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Innovative Behaviour and Profitability in Family-Owned Businesses Post Pandemic: Empirical Investigation From Africa
Abstract
The post-pandemic business landscape in Africa is characterized by unprofitability and a lack of innovative behavior, which continues to generate public discussion, concerns, and scientific interest. This study aims to determine the association between innovative behaviour and the long-term profitability of family businesses with a representative sample of selected family businesses in Nigeria. Due to its economic significance in Africa, this study employed a survey method with the target population in Nigeria. The study concludes that innovative behaviour is a competitive behaviour that can increase profitability and ensure the long-term survival, performance, and sustainability, of family businesses in Africa. It is recommended that management, operators, and owner-managers increasingly consider incorporating innovative behaviours into strategic vision and plans to increase their profitability and competitive advantage, as it may be advantageous as a competitive differentiator.
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