@article{CRSIJ25000020,
                  author = {Omotosho Michael Sunday},
                  title = {Strategies to Integrate Innovation into Business Policies in the Nigerian Private Sector},
                  journal = {Cosmo Research and Science International Journal},
                  year = {2025},
                  volume = {1},
                  number = {2},
                  pages = {57-71},
                  issn = {APPLIED},
                  url = {https://cosmorsij.com/published/CRSIJ25000020.pdf},
                  abstract = {The Nigerian private sector plays a vital role in driving economic growth and development. To remain competitive and sustainable, businesses must integrate innovation into their policies and practices. This article explores strategies for integrating innovation into business policies in the Nigerian private sector, highlighting the importance of innovation, challenges, and proposed solutions. According to the World Bank, the private sector contributes about 50% to Nigeria's GDP. The Nigerian private sector faces significant challenges in delivering effective and efficient services to citizens. Innovation is essential for driving growth, improving service delivery, and enhancing citizen satisfaction. This article explores strategies for integrating innovation into business policies in the Nigerian public sector. It highlights the importance of innovation, discusses challenges, and proposes strategies for successful integration, including leadership commitment, stakeholder engagement, and capacity building. Competitive forces and trending customer preferences within the contemporary global business environment pressure firms to adopt various innovation strategies to enable them to sustain competitive advantage and growth. Although companies in developed economies dominating global business activities have acquired the capabilities for implementing innovation over time, firms in developing economies have not achieved this goal. The reasons behind the lack of successful integration of innovation into business practices by firms in developing economies include the fact that their macro-environments have not been sufficiently supportive and their leaders have not learned from multinational business partners. Firms in developing economies need to adopt business approaches that will not only drive their performance but also support the inclusive growth of the economies in which they do business, imitating the practices of successful multinational firms.},
                  keywords = {Private Sector, Business Management, Business Innovation},
                  month = {September}
        }