Abstract
Purpose The purpose of this paper is to assess the influence of innovation orientation dimensions on the performance of manufacturing small- and medium-sized enterprises (SMEs) in Ghana. Design/methodology/approach Probability sampling technique, particularly, simple random method, was used for this study. Approximately, 81% response rate was achieved from a total sample size of 346. Furthermore, PLS-SEM technique was used to determine the relationships among the study variables. Findings The result showed that market innovation significantly predicted SMEs’ performance. Conversely, non-significant positive nexus was established between process innovation and SMEs’ performance as well as product innovation and SMEs’ performance. Practical implications Based on the outcome, the stakeholders in the SME sector should aim at improving their market, products and process innovations. Originality/value Despite the importance attached to the employment of innovation in the SME sector by scholars in the extant literature, studies involving dimensions of innovation orientation on SMEs’ performance were not much seen in literature. This study enriched literature by determining the relationships between the innovation orientation dimensions and SMEs’ performance.
Highlights
The presence of competition in the modern-day business environment has been a factor compelling small- and medium-sized enterprises (SMEs) to look for an imaginative and more improved ways to survive (Casals, 2011)
The partial least squares (PLS)-SEM’s models were assessed and the results were captured in this study
Three hypotheses: (H1) process innovation is positively and significantly related to performance of manufacturing SMEs, (H2) product innovation is positively and significantly related to performance of manufacturing SMEs and (H3) market innovation is positively and significantly related to performance of manufacturing SMEs were formulated for that purpose
Summary
The presence of competition in the modern-day business environment has been a factor compelling small- and medium-sized enterprises (SMEs) to look for an imaginative and more improved ways to survive (Casals, 2011). SMEs, which fail to address this developmental trend happening in the marketplace, would soon see retrogression in their performances (Aksoy, 2017). SMEs must enhance their competitive position by designing, producing and marketing products that are unique from rivals’ offering. The full terms of this licence maybe seen at http://creativecommons.org/licences/by/4.0/legalcode
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