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Impact of Strategic Orientation Dimensions on New Product Development in Agro-based Nigerian Firms

Author

Listed:
  • Ibidunni Ayodotun Stephen

    (Covenant University - Nigeria)

  • Falola Hezekiah Olubusayo

    (Covenant University - Nigeria)

Abstract

This study explores the impact of strategic orientation dimensions on new product development capability of firms in the agro-business industry. The study based on questionnaires administered to selected agro-based firms in Lagos and Ogun states (Nigeria) utilized descriptive statistics, Pearson’s correlation to analyze the data obtained for the study. Results of data analysis showed that there exist positive relationship between strategic orientation dimensions and new product development. However, aggressiveness, analysis and riskiness dimension were found not to have any effect on new product development. The study recommends that the adoption of appropriate strategic orientation by agro-based firms to enhance their intentions of developing new products can aid constant innovations and engagement in research and development that result in designing products that will satisfy customer needs.

Suggested Citation

  • Ibidunni Ayodotun Stephen & Falola Hezekiah Olubusayo, 2013. "Impact of Strategic Orientation Dimensions on New Product Development in Agro-based Nigerian Firms," Economics and Management Research Projects: An International Journal, Open Access International Journals, vol. 3(1), pages 1-8, December.
    • Handle: RePEc:por:emrpij:v:3:y:2013:i:1:p:1-8
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    More about this item

    Keywords

    Strategic Orientation; Strategic Orientation dimensions; New product development; Agro-based firms; Strategy;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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