INNOVATION AND SUSTAINABILITY OF PLASTIC MANUFACTURING FIRMS IN OYO STATE, NIGERIA

Abstract

This study examined the relationship between innovation and sustainability of plastic manufacturing firms in Oyo State, Specifically, the study ascertained the relationship that exists between process innovation and operational sustainability, market innovation and financial sustainability of plastic manufacturing firms in Oyo State. Descriptive survey research design was employed with the use of structured questionnaire. This study was carried out in two plastic manufacturing firms in Oyo State which are Altak Plastic Limited and Black Horse Plastics Industry Limited, Ibadan. Five Hundred and Two (502) copies questionnaire were administered. The entire population was adopted as the sample size in this study. The data generated for this study were analysed with appropriate statistical techniques. The techniques included frequency, percentages and mean score. The Objectives were analysed using simple regression, where f-cal and f-tab with significance level 0.05 was used to test the hypotheses using Statistical Package for Social Sciences (SPSS) version 16. The study found that there is a significant positive relationship between innovation (Process and market) and sustainability (operational and financial) of plastic manufacturing firms in Oyo State, Nigeria.