Abstract
In an advancing project-based global economy, the ability to leverage innovation, and the adoption of disruptive technologies are critical for product and process innovation success. This study makes the initial attempt to examine the effects of CEO transformational leadership (CTL), project management best practices (PMBP), and project management technology quotient (PMTQ) on multi-dimensional innovation success. Drawing on data of 261 practitioners in the information and communications technology industry in South Korea, the hypothesized relationships were tested using higher-order partial least squares structural equation modeling (PLS-SEM). The study finds supportive evidence on the positive effects of CTL, PMBP, and PMTQ on innovation success. Moreover, PMBP and PMTQ demonstrated a significant moderating influence on the relationship between CTL and innovation success. Besides the development and validation of a new PMTQ scale, the study findings offer novel theoretical predictions, methodological contributions, and implications for practitioners to mitigate the challenges of successful innovations.
Highlights
The rampant failures of innovation-based projects (e.g., Apple Newton, Microsoft’s Zune, and Amazon’s Fire Phone, etc.) haunt global companies when they undertake new project investment decisions [1,2]
To the best of the author’s knowledge, there has been no research so far that has ‘individually or collectively’ examined these factors to measure innovation success, especially in project-based environments. Addressing this potential research gap, the main purpose of this study is to examine the effects of chief executive officers (CEOs) transformational leadership (CTL), project management best practices (PMBP), and project management technology quotient (PMTQ)
We argue that CTL plays a key role in innovation success in an organization whereas PMBP and PMTQ moderate this relationship
Summary
The rampant failures of innovation-based projects (e.g., Apple Newton, Microsoft’s Zune, and Amazon’s Fire Phone, etc.) haunt global companies when they undertake new project investment decisions [1,2]. Innovation requires firms to explore new ways of operating and embracing best management practices [3,4], besides adopting emerging technologies that serve as a conduit for modern businesses [5]. The firm’s readiness to innovate and speed to market requires them to flesh out a technology-driven project charter in order to manage a highly dynamic and volatile business environment [1]. Global firms continue to significantly risk almost 12% of their valuable assets due to their underperforming projects that fail to adopt out-of-the-box management approaches, cutting edge skills, and disruptive
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