Creativity and Innovation as Drivers of Entrepreneurial Success in the Out-of-Home Advertising Industry in Lagos, Nigeria
Year: 2024
Type: article
Study design: Observational Study
Abstract: This study investigates how creativity and innovation affect entrepreneurial success in Lagos’ Out-of-Home (OOH) advertising sector. Lagos’ fast urbanization and technological advancements have made it more and more necessary for advertising industry entrepreneurs to employ creative and innovative tactics to remain competitive. The study collected information from 126 respondents via questionnaires and interviews using a descriptive, cross-sectional survey approach. According to the findings, more than 94% of participants agreed that creativity and innovation are essential for operational success, competitive advantage, and corporate growth. The regression analysis affirmed that these characteristics and entrepreneurial performance had a statistically significant positive connection (β = 0.408, p < 0.000). Entrepreneurs continue to encounter obstacles like high innovation costs, regulatory constraints, and restricted access to creative people, even in the face of opportunities brought about by technology, market demand, and supporting policies. However, there are encouraging avenues for future innovation in the changing business climate. The study concludes that encouraging innovation and originality is crucial to maintaining business performance in Lagos’ OOH advertising industry. To get past obstacles, it suggests government assistance, legislation changes, and strategic investments. The results close a knowledge gap and provide useful information for advertising entrepreneurs and policymakers alike.
Authors: Sunday Bello, Ambrose Nnodim
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4415187695
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