High Performance Organizations Framework as a Predictor of Firm Performance in the Insurance Industry in Ghana

Abstract

Changes in the business environment in general and in emerging countries, in particular, challenges business organizations to rethink new ways of managing performance in order to survive. This research applied an HPO framework to find out the extent to which it explains performance in the insurance industry in Ghana. The study adopted a quantitative deductive approach and analyzed the link between the HPO framework and firm performance using multiple regression. The findings revealed that three out of the five HPO factors, namely continuous improvement and renewal, and workforce quality and long-term orientation have positive influences on firm performance. The findings have useful implications for managers of companies in emerging countries.