Impact of Strategic Orientation Dimensions on New Product Development in Agro-based Nigerian Firms
Ibidunni Ayodotun Stephen
Falola Hezekiah Olubusayo
Economics and Management Research Projects: An International Journal,
Strategic Orientation, Strategic Orientation dimensions, New product development, Agro-based firms, Strategy
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.