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Assessing the Effectiveness of Innovation Management in the Hospitality Industry: A Study of Selected Hotels in South-East, Nigeria

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  • Magnus M. Ofondu

Abstract

This study focused on assessing the effectiveness of innovation management in the hospitality industry. The inability of the change managers of these hotels to meet their expected organizational goals even as they strive to inject something new to meet the ever-rising demand of their clients made this study so essential. To achieve this objective, both primary and secondary data were employed. From a given population of 966, a sample size of 283 was derived using the Taro Yamane’s formula. A survey research design was also employed, and the study proved to be valid and reliable given a content validity and a Cronbach alpha of 0.863. The techniques adopted in analyzing the data were both the descriptive and inferential statistics. Spearman Rank Correlation Coefficient was used in testing the hypotheses. The result of the findings reveals that there is a significant association between the extent of innovation at a given period and the performance of the firms; innovation management does significantly correlate to the growth of the firms. Based on these findings, the researcher concluded that innovation management in the hospitality industry is effective. The researcher therefore recommends among others that there should be a concrete organizational arrangement to improve on the practice of innovation as often as possible in order to enhance the performance of the organizations and be effective.

Suggested Citation

  • Magnus M. Ofondu, 2018. "Assessing the Effectiveness of Innovation Management in the Hospitality Industry: A Study of Selected Hotels in South-East, Nigeria," Business Management and Strategy, Macrothink Institute, vol. 9(1), pages 196-210, December.
    • Handle: RePEc:mth:bmsmti:v:9:y:2018:i:1:p:196-210
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    References listed on IDEAS

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    1. repec:cup:cbooks:9780511771576 is not listed on IDEAS
    2. Hee‐Jae Cho & Vladimir Pucik, 2005. "Relationship between innovativeness, quality, growth, profitability, and market value," Strategic Management Journal, Wiley Blackwell, vol. 26(6), pages 555-575, June.
    3. Easley,David & Kleinberg,Jon, 2010. "Networks, Crowds, and Markets," Cambridge Books, Cambridge University Press, number 9780521195331, November.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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