4.3 Analysis in relation to the blended learning adoption framework
4.3.1 Strategy
The findings presented in Table 7 revealed that the variable was significant (coefficients B = .041, T= 3.661, P<0.05). This implies that market innovation management has a significant effect on financial performance of hotels in Adamawa State. Hence, we reject the null hypothesis that market innovation management has no significant effects on the financial performance of hotels in Yola, Adamawa State, and accept the alternative hypothesis.
Hypothesis 2: Process innovation management has no significant effects on the financial performance of the selected hotels in Yola, Adamawa State.
The findings presented in Table 7 revealed that the variable was significant (coefficients B = .379, T = 4.531, P<0.05). This implies that process innovation management has a significant effect on financial performance of hotels in Yola, Adamawa State. Hence, we reject the null hypothesis that process innovation management has no significant effects on the financial performance of hotels in Yola, Adamawa State, and accept the alternative hypothesis.
Summary of Major Findings
The following are the main findings of the study:
1. Market innovation management has a significant effect on the financial performance of the selected hotels in Yola, Adamawa State (the significant value p< 0.05).
2. Process innovation management has a significant effect on the financial performance of the selected hotels in Yola, Adamawa State. This relationship has significant value p< 0.05.
Discussion of Findings
The study assesses the effects of market innovation and process innovation on financial performance of some selected hotels in Yola, Adamawa State. Findings of the study indicated that all the independent variables used for the study were significant in affecting the financial
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performance of the selected hotels. According to Njogu (2014) innovation is perceived to have positive effects on potential sales of the company.
In the study, market innovation management has significant effects on the financial performance of the selected hotels in Yola, Adamawa State (the significant value p< 0.05).
This finding lends credence to the submissions of Mohd and Syamsuriana (2013) who revealed that innovation is a critical factor in today’s modern entrepreneurial activities.
Similarly, Adeyeyetolulope (2014) revealed that there is positive relationship between market innovation and organizational performance of the selected companies in Nigeria. Njogu (2014) shows that innovations are perceived to have positive effects on the future sales of the company.
Young and Seong (2016) the results first indicates that the level of firm diversity have effects on the amount of performance manifested by SMEs’ innovative activities. Second, when market dynamics is high, innovative activities play a more significant role in contributing to the revelation of performance after a certain time period has elapsed, whereas exploitative tasks are comparatively crucial in the early time periods.
Process innovation management has significant effects on the financial performance of the selected hotels in Yola, Adamawa State. This relationship has significant value p< 0.05. This finding is in line with the submission of Mohd and Syamsuriana (2013) who revealed that product innovation and process innovation influenced firm performance to a great extent, where the effects of the former was stronger than the latter. Also, Muli (2015) revealed that product innovation and process innovation affect firm performance significantly. The findings also reveal that process innovation is a critical factor in today’s entrepreneurial activities.
Conclusion and Recommendation
Based on the findings of the study, the study concludes that hotels in Adamawa state adopt innovation in order to survive in the current environment characterized by tough competition.
Also there is significant relationship between innovation management and the financial performance of Hotels in Yola Adamawa state.
The study recommends Hotel marketing department to put in more effort to identify customer’s needs, come up with innovation that focuses on those needs, communicate regularly using online technologies and measure success level in meeting the needs of customers. Hotels should also adopt new innovation processes that lead to better customer satisfaction and reduced operational cost in order to improve the margin of their profit.
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