acco...
The Impact of Smart Phone Applications on Improving Marketing Performance of Banking Services in Jordanian Commercial Banks
This study aimed to identify the impact of smart phone applications in its dimensions (ease of use, ease of access to customers, speed of information handling, and response) in improving the marketing performance of bank...