Moruf Akanni Adebakin PhD1
Chiangi Adudu Adudu PhD2
Abdulazeez Abioye Lawal PhD3
Gloria C. Alaneme PhD4
1,2Department of Business Administration & Management
Yaba College of Technology, Lagos, Nigeria
3Department of Business Administration
Lagos State University of Science of Technology Lagos,
4Distance Learning Institute, University of Lagos, Nigeria
*For correspondence, email: moruf.adebakin@yabatech.edu.ng
Abstract
This study investigates the influence of innovation on the sustainability of family-owned businesses in Nigeria, focusing on the moderating role of competitive intelligence (CI). Utilizing theories such as the resource-based view and dynamic capabilities, the research examines how these businesses can leverage innovation for long-term sustainability. A crosssectional survey involving 237 employees from 25 family businesses was conducted, employing multiple regression analysis to test the hypotheses.The findings reveal a positive relationship between innovation and sustainability, indicating that family-owned businesses can enhance their sustainability by adopting innovative practices. Additionally, competitive intelligence is shown to strengthen this relationship, allowing firms to adapt more effectively to market dynamics. The study emphasizes the importance of integrating business agility and strategic planning as essential components for achieving sustainable outcomes.Addressing a significant gap in existing literature, this research provides valuable insights into how family enterprises can utilize CI to maximize the benefits of innovation for sustainable growth. It highlights the critical need for these businesses to innovate responsibly and strategically to enhance their competitive advantage. The study concludes with prioritized recommendations for family enterprises and policymakers to foster sustainable practices aligned with global sustainability goals
Keywords: Business Agility, Competitive Intelligence, Family-owned businesses, Innovation, Sustainability.