Factors affecting the success of product/service innovation among SMEs in Ghana: the moderating role of functional diversity and strategic alignment
Kumah, J.A. and Yamoah, Fred and ul Haque, A. (2023) Factors affecting the success of product/service innovation among SMEs in Ghana: the moderating role of functional diversity and strategic alignment. In: Yamoah, Fred and ul Haque, A. (eds.) Corporate Management Ecosystem in Emerging Economies. Cham, Switzerland: Springer Nature Switzerland AG, pp. 345-365. ISBN 9783031415777.
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Abstract
The study examined the factors that affect the success of product/service innovation among SMEs in Ghana as well as the moderating role of functional diversity and strategic alignment in the relationship between the factors affecting product/service innovation success among SMEs in Ghana. A sample of five hundred (500) respondents involved in the innovation activities of their firms were drawn using a purposive sampling method. The reliability and validity of the constructs were met. The results showed that organizational capabilities and product/service characteristics were positively related to innovation success while competitive environment influenced innovation success negatively. The moderating role of functional diversity and strategic alignment played a significant role in the factors affecting innovation success relationship. Furthermore, the positive moderating role of strategic alignment in the relationship between innovation factors and the success of product/service innovation means that SMEs can align all their strategies, which gives them a competitive advantage. As a result of the findings, the study recommended the need for firms to strengthen the capabilities of the organization, capitalize on product/service characteristics and customize the implementation of best innovation practices in their own organization.
Metadata
| Item Type: | Book Section |
|---|---|
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Fred Yamoah |
| Date Deposited: | 25 Apr 2024 09:29 |
| Last Modified: | 26 Apr 2024 13:43 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/52735 |
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