Date of Conferral
Doctor of Business Administration (D.B.A.)
Jorge A. Gaytan
Business leaders not integrating innovation into their business practices exhibit lower financial performance. Business leaders integrating innovation into their business practices increase operational and financial performance. Grounded in the diffusion of innovation theory, the purpose of this qualitative multiple case study was to explore strategies business leaders in the Nigerian private sector use to effectively integrate innovation into their business practices to increase financial performance. Study participants were three business leaders who developed successful strategies to effectively integrate innovation into their business practices to increase financial performance. Data were collected from semistructured interviews, organizational documents, and artifacts. Thematic analysis was used to analyze the data. Four themes emerged: support from top management was critical for successful innovations, absorptive capacity of employees provided the knowledge for building capabilities, implementation of multiple innovations allowed business leaders to reconfigure resources into capabilities, and the deficient national innovation ecosystem inhibited innovations. A key recommendation is that firms adapt business models to avoid and optimize systemic risks to transform resources into capabilities. The implications for positive social change include the potential for business leaders to integrate innovation into their business practices to address social entrepreneurship by responding to the social needs of local communities.
Chukwudifu, John Nbanefo, "Strategies to Integrate Innovation Into Business Practices in the Nigerian Private Sector" (2021). Walden Dissertations and Doctoral Studies. 12300.