ABSTRACT
This study is to examine
impact of product innovation on the performance of manufacturing company with a
specific reference to Gwarnan Construction Company Dutse. The fundamental
objectives of the study are to identify the impact of project innovation on the
sales of Gwarnan Construction Company Dutse, to determine how project
innovation improve on the profit of the organization and to ascertain the level
of consumers’ satisfaction of the company. The primary and secondary sources of
data were used for data collection. Questionnaire was administered to 25 staff
of the reference organization. Data gathered from the respondents was analyzed
and the finding revealed that shortfall in sales and profit is responsible for
project innovation due to competitors’ market influence; that there is need to
increase company’s turnover and maximize profit; that consumers’ satisfaction
is enhanced; that shareholders fund should be maximized through increase in
rate of turnover and profit. It was concluded that the idea behind project
innovation does not end in the satisfaction of changing taste of the consumer.
It also helps to increase sales and profit of the organization. It was recommended
that companies should engage in it regular interval so as to cut down the cost
of value analysis strategy which is a segment of project innovation and
Companies should ensure that Research and Development Department as well as
other sources where new product strategic plan emanated from should be explored
not neglected.
TABLE OF CONTENTS
Title
Page…………………………………………………………………....................….i
Declaration
…………………………………………………………….….........…ii
Certification
………………………………………………………………....…iii
Dedication
……………………………………………………………….........................…..iv
Acknowledgement
……………………………………………………..…….....v
Abstract………………………………………………………………….....…...vii
Table
of contents…………………………………………………………........….viii
CHAPTER
ONE:
GENERAL
INTRODUCTION
1.1
Background of the Study…………………………………………………
1.2
Statement of the Problem …………………………………………………..
1.3 Aims and Objectives of the
Study……………………………………….....
1.4
Research Questions…………………………………………………………
1.5
Statement of Hypothesis……………………………………………………
1.6
Significance of the Study …………………………………………………..
1.7
Scope and limitation of the Study
…………………………………………
1.8
Definition of the key terms………………………………………………….
CHAPTER TWO:
LITERATURE REVIEW
2.0
Introduction…………………………………………………………………
2.1
Historical
Perspective……………………………………………………..
2.2.0
Conceptual Literature…………………………………………………….
2.2.1
Marketing Concept……………………………………………………….
2.2.2
Product Defines …………………………………………………………..
2.2.3
New Product Defined……………………………………………….……
2.2.4
Product
Classification……………………………………………….……
2.2.5
Innovation Define…………………………………………………….......
2.2.6
Project Life cycle…………………………………………………………
2.2.7 Project
Innovation ……………………………………………………….
2.2.8
Purpose of Project Innovation……………………………………………
2.2.9
Product Design……………………………………………………………
2.2.10
Product and Process Innovation in manufacturing company…………
2.2.11 Linking
Product and Process Innovation………………………………...
2.2.12
Creating Organizing and using Knowledge for Innovation……………
2.2.13 Impact of project
innovation on performance on manufacturing company………………………………………………………………………..
2.3 Theory of Innovation
…………………………………………………….
2.4 Empirical literature………………………………………………
2.5
Gap of the study……………………………………………………………
CHAPTER THREE:
RESEARCH METHODOLOGY
3.0
Introduction……………………………………………………………….
3.1
Study Area ………………………………………………………………..
3.2
Research Design ………………………………………………………….
3.3
Population of the study …………………………………………………..
3.4
Sample size and Sampling Techniques …………………………………..
3.5
Instrument for data collection
…………………………………………..
3.6 Administration of the
Instrument ………………………………………..
3.7 Method of data
analysis and presentation …………………………………
CHAPTER FOUR:
DATA PRESENTATION AND ANALYSIS OF DATA
4.1
Introduction ………………………………………………………………
4.2
Data Presentation …………………………………………………………
4.3
Summary of Findings ……………………………………………………..
4.4
Test of hypothesis………………………………………………………….
CHAPTER FIVE:
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1
Summary …………………………………………………………………
5.2
Conclusion ………………………………………………………………
5.3
Recommendations ………………………………………………………
5.4
Suggestion for further research………………………………………….
References
…………………………………………………………………...
Appendixes………………………………………………………………….
CHAPTER
ONE
GENERAL
INTRODUCTION
1.1
Background to the Study
Innovativeness is one of the fundamental instruments of
growth and strategies to enter new markets, to perform better in the current
market, to increase the market share and to provide the company with a competitive
edge. It is motivated by the increasing competition in global markets;
companies have started to grasp the importance of innovation, since swiftly
changing technologies and severe global competition rapidly erode the value
added of existing products and services. Thus, innovations constitute an
indispensable component of the corporate strategies for several reasons such as
to apply more productive manufacturing processes, to perform better in the
market, to seek positive reputation in customers’ perception and as a result to
gain sustainable competitive advantage. Particularly over the last two decades,
innovativeness has turned into an attractive area of study for those
researchers who tried to define, categorize and investigate its performance impacts,
especially due to its practical relevance. Innovations provide firms a
strategic orientation to overcome the problems they encounter while striving to
achieve sustainable competitive advantage. Technological oriented companies
have begun to recognize that a blend of innovation and marketing in their
overall.
1.2 Statement of the problem
Business ordinarily set up with some basic well defined set
of objective. These objectives, varied in nature often fail is to achieve goal
congruence which is the primary objective of the business owners and the
stakeholders particularly the decision owners, such as the members of Board of
Directors, the managers and chairman as the case may be. The effect and problem
of stele, static and stagnant corporate is never a little manner. Long standing
old and dying product brand in set array by organization described the poor
performance and potentials of such organization. Product innovation is a strong
and major instrument, which endeavors to save and selvage the organization
topically. Product innovation accord the organization great deal of benefit and
strength. Unfortunately, Nigerians menifectives found it difficult to stand
against their competitors from foreign countries. The local companies’ cannot
compete with the foreign counter part in reruns of product quality and other
areas of marketing capabilities. The resultant effect is while the local
industries performance is on the declines, the multinationals are booming.
Idris (2017) in his study the impact of project innovation on organization
performance in Nigeria, the founds not that product innovation on organization
performance was higher in the company when consumers perceived product
innovation as stronger, more favorable and more unique, he recommended that creative
quality should be maintained
continuously to develop
appropriate product and increased the organizational performance. Therefore there corralled with
the aim and objectives of these study to assess the impact of project
innovation on organizational performance in an organization.
1.3 Aim and objectives of the study
The main objective of the study is to examine the impact of
project innovation on the organizational performance. Case study of Gwarnan
Construction Company Dutse. Other specific objectives are:
1. To identified the impact of project innovation on business
sales of Gwarnan Construction Company Dutse.
2. To determine how project innovation improve the profit of
the organization of Gwarnan Construction Company Dutse.
3. To ascertain the level of consumer satisfaction of Gwarnan
Project as a result of project innovation.
1.4 Research Question
The research would address the following question:
1. What is the impact of project innovation on business sales
of Gwarnan Construction Company Dutse?
2. How project innovations improve on the profit of the
organization of Gwarnan Construction Company Dutse?
3. What is the level of consumer satisfaction of Gwarnan
Project?
1.5 Research hypothesis
The following hypothesis were formulated will alternative
form
Hypothesis 1
Ha: There is significant impact of project innovation on
business sale of Gwarnan Construction Company Dutse.
Ho: There is no significant impact of project innovation on
business sale of Gwarnan Construction Company Dutse.
Hypothesis 2
Ha2: Project innovation significantly improved profit of the
organization of Gwarnan Construction Company Dutse.
Ho2: Project innovation does not significantly improved
profit of the organization of Gwarnan Construction Company Dutse.
Hypothesis 3
Ha3: Project innovations have significant improve on level of
the consumer satisfaction.
Ho3: Project innovation does not have significant impact on
the level of consumer satisfaction.
Strategy is vitally important to the achievement of the
corporate performance of the firm. The corporate goal of a company could be
multifarious but the most common one that cut across many firms in a
competitive market is survival, which is achieved through increase in sales and
profits. To achieve this goal, the blend of product innovation and marketing
concept philosophy must be harmonized with the company’s global strategy.
1.6 Significance
of Study
The output of this project will be of great value to
manufacturing companies that are involved with technological products. Firms
will be able to apply market performance knowledge of innovative products in
designing their innovation funnel and not inhibit their innovative capacity by
using fixed rules and standard to all products. The analysis from market trend
can help to decide on the type of innovation strategy to embark upon, how to
effectively use product innovation as a distinct strategy.
1.7 Scope
and Limitation of the Study
The scope of this study is to examine the impact of project
innovation on the performance of manufacturing company. This study would be
restricted to Gwarnan Construction Company Dutse. The study will also be
strictly within the framework of the stated objectives. Some of the limitation
encountered in the course of the executing this research include,
noncooperation from some of the respondents and difficulty in retrieving some
of the questionnaires. Some problems were encountered in the course of
executing this research. Typically, non-co-operation from some of the
respondents and difficulty in retrieving some of the questionnaires.
1.8 Definition
of the key Terms
Impact: Measure of the tangible and intangible effects (Consequences) of one
things or entity’s action or influence upon another.
Project: A project is a temporary, unique, and well-defined endeavor undertaken
to achieve specific goals and objectives
Product: anything that can be offered to a market that might satisfy a want or
need.
Innovation: The process of translating an idea or invention into a good
or service that creates value or for which customers will pay.
Performance: The action or process of carrying out or accomplishing an
action, task, or function.
Manufacturing: The process of converting raw materials, components, or parts
into finished goods that meet a customer’s expectations or specification.
Company: A voluntary association formed and organized to carry on a business.
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