Open Innovation and Non-Financial Performance of Nigeria Breweries Plc, Ijebu-Ode
Abstract
This study examined the relationship between open innovation and the non-financial performance of Nigeria Breweries PLC, Ijebu-Ode. Specifically, it analyzed the impact of inbound, outbound, and coupled open innovation on the company’s performance. A descriptive survey research design was employed, targeting all staff members, with a sample size of 2,305 employees. The findings indicated that open innovation significantly enhanced non-financial performance. Inbound open innovation positively influenced operational efficiency through the integration of external knowledge from suppliers, universities, and technology firms. Outbound innovation contributed to knowledge sharing and market expansion by fostering licensing agreements, strategic alliances, and industry collaborations. Additionally, coupled open innovation—integrating both internal and external collaboration—played a crucial role in driving performance improvements by strengthening cross-functional teams and training programs. The study concluded that open innovation is essential for sustaining competitiveness and recommended that Nigeria Breweries PLC should enhance internal-external alignment, foster employee engagement in innovation, and expand partnerships for market opportunities. Also, strengthening collaboration with research institutions, optimizing knowledge acquisition, and continuously assessing these strategies will ensure adaptability in an evolving market landscape.
Author
- Olufemi A. Ogunkoya
Department of Business Administration
Olabisi Onabanjo University, Ago-Iwoye, Ogun State
Email: ogunkoya.olufemi@oouagoiwoye.edu.ng