Financial Management Information Designs and Product Innovations Sustainability in Developing Economy-Using Ambidexterity Model

Adesola Adebayo Akande, Olusayo Rotimi-Bimbo and Toyon Ebitei Robert
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Adesola Adebayo Akande: Elizade University, Ondo State, Nigeria
Olusayo Rotimi-Bimbo: Elizade University, Ondo State, Nigeria
Toyon Ebitei Robert: Elizade University, Ondo State, Nigeria

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 7, 1784-1795

Abstract: This study used Ambidexterity Model to determine the correlation between Financial Management Information Designs (FMID) and product innovation sustainability (PIS) in developing nations using Nigeria as a case study. Data collected from 200 industrialists representing a range of characteristics from industrial sector were analyzed using regression analysis method. Variables considered (FMID) includes Management Information System (MIS), Customer Capability (CC), Information Quality (IQ), User Satisfaction (US), and Financial Security Privacy (FSP). The results indicates that FMID has a significant effect on product innovation sustainability in the developing countries, fostering collaboration and utilization of financial data, enabled agile decision-making, thereby establishing a favourable atmosphere for product innovations sustainability. The study concluded that obstacles that are often encountered includes resource scarcity and infrastructure deficiencies. Based on this, scholarly contribution situating the influence of FMID on product innovation sustainability in various socioeconomic contexts were made thereby offering practical recommendations for policymakers, top managers in manufacturing industries and improvement of strategies for designing a viable and sustainable financial management information, encourage international cooperation, and stimulate product innovation across various socioeconomic environments.

Date: 2024
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