• Market innovation for economic diversification in Lagos: A resource-based perspective

    Author(s):

     Mercy M. Adeyeyea


    memoade4real@yahoo.com
    2024-08-01 06:10:51

    71 Downloads 162 Views

    Abstract

    This study investigates approaches to market innovation by Knowledge-Intensive Business Services (KIBS) for economic diversification in a developing economy, based on the Resource-Based View (RBV). A framework is built in which KIBS employed invention, extension, duplication and syntheses approaches for market innovation to diversify. A survey was carried out in Lagos, Nigeria with the sample consisting of 1788 KIBS and analysed using Principal Component Analysis, Pearson-Moment correlation and multiple linear regressions. The findings indicate that the four approaches are significantly related to market innovation; however, duplication is the most frequently used. The results would assist in framing programs to encourage market innovation by KIBS in developing economies.

    Keywords
    Economic diversification; D eveloping e conomies; Knowledge-Intensive Businesses (KIBS); Market innovation.

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