INNOVATION MANAGEMENT AND ORGANIZATIONAL PERFORMANCE OF COOPERATIVE SOCIETIES IN EASTERN UGANDA. A CASE OF BUGISU COOPERATIVE UNION.
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Date
2024-09-09
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Abstract
The study investigated the relationship between innovation management and organizational performance in Bugisu Cooperative Union The study examined the relationship between technological advancements and organizational performance, leadership support, and risk management practices on organizational performance, yielding insightful results. The study employed a cross section survey design.it further used a sample size of 40 derived from a population of 45 by using Solvene formula. The data analysis demonstrated a substantial positive correlation between technological advancements and organizational performance, evidenced by a Pearson correlation coefficient of 0.450 (p = 0.007). This finding underscores that the integration of modern technology significantly boosts operational efficiency and productivity within the organization. Similarly, the analysis highlighted a positive relationship between leadership support and organizational performance, with a Pearson correlation coefficient of 0.292 (p = 0.012). This suggests that enhanced leadership support contributes to better performance outcomes by fostering a supportive and motivating environment for employees. Furthermore, the study revealed a noteworthy positive correlation between effective risk management practices and organizational performance, with a Pearson coefficient of 0.432 (p = 0.009). This indicates that robust risk management is crucial for maintaining and improving performance by mitigating potential threats and uncertainties. Overall, these findings emphasize the pivotal roles of technological advancement, leadership support, and risk management in optimizing organizational performance. To further enhance and sustain performance, it is recommended that the cooperative invest in cutting-edge technologies, implement comprehensive leadership training programs to build strong managerial capabilities, and reinforce risk management strategies to effectively address and manage potential risks.