DISRUPTIVE INNOVATION AND ECONOMIC SUSTAINABILITY OF FOOTWEAR MANUFACTURING FIRMS IN ABIA STATE

Abstract

The study examined disruptive innovation and economic sustainability of footwear manufacturing firms in Abia State. The objectives of the study were to: Determine the impact of technological innovation on the economic sustainability of footwear manufacturing firms in Abia State; examine the effect of market innovation on the economic sustainability of footwear manufacturing firms in Abia State. The study utilized a survey research design. A structured five (5) points likert scale questionnaire was used to obtain primary information from the respondents, while the secondary sources of data include journals, magazines, textbooks, and the internet. The population of the study comprised of the 1756 footwear manufacturers, while the sample sizes of 398 were derived from Taro Yamane's formula. 386 copies of questionnaires were duly completed and returned, showing 96% response rate. Research hypotheses were tested using multiple regressions. Findings from the study show that technological innovation has a significant effect on economic sustainability in footwear manufacturing firms in Abia State. Market innovation has no significant effect on economic sustainability in footwear manufacturing firms in Abia State. The study concludes that disruptive innovation has a significant positive effect on economic sustainability in footwear manufacturing firms in Abia State, Nigeria. The study recommends that Collaboration between footwear manufacturers and the government can lead to breakthrough innovations and help commercialize new technologies. Public-private partnerships can be particularly effective in this regard. Policymakers should balance regulation with the need for innovation, providing a clean and predictable regulatory environment that supports the development of new technologies and business models.