Social Media Technologies, Organisation Cultural Intelligence, New Product Development-Speed and Performance of Energy-Drink Companies in Nigeria
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Date
2024-12
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Lead City University, Ibadan
Abstract
The global performance of energy-drink brands showed that the industry experienced growth valued at $98.8billion in 2023. However, the performance of energy-drink brand in Nigeria experienced decline which is suggestive of challenges associate with Organisation Cultural Intelligence (OCI), Social Media Technologies (SMT), and New
Product Development Speed (NPDS). Hence, this study assessed the interaction of SMT, OCI, NPDS and performance of Energy-drink brands in Nigeria. A cross-sectional survey research design was adopted. The population was 144 heads of strategic units in 9 energy- drink brands in Nigeria. Total enumeration method was adopted given the small study population. A validated questionnaire was used to collect data. The Cronbach’s alpha reliability coefficients for the constructs ranged from 0.733 to 0.917. The response rate of 90.3% was achieved. Data were analysed using descriptive and inferential statistics. Findings revealed that SMT had positive and significant effect on OCI (Adj.R2 =0.271, p=0.000, Q2 =0.167). Absorptive Capability (AC) had a positive and significant mediate the interaction between SMT and OCI (β= 0.211, t=3.464, p=0.000). OCI had positive and significant effect on NPDS (Adj. R2= 0.625, p=0.000, Q2 =0.366). Social capital (SC) had positive and significant moderating effect on the interaction between OCI and NPDS (β =0.109; p< 0.050, Q2=0.346). NPDS had positive and significant effect on performance (R2= 0.582, p=0.000, Q2=0.368). AC had positive and significant effect on performance of Energy-drink companies in Nigeria (Adj.R2=0.556, p=0.000, Q2 = 0.355). This study concluded that there was a statistically significant effect of SMT, OCI, NPDS on performance of Energy-drink companies in Nigeria. Further analysis revealed that AC and SC are significant intervening variables given their roles as a mediator and moderator respectively. Management of the energy-drink brands in Nigeria should renew their commitment to these internal-external contingences and take advantage of revenue generation potential of Absorptive Capabilities and Social Capital.
Keywords: Absorptive capacity, New product development-speed, Organisation cultural intelligence, Social capital, Social media technologies, Energy drink companies. Word Count: 305
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Keywords
Absorptive capacity, New product development-speed, Organisation cultural intelligence, Social capital, Social media technologies, Energy drink companies
Citation
Kate Turabia