TITLE:
The Impact of Creativity and Innovation on Entrepreneurship Development: Evidence from Nigeria
AUTHORS:
Nwokebuife Onyinyechi Juliana, Han Jun Hui, Mintah Clement, Ejiofor Nnaemeka Solomon, Ofori Kwame Elvis
KEYWORDS:
Creativity and Innovation, Entrepreneurship Development, Nigeria
JOURNAL NAME:
Open Journal of Business and Management,
Vol.9 No.4,
July
15,
2021
ABSTRACT: This paper seeks to investigate the relationship between creativity and
innovation on entrepreneurship development. Before doing so, we marry the
insights of several pieces of works of literature on creativity, innovation,
and entrepreneurship stemming from Joseph Schumpeter’s perspectives, theory,
and research on innovation and entrepreneurship development. A survey design
was adopted for the study. A valid sample of 257 impacted the study using
Yemane sample size determination formulae. The research employed the Ordinary
Least Square method and ANOVA Test for data analysis. In this study, we accept
hypotheses H2 and H5 due to their significant and mutual relationship on the measured
variable whereas H1, H3, and H4 were not accepted owing to their insignificant
impact on the independent variable (entrepreneurship development). The most
significant variables in this research are technological advancement and
strategy. The findings of this research are quite different from the
influential factors (Ali Al Qudah 2018). The two
measured significant variables can then be considered as major factors or
requirements for innovation and the success of a country’s entrepreneurship development. Having established this fact is a
call on policy support and frame- work-specific
not only for Nigeria but to any other country which is striving to achieve
economic success. Interestingly, the matrix analysis established a strong
relationship between creative thinking and innovative ability, as well as technological advancement although was
negatively estimated on entrepreneurship development. This indicates
that technological advancement is support for creativity and innovation.
However, its direct effect on entrepreneurship development was not
significantly estimated. This can further be investigated to ascertain reality.
Therefore, this is a call on policy support and framework not only for Nigeria
but to any other country which is striving to achieve economic success.