Abstract
- Goal: the main purpose of the present study was to investigate the impact of process and product innovation strategies on business performance due to the dynamic environmental mediator role.
 - Design / Methodology / Approach: The research method was based on purpose of applied research and in terms of data collection and analysis method was survey-correlation. The statistical population of this study consisted of 36 managers of Iranian banking industry. Questionnaires were used for data collection. Structural equation modeling was used to analyze the data.
 - Results: the results showed that process and product innovation strategies have a positive and significant effect on business performance. Also, Sobel test results indicated that at 95% confidence level, process and product innovation strategies through dynamic mediator variable. Environment has a positive and significant impact on business performance.
 - Limitations of the investigation: One of the limitations of the present study was the existence of different views on the topic of research among the members of the statistical community can influence the results of the research to some extent.
 - Practical implications: The research findings can be used to improve the business performance of companies active in the banking industry through the implementation of innovation strategies.
 - Originality / Value: The product innovation strategies are more visible than process innovation strategies so that the customers can easily feel their presence and this kind of innovation creates a situation where the organization can create a new market for its business.
Highlights
Environmental uncertainty, competition, complexity, globalization, and process and technology changes in international markets play a major role in an organization's performance, while the most important concern for organizations is to formulate and implement strategies that can guarantee the performance of organizations in the competitive conditions of international markets (Felipe et al, 2020)
The results of the first hypothesis testing revealed that the process innovation strategy has a positive and significant effect on the environmental dynamism and the process innovation strategy directly explains 0.779% of the changes related to the environmental dynamism
The results of the second hypothesis testing showed that the product innovation strategy has a positive and significant effect on the environmental dynamism and the product innovation strategy directly explains 0.556% of changes the changes related to the environmental dynamism
Summary
Environmental uncertainty, competition, complexity, globalization, and process and technology changes in international markets play a major role in an organization's performance, while the most important concern for organizations is to formulate and implement strategies that can guarantee the performance of organizations in the competitive conditions of international markets (Felipe et al, 2020). In the current competitive environment, the main concern of organizations, in the private sector, is to penetrate the market and maintain the competitive position competitiveness by means of innovation strategies, implementing them and the process of using these strategies in international markets for better business performance (Gallouj and Windrum, 2009). A review of research done in the field of organizational innovation shows that most studies on innovation have focused on understanding the impacts of inter-organizational factors such as the organization’s senior management and human resources management on the innovation (Murat Ar and Baki, 2011) This is due to the fact that innovation is seen as an organizationcontrolled activity and the impact of external factors such as environmental changes on innovation is rarely considered. Innovation has different dimensions that innovation in process is one of the important ones
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