Effect of innovative practices on the growth of quantity surveying firms in Nigeria

Abstract

Purpose Although the overall impacts of innovation and innovative practices have been emphasized in recent years, the effect on the growth of firms in Nigeria have not been proven. Therefore, this study aims to investigate the effect of innovative practices on the growth of quantity surveying firms (QSFs) in Nigeria. Design/methodology/approach The study adopted the quantitative correlational research design in which a well-structured questionnaire was used to collect data from QSFs in South-West, Nigeria. The data were analyzed using descriptive statistics and multiple regression analysis to investigate the effect of innovative practices on the growth of QSFs. Findings The study reveals that there is a significant increase in the growth indices used for assessing QSFs, while all the innovation variables were found to be reliable. Based on the result of multiple regression analysis, the relationships were identified as follows: quantity surveying (QS) software influenced the size growth of QSFs; QS software and services affected client growth and profit growth; and all innovation practices impacted asset growth of QSFs. Practical implications Although the use of software tools has been found to negatively affect the size of QSFs and other growth indices, there is need for them to embrace innovative software applications for more quality service delivery. In addition, QSFs should formulate strategic objectives that will guide them in taking informed decisions for diversification. Originality/value The outcome of this study provides information and direction for innovation practices required to bring about the growth of QSFs.