Fostering firm performance through organizational creativity of Nigeria's Fintech industry

Abstract

Understanding how to come up with original ideas has become a top priority for CEOs in today's innovation-driven economy, as firms increasingly see creativity as a critical skill for surviving the ever-evolving business landscape. The study looked at the connection between company performance and organizational innovation. A verified structured questionnaire was distributed to 375 employees of the seven largest Fintech companies in Nigeria, out of a total workforce of 15,008 workers, using the survey research design. A statistical approach called multiple regression analysis was employed to examine the collected data. The results showed that although the association between organizational structure and company performance is good, it is not statistically significant (b=0.140, P=.081 <0.05). In contrast, the organizational resources industry has a positive and significant relationship with firm performance (b=0.364, P=.003 <0.05). Among other things, it was determined that organizational structure and organizational structure positively influenced creativity. The study's main recommendations are that leaders should effectively communicate the established vision to their subordinates so that they can take full responsibility and initiative for their jobs through the sharing of authority and that the socio-environmental context of the workplace should be equipped with the necessary facilities to make the atmosphere more enjoyable for employees. The study adds to the body of knowledge by validating the notion that creativity is an unmanageable concept, establishing a successful agreement on organizational creative initiatives in their business model, and demonstrating the entirety of organizational factors in creativity program implementation that influence business results.