Innovative management practices and firm performance: a case of telecom. Firms in south-east, nigeria

Abstract

The study explored the effect of innovative management practices (IMP) on performance of telecom firms in South-East Nigeria. The specific objectives are to determine the effects of value creation, hi-tech adaptability, strategic leadership, cultural change and industrial best practices on organizational performance. Methodologically, a cross-sectional survey research design was used on a sample population of management and staff of selected telecom firms of MTN Nigeria, GLOBALCOM and Airtel Nigeria. Data for the study were collected with the aid of a well-structured questionnaire instrument. Krejcie and Morgan-K & M table was used to determine the sample size of two hundred and thirty-four (234) and Bowley's formula was used to apportion the samples to each organization via a stratified sampling technique. The data were analyzed using Pearson Correlation and regression analysis. Findings revealed that value creation has significant effect on organizational performance -ORGP with (β= .347, P =.000 <.05), Hi-tech adaptability has significant effect (β= .124, P =.001 <.05) along with strategic leadership (β= .107, P =.005 <.05). Also Cultural change and industrial best practices with (β= .456, P =.000 <.05) and (β= .116, P =.001 < 05) respectively are significant predictors of ORGP. The study concluded that Innovation management practices which includes changes in the ‘how’ and ‘what’ of tasks supervisors implement in preparing guidelines, creating resolutions, managing events, and encouraging individuals are reflective of innovation management protocols.  Recommendations are to the effect that enterprise leaders should introduce hi-tech adaptability, invest in novel technologies, and provide technical training to their personnel in order to improve employees’ performance. Finally, focused firms in the industry should try to implement innovative strategies to create competitive edge. The study contributed to knowledge by demonstrating that workplaces that foster a culture of innovation generally should subscribe to the belief that innovation is not the province of top leadership but can come from anyone in the organization.