JOURNAL OF BUSINESS PRACTISE, ECONOMICS AND FINANCE

Abstract

The Food and Beverages industry in Nigeria, which contributes significantly to the nation's economy, faces operational inefficiencies and intense competition. This study examines the influence of Total Quality Management (TQM) practices specifically, process management, continuous innovation, and product design on the performance of Food and Beverages companies in Lagos State. Using a sample of 454 employees from Cadbury Nigeria Plc and Nestlé Nigeria Plc, data were collected through structured questionnaires and analysed using linear regression. The results revealed that process management significantly impacts profitability, explaining 85.1% of its variation (R² = 0.851, p < 0.05). Continuous innovation accounted for 80.5% of the variation in market share (R² = 0.805, p < 0.05), showing its critical role in competitive positioning. Additionally, product design influenced 83.1% of the variation in productivity (R² = 0.831, p < 0.05), highlighting the importance of product development in driving operational efficiency. These findings suggest that TQM practices are vital for enhancing profitability, market share, and productivity in Nigeria’s highly competitive Food and Beverages industry. Companies that invest in optimizing these practices can achieve greater operational sustainability and competitiveness.products that align with the financial constraints and risk profiles of lowincome populations, underscoring affordability, simplicity, and trust as core components. The findings contribute to the development of more inclusive financial services and offer policy recommendations to increase micro-insurance adoption in developing regions