1Agada, Franklin A, 2Dumani, Markjackson, 3Duke, Ebikela S., 4 Oguru, Foster A.
1,2,3,4Federal Polytechnics Ekowe, Bayelsa State, Nigeriahttps://doi.org/10.47191/jefms/v4-i7-03
Innovation in its modern meaning is "a new idea, creative thoughts, new imaginations in form of device or method". Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more effective products, processes, services, technologies. The aim of the paper is to give the view on innovation activities in small and medium enterprises (SMEs) sector in Bayelsa state. The paper is divided into two parts. Firstly, the paper is to evaluate situation in innovation activities conducted by small and medium enterprises in Bayelsa state, identifying the main barriers to develop innovation activities, formulate some recommendations on how to overcome these barriers. The second part of the paper is to present the importance of innovativeness, which is viewed as one of the prerequisites for successful innovation activities. Main findings revolve around the facts that product innovations are predominant in SMEs in Bayelsa state and that there is a significant impact of these on growth of firms‟ turnover, profitability and employment generation. And recommended that Prospective entrepreneurs given the resource constraints and weak/unstructured National Innovation Systems (NIS) that characterize developing economies, it makes sense to assume that SMEs therein would focus on incremental innovations and that these would have some positive impact on firm performance and students of entrepreneurship education should be exposed to different innovative schemes, Bayelsa state government should support small and medium enterprises innovation through grants and aid.
SMEs; Innovations; Innovation activities; Trend; Bayelsa; Nigeria.
1) Abereijo, I. A., Ilori, M. O., Taiwo, K. A. and Adegbite, S. A. (2007). Assessment of the capabilities for innovation by
small and medium industry in Nigeria. African Journal of Business Management, 1(8), 209-217.
2) Adegbite, S. A., Ilori, M. O., Irefin, I. A., Abereijo, I. O. and Aderemi, H. O. S. (2007). Evaluation of the impact of entrepreneurial characteristics on the performance of small-scale manufacturing industries in Nigeria. Journal of Asia entrepreneurship and sustainability. Retrieve from: http://findarticles.com/p/articles/mi_qa5499/is_200705/ai_n21302203/print; accessed April 28, 2020).
3) Aliyu M., & Julius A. (2015), Innovation among small and medium enterprises in Nigeria, Journal of Resourcefulness and Distinction, 11(1), 1-12.
4) Ajigu, A. N. (2005). The entrepreneur; Amuwo-odofin, Lagos: Betcy media.
5) Andy N. & Jasper H. (1998). Innovation and business performance: A literature review. The Judge institute of management studies University of Cambridge 15th.
6) Atkins, M. H. and Lowe, J.F. (1997). Sizing up the small firm: UK and Australian experience‟, International small business Journal, 15(3), 42–55.
7) Bala-Subrahmanya, M. H. (2006). Technological innovations in Indian small and medium Enterprises (SMEs) sector: does firm size matter? Int. J. innovation and learning, 3(5), 499–517.
8) Bala-Subrahmanya, M. H. (2005). 'Technological Innovations in Indian small enterprises: dimensions, intensity and implications', Int. J. technology management 30(1/2), 188 - 204.
9) Bologun, M. O. (2004). Developing entrepreneurial potential for strategic advantage in Nigeria, Journal of the Nigerian institute of management, 40(2), 45-57.
10) Cosh, A.D. and Hughes, A. (2000). Innovation activity and performance in SMEs in Cosh, A. D. and Hughes, A. (eds.) British enterprise in transition: Growth innovation and public policy in the small and medium sized enterprise sector 1994-1999 ESRC Centre for business research, Cambridge.
11) European Commission (1995), Green paper on innovation, Brussels. Innovation union: Retrieve from: http://ec.europa.eu/research/innovation
12) Forman, H. & Anala, U. (2011). Small enterprises as innovations: Shift from a low performer to high performer. International Journal of technology management. 8(3), 211-224.
13) Frankelius, P. (2009). "Questioning two myths in innovation literature". The Journal of high technology management research. 20(1), 40–51. doi: 10.1016/j.hitech.2009.02.002
14) Freeman, C. (1982), “The economics of industrial innovation”, London: Frances Pinter.
15) García-Muiña, F. E. & Navas-López, J. E. (2007). Explaining and measuring success in new business: The effect of technological capabilities on firm results. Technovation, 27 (2), 30–46.
16) Grant, M. R. (2005), Contemporary Strategy Analysis (5th ed) United Kingdom: Blackwell Publishing.
17) Hadjimanolis, A. (1999). Barriers to innovation for SMEs in a small less developed country (Cyprus). Technovation 19(1), 561-570.
18) Hadjimanolis, A. (2003). The Barriers approach to innovation. In: Shavinina, L. V. (Ed.), The international handbook on innovation. Elsevier Science, Oxford
19) Henderson, J. (2002). Building the rural economy with high-growth entrepreneurs. Economic review. 87(3), 45-70.
20) Ilori, M.O., Oke, J.S. & Sanni, S.A. (2000). Management of new product development in selected food companies in Nigeria. Technovation 20(6), 333–342.
21) Kanter, R. M. (1985). Supporting innovation and venture development in established companies. Journal of business venturing 1(1), 47-60.
22) Keizer, J. A., Dijkstra, L. & Halman, J. I. M. (2002). Explaining innovative efforts of SMEs. An exploratory survey among SMEs in the mechanical and electrical engineering sector in the Netherlands. Technovation 22(1), 1-13.
23) Kickul, J. & Gundry, L. (2002). Prospecting for strategic advantage: The proactive entrepreneurial personality and small firm innovation. Journal of small business management. 40(2), 85-97.
24) Maranville, S. (1992). "Entrepreneurship in the business curriculum". Journal of education for business. 68(1), 27–31. doi:10.1080/08832323.1992.10117582.
25) Merriam-webster.com. Merriam-Webster. “Innovation”. Retrieved from: https://en.wikipedia.org/wiki/Innovation#Definition
26) Motwani, J., Dandridge, T., Jiang, J. & Soderquist, K. (1999). Managing innovation in French small and medium-sized enterprises. Journal of small business management.37(2), 106-116.
27) Neu, W. A & Brown, S. W. (2005). Forming successful business-to-business services in goods-dominant firms. Journal of service research, 8(1), 3-17.
28) OECD, 2005, OECD SME and Entrepreneurship Outlook: 2005, Industry and services statistics, OECD Paris, page 17.
29) OECD, Oslo Manual (2005): Proposed Guidelines for Collecting and Interpreting Technological Innovation Data. Paris.
30) Oke, A., Burke, G. & Myers, A. (2004). Innovation types and their impact in UK SMEs. Cranfield University School of Management.
31) Oliver, N., Dewberry, E. and Dostaler, I. (2000). New product development benchmarks: The Japanese, North American and UK Consumer Electronic Industries. Judge Institute of Management Studies Working Paper 28/00.
32) Ottenbacher, M., & Gnoth, J. (2005). How to develop successful hospitality innovation. Cornell Hotel and restaurant administration Quarterly 46(2), 205-232.
33) Oyefuga, I. O., Siyanbola, W. O., Afolabi, O. O., Dada, A. D. & Egbetokun, A. A. (2008). SMEs funding: an assessment of an intervention scheme in Nigeria‟, World Review of entrepreneurship, management and sustainable development, 4(2/3), 233–245.
34) Oyelaran-Oyeyinka, B. (2003). "Innovation and learning by firms in Nigeria: The Role of Size, skills and ownership", International Journal of business and society, 4(1), 1-22.
35) Oyelaran-Oyeyinka, B. (2005). “Inter-Firm collaboration and competitive pressures: SMEs footwear clusters in Nigeria”, Int. J. Technology and Globalization, 1(2/4), 22-37.
36) Popadiuk, S. & Choo, C. W. (2006). Innovation and knowledge creation: How are these concepts related? International Journal of information management 26 (2), 302–312.
37) Ramachandran, V. (2002). An assessment of the private sector in Nigeria‟, Regional program on enterprise development, Africa private sector department, small and medium enterprise department, The World Bank Group, retrieve from: www.worldbank.org/documents/ICA005.pdf, accessed May 5, 2020.
38) Rizoni, A. (1991). Technological innovation and small firms: A Taxonomy. International Small Business Journal 9(3), 31-42.
39) Robert, B., & Tucker (2008). Driving growth through innovation: How leading firms are transforming their futures (2nd ed.). U.S: Berrette-Koehler Publishers.
40) Samuel A. (2019). Small business and entrepreneurship. Retried from: https://thenationonlineng.net/trend-will dominate-smes-sector/amp/
41) Samuels, J. M., Wilkes, F. M., & Brayshaw, R. E. (1997). Management of company finance (6th ed.). London: International Thomson business press.
42) Van de Ven, A. H. (1986). Central problems in the management of innovation. Management Science, 32, 590-607.