scholarly journals Innovative Strategies and the Performance of Savings and Credit Cooperatives in Nyeri County, Kenya

2019 ◽  
Vol 3 (VI) ◽  
pp. 216-234
Author(s):  
Nahashon Mung’ora Muriuki ◽  
David Kiiru
Keyword(s):  
Product Innovation ◽  
Structural Changes ◽  
Organizational Innovation ◽  
Banking Industry ◽  
Process Innovation ◽  
Primary Data ◽  
Reverse Causality ◽  
Innovative Strategies ◽  
Marketing Innovation ◽  
Independent Variables

Reforms in banking industry have brought about many structural changes in the sector and encouraged competition. As a result, financial institutions like SACCOs have adopted competitive strategies including innovation strategies. Despite the recognized importance of financial innovation and an extensive descriptive literature, there have been surprisingly few empirical studies. This situation has denied SACCOs the much needed information regarding this important area of financial innovations sometimes leading to reverse causality in the innovation-financial performance relationship. The purpose of this study was to investigate innovative strategies and the performance of SACCOs in Nyeri County, Kenya. The study was guided by the following objectives: to establish how product innovation influences the performance, to assess the influence of organizational innovation on the performance, to determine the influence of process innovation on the performance of SACCOs, and to find out how marketing innovation affect the performance of SACCOs. The study utilized descriptive research design. It was carried out as a Census among the 6 licensed SACCOs in Nyeri County. The main instruments for primary data collection were questionnaires which consisted of structured and unstructured questions. The data was then analyzed using descriptive statistics and inferential statistics. Multiple regression was done to determine the relationship between the dependent and independent variables. The study findings were presented in tables and charts. Based on the findings of the study, it was concluded that the four independent variables (product innovation, organizational innovation, process innovation and marketing innovation) were important predictors of performance of SACCOs since each was statistically significant. The findings showed a positive correlation between the independent variables and the dependent variable. The study recommends that SACCOs should find creative ways of adopting and implementing product innovation but within the rules and guidelines of the banking industry. Organizational innovation could be improved through the human resource department getting better ways of freedom and autonomy among the employees. The services within the financial intermediaries in the SACCO should also be improved to become more helpful in facilitating the needs of the customers.

An Investigation of the Four Dimensions of Innovation in Small Scale Firms in Lagos State, Nigeria

2013 ◽  
Vol 5 (2) ◽  
pp. 113-118 ◽  
Author(s):  
Sunday Amiolemen ◽  
Olutunde Babalola ◽  
Stephen Adegbite ◽  
Idowu Ologeh ◽  
Olapeju Adekola ◽  
...  
Keyword(s):  
New Product Development ◽  
Product Innovation ◽  
Small Firms ◽  
Organizational Innovation ◽  
Process Innovation ◽  
Manufacturing Firms ◽  
Small Scale ◽  
Four Dimensions ◽  
Marketing Innovation ◽  
Lagos State

The paper examined the dimensions of innovation in small scale manufacturing firms with a view to understanding the interaction and relationship among product innovation, process innovation, organizational innovation, and marketing innovation. It further determines the relationship that exists between sales turnover and the four dimensions of innovation. Forty-six small manufacturing firms were sampled across the 4 major small scale Industrial Estates in Lagos State. The paper observed that these small firms engaged mainly in process innovation. The correlation analysis revealed a significant relationship between marketing and process innovation (r = 0.51; p<0.01) while there is no causality between product and process innovation (r = 0.31; p<0.05); product innovation and organizational innovation (r = 0.22; p<0.05); product innovation and marketing innovation (r = 0.11; p<0.05); and process and organizational innovation (r = 0.27; p<0.05) in these firms. The paper concludes that these firms are solely interested in upgrading and renewal of products, improving new methods of production, supply and distribution. The paper finally submitted that the observed trend is not unconnected with poor R&D initiative between small firms and research institutions, poor technological innovation capability of firms, and poor linkages/collaboration among stakeholder on new product development.

Increasing the competitiveness of Rural Banks through an innovation approach in Bogor District

2020 ◽  
Vol 5 (02) ◽  
pp. 129
Author(s):  
Dimas Ari Darmantyo ◽  
Ratno Ratno ◽  
Yustiana Wardhani
Keyword(s):  
Product Innovation ◽  
Structural Equation ◽  
Business Performance ◽  
Organizational Innovation ◽  
Innovation Process ◽  
Process Innovation ◽  
Positive Influence ◽  
Community Services ◽  
Small Community ◽  
Marketing Innovation

Competition in the banking world in increasing the value of its assets is getting tighter.The presence of financial technology adds to the tight competition in the banking world. Rural Banks (BPR) which focuses on small community services and MSMEs must innovate in order to survive in the banking industry. This research aims to find out if there is an influence of product innovation, process innovation, marketing innovation and organizational innovation on business performance, with accidental sampling method to obtain 150 samples of BPR Customers Bogor District, this research uses Structural Equation Modelling (SEM) method to analyze the data obtained. The results showed that, there is a positive influence of product innovation, process innovation, marketing innovation and organizational innovation on business performance. Product innovation variables have a stronger impact on business performance than marketing innovation, organizational innovation and process innovation. Keywords : Product Innovation, Process Innovation, Marketing Innovation and Business Performance

The Impact of Service Innovation on Tourist Satisfaction: Evidence from the Malaysian Tourism Industry

2014 ◽  
Vol 2 (3) ◽  
pp. 93-106
Author(s):  
Boon Liat Cheng
Keyword(s):  
Product Innovation ◽  
Service Innovation ◽  
Services Marketing ◽  
Process Innovation ◽  
Tourism Industry ◽  
Organisational Innovation ◽  
Marketing Innovation ◽  
Tourist Satisfaction ◽  
Body Of Knowledge ◽  
The Impact

Objective - This study proposed a model to test the impacts of the four dimensions of service innovation (i.e., process innovation, organisational innovation, marketing innovation and product innovation) on tourist satisfaction in the Malaysian tourism. Methodology/Technique - Measurement items for the dimensions of service innovation were developed through focus group interviews. A convenience sampling approach was adopted with the distribution of 400 questionnaires among local and foreign tourists. Statistical tolls in the Statistical Package for the Social Sciences (SPSS) were adopted to analyse the reliability of items and the hypothesised relationships in the proposed research model. Findings - The findings reveal that the respective dimensions of service innovation are significantly related to tourist satisfaction. These findings contribute to the services marketing body of knowledge by providing insight on the impact of service innovation on tourist satisfaction. Novelty - Limited studies have been done to examine the impact of service innovation dimensions on tourist satisfaction.The findings of this study contribute to the services marketing body of knowledge by providing insight on the impact of service innovation on tourist satisfaction. At the same time to address the practical implications by recommending relevant and effective service innovation strategies for the tourism industry in Malaysia. This knowledge is useful for benchmarking better service innovation practices among the industry practitioners. Type of Paper - Empirical Keywords: Service Innovation; Process Innovation; Organisational Innovation; Marketing Innovation; Product Innovation; Tourist Satisfaction

scholarly journals “IMPACT OF PRODUCT INNOVATION ON THE FINANCIAL PERFORMANCE OF THE SELECTED ORGANIZATIONS: A STUDY IN INDIAN CONTEXT”

2021 ◽  
Vol 58 (1) ◽  
pp. 5152-5163
Author(s):  
Dr. Naveen Nandal Et al.
Keyword(s):  
Financial Performance ◽  
Organizational Performance ◽  
Product Innovation ◽  
Organizational Innovation ◽  
Innovation Process ◽  
Process Innovation ◽  
Technology Selection ◽  
Marketing Performance ◽  
June July ◽  
The Impact

The purpose of this research is to analyze the determinants of product innovation and its impact on the financial performance of the organizations. Specifically, the study examines the impact of intelligence generation, intelligence dissemination, product-process innovation, marketing support of the product, quality, Dependability/ Delivery, Technology selection, Flexibility on the financial performance of the automobile companies. The models of product innovation provided the theoretical framework for the research. The model of product-process innovation provides the basis for further research. The first concept explains the link between organizations surroundings and its innovation targets (Utterback JM 1974, 1975) (Miller & Friesen, 1982)(Milling, 1996) whereas the second concept explains the connection between firm’s performance level i.e. innovative performance, financial performance, organizational performance and marketing performance and its innovation types i.e. product innovation, process innovation, organizational innovation and marketing innovation (Abernathy & Townseed, 1975) (Abernathy & Utterback, June/July 1978) (Gunday, et al., 2011). From these concepts evolved this study i.e. to evaluate the impact of product innovation on the financial performance of the organizations.

The impact of strategic competitive innovation on the financial performance of SMEs during COVID-19 pandemic period

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hani El Chaarani ◽  
Prof. Demetris Vrontis ◽  
Sam El Nemar ◽  
Zouhour El Abiad
Keyword(s):  
Financial Performance ◽  
Product Innovation ◽  
Organizational Innovation ◽  
Positive Impact ◽  
Multiple Regression Model ◽  
Analysis Model ◽  
Content Type ◽  
Essential Condition ◽  
Marketing Innovation ◽  
The Impact

Purpose The purpose of this paper is to reveal the impact of strategic competitive innovation types on the financial performance of SMEs during a very critical period: the COVID-19 pandemic. Four strategic competitive innovation types are considered in this study: marketing innovation, organizational innovation, product innovation and processes innovation. Design/methodology/approach To examine empirically the relationship between strategic competitiveness and financial performance, data were collected from a sample of 426 Lebanese SMEs belonging to seven different sectors. Findings The empirical findings of principle component analysis model (PCA) and multiple regression model (MR) reveal that the ability to innovate is essential to an SME’s survival during a crisis. The results of this study confirm the existence of a positive impact of marketing innovation and processes innovation on the financial performance of SMEs during the COVID-19 pandemic. Practical implications Moreover, results suggest that, in Lebanese SMEs, product innovation and organizational innovation do not have any impact on the financial performance during the pandemic period. Originality/value This research focused on strategic competitive innovation as a broadly considered essential condition for the survival of SMEs during the COVID-19 crises.

Innovationen, Wachstumsabsicht und Umsatzwachstum neuer Unternehmen

2019 ◽  
Vol 67 (4) ◽  
pp. 235-256
Author(s):  
Katherine Gundolf ◽  
Mickaël Géraudel ◽  
Beate Cesinger
Keyword(s):  
Data Analysis ◽  
Sample Size ◽  
Current Literature ◽  
Product Innovation ◽  
Organizational Innovation ◽  
Mediating Effects ◽  
Sales Revenue ◽  
Innovative Strategies ◽  
Revenue Growth ◽  
Final Sample

Zusammenfassung Obwohl die aktuelle Literatur nahelegt, dass sowohl die Wachstumsabsicht als auch innovative Strategien das Wachstum von Unternehmen beeinflussen, bleibt eine wichtige, aber theoretische und empirische Frage unbeantwortet: Ist Innovation der Grund f&#xFC;r Wachstum, ist die Absicht zu wachsen der Grund f&#xFC;r Wachstum oder ist Wachstum der Grund f&#xFC;r Innovation und die Ver&#xE4;nderung der Wachstumsabsicht? Um diese Frage &#xFC;ber Ursache(n) und Wirkung(en) zu kl&#xE4;ren, basiert vorliegende Studie auf einer repr&#xE4;sentativen Stichprobe von 20.472 jungen Unternehmen. Die Ergebnisse zeigen, dass&#xA0;Produktinnovationen und organisatorische Innovationen das Umsatzwachstum beeinflussen, w&#xE4;hrend dies f&#xFC;r Prozessinnovationen nicht der Fall ist. Dar&#xFC;ber hinaus zeigen unsere Ergebnisse, dass jede Art von Innovation die Wachstumsabsicht beeinflusst und Mediationseffekte von Innovationen vorliegen. Abstract Although current literature informs that both growth intention and innovative strategies determine venture growth, we remain with an important, yet unresolved theoretical and empirical question: is innovation the reason for growth, is intention the reason for growth or is growth the reason for innovation and changing growth intention? To untangle this question, about the gaps between cause(s) and effect(s) we undertake a data analysis on a final sample size of 20,472 young firms. We tested three types of innovation types: product, process and organizational innovation; and measured growth through sales revenue growth. Our results show that product innovation and organizational innovation affect sales revenues growth, while process innovation does not. Further, our results show that each type of innovation influences growth intention, and mediating effects of innovation occur.

Exploring the relationship among human resource flexibility, organizational innovation and adaptability culture

2016 ◽  
Vol 10 (4) ◽  
pp. 657-674 ◽  
Author(s):  
Ben-Roy Do ◽  
Pi-Wen Yeh ◽  
Jean Madsen
Keyword(s):  
Human Resource ◽  
Product Innovation ◽  
Organizational Innovation ◽  
Critical Role ◽  
Process Innovation ◽  
Equation Modeling ◽  
Smart Manufacturing ◽  
Innovative Technology ◽  
High Tech ◽  
Content Type

Purpose Human resource (HR) flexibility is a firm-level capability that consists of employee skill flexibility, employee behavior flexibility, and HR practice flexibility. HR flexibility allows organizations to adapt and be responsive to changes in their environments. Findings from this paper indicate that if the organization is highly innovative and has flexible HR policies, then that influences organizational culture, risk-taking and experimentation within a firm. This paper has also revealed that process innovation mediates between adaptability culture and product innovation. It also revealed that managers should emphasize processes to improve efficiency for resource exploitation. The lessons learned from process innovation activities indicated that having a strong knowledge base assists a firm in developing innovative technology such as automation for manufacturing, handling and testing or simply smart manufacturing. Design/methodology/approach Questionnaires were sent to employees at 23 Taiwanese companies in high-tech industries, where innovation is the key to their survival, and 293 valid surveys were collected. Structural equation modeling, (SEM) using IBM SPSS Amos, was used to test the hypotheses. Findings The results fully support the hypotheses that HR flexibility positively influences adaptability culture and contributes to organizational innovation. Furthermore, it was found that adaptability culture has a direct impact on process innovation and an indirect impact on product innovation through process innovation. Originality/value The critical role of HR flexibility and adaptability culture on organizational innovation in the high-tech sector were highlighted. The importance of HR flexibility is emphasized to provide managerial hints to top managers.

scholarly journals The effects of innovation on firm performance of supporting industries in Hanoi, Vietnam

2016 ◽  
Vol 9 (2) ◽  
pp. 413 ◽  
Author(s):  
Nham Tuan ◽  
Nguyen Nhan ◽  
Pham Giang ◽  
Nguyen Ngoc
Keyword(s):  
Firm Performance ◽  
Questionnaire Survey ◽  
Organizational Innovation ◽  
Primary Data ◽  
Reliability Factor ◽  
Innovative Performance ◽  
Marketing Innovation ◽  
Positive Effects ◽  
Innovation Activities ◽  
The Impact

Purpose: Innovation, including product, process, marketing, and organizational innovation within a firm, is considered as one of essential component for surviving and growing. These innovation activities create value and competitive advantages for successful organizations; therefore, understanding the organization’s overall innovation is the first and foremost to understand the role of innovation on firm performance. The objective of this research is to explore two parts: the impacts of innovation on the different aspect of innovation performance, then their effects to firm performance (production, market, and financial performance).Design/methodology/approach: This study uses primary data from questionnaire survey. The questionnaire involves 4 parts including general information, innovation activities; innovative performance, and firm performance. This research focuses on firms in supporting industries of mechanics, electronics, motorbike and automobile. These firms are in a list of companies (known as The Excellent Vietnamese Companies in Northern and Central Vietnam) established by JETRO and VCCI. There are 150 firms in this list. The questionnaire survey was administered to directors, CEO of those firms during April and May, 2014. Out of the 150 questionnaires sent out, 118 were valid, accounting for 78.7% of the true response rate. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper.Findings: The result demonstrated there are positive effects of process, marketing, and organizational innovations on firm performance in supporting firms. More specifically, the higher the level of innovation activities is, the greater the innovative performance is, which means the larger level of Process, organization and marketing innovation activities are, the higher level of innovative performance are likely to be. Secondly, the higher level of Process, organization and marketing innovative performance, the better level of firm performances is likely to be. To sum up, in order to improve the innovative and firm performance, those firms in supporting industry should highly concentrate on process, marketing, and organizational innovation activities, rather than product innovation activities.Originality/value: Initially, this study applies successfully the model which supposing innovation is a process, then clarifying innovation definition through the impact of innovation activities on innovative performances. Secondly, this research confirmed the positive impact of innovative performances on firm performances. It provided one more empirical evidence of the relationship between innovation and firm performance. For practitioners, organizational innovation and process innovation are more important factors affecting innovative performance and firm performance than product and marketing innovation. Therefore, enterprises should focus and mobilize resources to create improvement in organizational structure and manufacturing processes.

scholarly journals Innovation: The Driving Force for Entrepreneurial Performance among Small Informal Businesses

2021 ◽  
Vol 2 (2) ◽  
Author(s):  
Simbarashe Muparangi ◽  
Forbes Makudza
Keyword(s):  
Product Innovation ◽  
Business Performance ◽  
Innovation Process ◽  
Positive Association ◽  
Process Innovation ◽  
Marketing Innovation ◽  
Strong Positive Association ◽  
Medium Enterprises ◽  
Organisational Factors ◽  
The Impact

The purpose of the study was to assess the impact of innovation on business performance of informal small business traders in Zimbabwe. The Open Theory of Innovation informed the study whilst data for the study was gathered using structured questionnaires where 175 informal small to medium enterprises (SME) offered validated responses. A causal, quantitative approach was assumed and data was analyzed using SPSS 22 software to identify the association, strength and direction of innovation and innovation determinants on SME performance. The results revealed that innovation is determined by product, process, marketing and organisational factors. The study thus found out that product innovation, process innovation and marketing innovation have strong positive association with SME performance (P < 0.05). However, the study found an insignificant association between organisational innovation and SMEs performance. The study thus concluded that for informal SMEs to enhance their performance and graduate from being small entities to large corporates, they should embrace product innovation, process innovation and marketing innovation.

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