Factors Affecting the Success of Product/Service Innovation Among SMEs in Ghana: The Moderating Role of Functional Diversity and Strategic Alignment

John Ampontuah Kumah, Fred A. Yamoah () and Adnan ul Haque
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Fred A. Yamoah: Birkbeck, University of London
Adnan ul Haque: Yorkville University

A chapter in Corporate Management Ecosystem in Emerging Economies, 2023, pp 345-365 from Springer

Abstract: Abstract The study examined the factors that affect the success of product/service innovation among small and medium-scale enterprises (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 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 the competitive environment influenced innovation success negatively. The moderating role of functional diversity and strategic alignment played a significant role in the factors affecting the 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.

Keywords: Organizational capabilities; Competitive environment and product/service characteristics; Functional diversity and strategic alignment (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-41578-4_19

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DOI: 10.1007/978-3-031-41578-4_19

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