TECHNOLOGICAL INNOVATION AND FIRMS’ PERFORMANCE (A STUDY OF FIVE (5) SELECTED BANKS IN ABEOKUTA METROPOLIS)
Abstract
ABSTRACT
This research investigates the impact of technological innovation on the performance of
selected banks in Abeokuta Metropolis. The study examined how process innovation, product
innovation, and employee innovation influence organizational performance. Using a survey
research design, data were collected from 399 respondents across five banks: United Bank
for Africa, First Bank, Access Bank, Union Bank, and Guaranty Trust Bank. Multiple
regression analysis revealed that all three components of technological innovation have
significant positive effects on firm performance, with employee innovation contributing the
most. The findings underscore the importance of fostering a culture of innovation, developing
employee capabilities, and investing in new products and processes to enhance operational
efficiency, customer satisfaction, and competitiveness. The study recommends that banks
strengthen research and development activities, prioritize employee training, and adopt
innovative strategies to sustain growth and improve performance
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