New product committee and performance of manufacturing companies in Nigeria

The Nigerian manufacturing sector is strategically relevant in creating new products. However, some elements impact the effectiveness and efficiency of these committees, including issues with cross-functional integration, resistance to change, legal and compliance issues, fluctuating customer behaviour and lack of market knowledge. Hence, this research's specific objectives were: to investigate the influence of new product decision-making process on the performance of manufacturing companie;s and the role of leadership and governance in the performance of manufacturing companies in Ogun state, Nigeria. A cross-sectional survey research design was adopted to collect data from the respondents randomly and successfully. The study's population consisted of product managers from three hundred and seventy-four (374) manufacturing companies in Ogun state as provided by Ogun state environmental protection agencies, with a sample size of 193 computed using the formula of Taro Yamane (1967). Multiple linear regression analysis was used to analyse data using IBM-SPSS version 27.0. The findings indicated that the decision-making process significantly impacts Manufacturing companies in Ogun State, with (β = .154, t = 2.813, p = .005). Also, it was revealed that leadership and governance significantly impact the performance of Manufacturing companies in Ogun State, with (β = .683, t = 12.474, p = .000). It was concluded therefore that new product development committee indeed affect organizational performance positively. Hence, it was recommended that it's imperative to establish robust product development committees that are characterized with state-of-the-art decision-making processes and the right leadership and governance style to drive cross-functional teams, and effectively achieve organisational goals.