Acta Universitatis Danubius. Œconomica, Vol 15, No 2 (2019)

Abstract

Abstract

Innovation has been at the heart of economic and social development. The rise of modern industrial powers in North America and Europe as well as the economic success of many recent developing countries were all based on rapid increases in the speed of technological process and managerial innovations. As such it is imperative for developing countries to focus on and understand the effective innovation policies as a means to promote public welfare and growth. The objectives of the study are to determine if Process Innovation has significant effect on Organisational Performance and also to examine if there is a significant relationship between Process Service Modification and Sales Volume. 114 copies of questionnaire were administered to NNPC Staffs-Ikoyi branch in Lagos State Nigeria to get primary data that treated and tested appropriate research questions and hypotheses accordingly. The study adopted survey method and Cronbach Alpha for test retest reliability. SPSS was also employed in testing the research hypothesis. The study found out that process innovation has a significant effect on organisational performance and there exist a significant relationship between service modification and sales volume. The study recommends that there should be clarified objectives with the process innovation project which helped to visualize a future layout and also a clear linkage between suppliers and uncertainty reduction in the process innovation must be observed which reduced uncertainties in process times for the current state and the future.