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EFFECT OF INNOVATION ON THE PERFORMANCE OF SMES ORGANIZATIONS IN NIGERIA
Abstract
This study investigates how innovation affects business performance in small and medium-sized enterprises (SMEs) in an up-and-coming market, like Nigeria. Data was collected from 200 respondents of six SMEs companies based in Nigeria. Innovation was measured using the OECD Oslo scale (2005). The study demonstrated that there is a high correlation among factors used to measure innovation. And secondly, innovation was found to influence business performance.
Keywords Innovation, Small and medium enterprises, Firm’s performance