The Effect of Innovation Types on the Performance of Small and Medium-Sized Enterprises in the Sekondi-Takoradi Metropolis
Abstract
Innovativeness has been touted as one of the fundamental
instruments of growth strategies to enter new markets, to increase the
existing market share and to provide the company with a competitive
edge. Despite this acknowledgement, there is lack of research into how
innovation contributes to the performance of small and medium sized
enterprises. The aim of this study was to investigate the influence of
innovation on organisational performance of small and medium-sized
enterprises (SMEs) in the Sekondi-Takoradi metropolis. The research
design used was survey research design whilst the research approach was
quantitative research approach. Simple random sampling technique was
used to collect data from 243 owners/owner managers of SMEs in the
Sekondi-Takoradi Metropolis through self-administered questionnaires.
Partial least squares (PLS) structural equation modelling (SEM) was used
to test the hypotheses postulated. The study revealed that all four
different types of innovation significantly influence organisational
performance positively, except the product innovation/organisational
performance relationship, which was positive but not significant. The
results also suggest that innovation accounted for more than fifty one
percent of the variation in organisational performance. It was,
therefore, recommended that managers of SMEs pay critical attention to
the implementation of innovation activities in their firms due to its
positive impact of performance.
Keywords: Innovation, organisational performance, small and medium-sized enterprises
instruments of growth strategies to enter new markets, to increase the
existing market share and to provide the company with a competitive
edge. Despite this acknowledgement, there is lack of research into how
innovation contributes to the performance of small and medium sized
enterprises. The aim of this study was to investigate the influence of
innovation on organisational performance of small and medium-sized
enterprises (SMEs) in the Sekondi-Takoradi metropolis. The research
design used was survey research design whilst the research approach was
quantitative research approach. Simple random sampling technique was
used to collect data from 243 owners/owner managers of SMEs in the
Sekondi-Takoradi Metropolis through self-administered questionnaires.
Partial least squares (PLS) structural equation modelling (SEM) was used
to test the hypotheses postulated. The study revealed that all four
different types of innovation significantly influence organisational
performance positively, except the product innovation/organisational
performance relationship, which was positive but not significant. The
results also suggest that innovation accounted for more than fifty one
percent of the variation in organisational performance. It was,
therefore, recommended that managers of SMEs pay critical attention to
the implementation of innovation activities in their firms due to its
positive impact of performance.
Keywords: Innovation, organisational performance, small and medium-sized enterprises
References
References
Al-Ansari, Y., Pervan, S., & Xu, J. (2013). Innovation and business performance of SMEs: The case
of Dubai. Education, Business and Society: Contemporary Middle Eastern Issues, 6(3/4), 162-180.
Ale Ebrahim, N., Ahmed, S., & Taha, Z. (2010). Critical factors for new product developments in
SMEs virtual team. African Journal of Business Management, 4(11), 2247-2257.
Alegre, J., Lapiedra, R., & Chiva, R. (2006). A measurement scale for product innovation
performance. European Journal of Innovation Management, 9(4), 333-346.
Amara, N., & Landry, R. (2005). Sources of information as determinants of novelty of innovation in
manufacturing firms: Evidence from the 1999 statistics Canada innovation survey. Technovation, 25(3), 245-259.
Ar, I. M., & Baki, B. (2011). Antecedents and performance impacts of product versus process
innovation: Empirical evidence from SMEs located in Turkish
science and technology parks. European Journal of Innovation Management,
14(2), 172-206.
Atalay, M., Anafarta, N., & Sarvan, F. (2013). The relationship between innovation and firm
performance: An empirical evidence from Turkish automotive
supplier industry. Procedia-Social and Behavioral Sciences, 75, 226-235.
Augusto, M. G., Lisboa, J. V., & Yasin, M. M. (2014). Organisational performance and innovation in
the context of a total quality management philosophy: An
empirical investigation. Total Quality Management & Business
Excellence (ahead-of-print), 1-15.
Avci, U., Madanoglu, M., & Okumus, F. (2011). Strategic orientation and performance of tourism
firms: Evidence from a developing country. Tourism management, 32(1), 147-157.
Bagozzi, R. P., & Yi, Y. (1988). On the evaluation of structural equation models. Journal of the
Academy of Marketing Science, 16(1), 74-94.
Bayus, B. L., Erickson, G., & Jacobson, R. (2003). The financial rewards of new product
introductions in the personal computer industry. Management Science, 49(2), 197-210.
Cagliano, R., & Spina, G. (2002). A comparison of practice-performance models between small
manufacturers and subcontractors. International Journal of Operations & Production Management, 22(12), 1367-1388.
Camisón, C., & Villar-López, A. (2014). Organisational innovation as an enabler of technological
innovation capabilities and firm performance. Journal of Business Research, 67(1), 2891-2902.
Carayannis, E. G., & Gonzalez, E. (2003). Creativity and innovation competitiveness? When, how,
and why. The international handbook on innovation, 587-606.
Cosh, A., & Hughes, A. (2000). British enterprise in transition: Growth, innovation and public policy
in the small and medium sized enterprise sector 1994-1999. Cambridge: ESRC Centre for Business Research.
D’Angelo, A. (2012). Innovation and export performance: A study of Italian high-tech SMEs. Journal
of Management & Governance, 16(3), 393-423.
Dadfar, H., Dahlgaard, J. J., Brege, S., & Alamirhoor, A. (2013). Linkage between organisational
innovation capability, product platform development and
performance: The case of pharmaceutical small and medium enterprises in
Iran. Total Quality Management & Business Excellence, 24(7-8),
819-834.
Damanpour, F. (1991). Organisational innovation: A meta-analysis of effects of determinants and
moderators. Academy of management journal, 34(3), 555-590.
Damanpour, F., & Gopalakrishnan, S. (2001). The dynamics of the adoption of product and process
innovations in organizations. Journal of management studies, 38(1), 45-65.
De Jong, J. P., & Vermeulen, P. A. (2006). Determinants of product innovation in Small Firms: A
comparison across industries. International Small Business Journal, 24(6), 587-609.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable
variables and measurement error. Journal of Marketing Research (JMR), 18(1).
Gopalakrishnan, S., & Damanpour, F. (1997). A review of innovation research in economics,
sociology and technology management. Omega, 25(1), 15-28.
Götz, O., Liehr-Gobbers, K., & Krafft, M. (2010). Evaluation of structural equation models
using the partial least squares (PLS) approach. In V. Esposito
Vinzi, W.W. Chin, J. Henseler, & H. Wang (Ed.), Handbook of partial
least squares: Concepts, methods and applications (pp. 691- 711).
Berlin: Springer.
Gunday, G., Ulusoy, G., Kilic, K., & Alpkan, L. (2011). Effects of innovation types on firm
performance. International Journal of Production Economics, 133(2), 662-676.
Hair, J. F., Ringle, C. M., & Sarstedt, M. (2011). PLS-SEM: Indeed a silver bullet. The Journal of
Marketing Theory and Practice, 19(2), 139-152.
Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural
equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106-121.
Hair, J. F., Sarstedt, M., Ringle, C. M., & Mena, J. A. (2012). An assessment of the use of partial least
squares structural equation modelling in marketing research. Journal of the Academy of Marketing Science, 40(3), 414-433.
Hair, J., Black, W., Babin, B., Anderson, R., & Tatham, R. (2006). Multivariate data analysis (6th
ed.). New Jersey: Pearson Prentice Hall.
Hall, B. H. (2011). Innovation and productivity. National Bureau of Economic Research. 17178. doi:
3386/w17178
Hernández-Espallardo, M., & Delgado-Ballester, E. (2009). Product innovation in small
manufacturers, market orientation and the industry's five
competitive forces: Empirical evidence from Spain. European Journal of
Innovation Management, 12(4), 470-491.
Hulland, J. (1999). Use of partial least squares (PLS) in strategic management research: a review of
four recent studies. Strategic Management Journal, 20(2), 195-204.
Jenssen, J. I., & Aasheim, K. (2010). Organisational innovation promoters and performance effects in
small, knowledge-intensive firms. The International Journal of Entrepreneurship and Innovation, 11(1), 19-27.
Jenssen, J. I., & Nybakk, E. (2009). Inter-organisational innovation promoters in small, knowledge-
intensive firms. International Journal of Innovation Management, 13(03), 441-466.
Johansson, G. (2008). Product innovation for sustainability: on product properties for efficient
disassembly. International Journal of Sustainable Engineering, 1(1), 32-41.
Johne, A., & Davies, R. (2000). Innovation in medium-sized insurance companies: How marketing
adds value. International Journal of Bank Marketing, 18(1), 6-14.
Li, Y., Zhou, N., & Si, Y. (2010). Exploratory innovation, exploitative innovation, and performance:
influence of business strategies and environment. Nankai Business Review International, 1(3), 297-316.
Lin, C. Y.-Y., & Chen, M. Y.-C. (2007). Does innovation lead to performance? An empirical study of
SMEs in Taiwan. Management Research News, 30(2), 115-132.
Madrid‐Guijarro, A., García‐Pérez‐de‐Lema, D., & Van Auken, H. (2013). An investigation of
Spanish SME innovation during different economic conditions. Journal of Small Business Management, 51(4), 578-601.
Massa, S., & Testa, S. (2008). Innovation and SMEs: Misaligned perspectives and goals among
entrepreneurs, academics, and policy makers. Technovation, 28(7), 393-407.
Mohamad, M. R., & Sidek, S. (2013). Innovation and firm performance: Evidence from Malaysian
small and medium enterprises. In The 20th International
Business Information Management Conference (IBIMA). International
Business Information Management Association (pp. 794-809). ISBN
978098214899.
Noruzy, A., Dalfard, V. M., Azhdari, B., Nazari-Shirkouhi, S., & Rezazadeh, A. (2013). Relations
between transformational leadership, organisational learning,
knowledge management, organisational innovation, and organisational
performance: an empirical investigation of manufacturing firms. The
International Journal of Advanced Manufacturing Technology, 64(5-8),
1073-1085.
OECD, (2005). Oslo manual: Guidelines for Collecting and Interpreting Innovation Data (3rd ed.).
Paris: Organisation for Economic Co-Operation and Development (in joint publication with Eurostat).
Oke, A., Burke, G., & Myers, A. (2007). Innovation types and performance in growing UK SMEs.
International Journal of Operations & Production Management, 27(7), 735-753.
Oke, A., Prajogo, D. I., & Jayaram, J. (2013). Strengthening the innovation chain: The role of internal
innovation climate and strategic relationships with supply chain partners. Journal of Supply Chain Management, 49(4), 43-58.
Otero-Neira, C., Lindman, M. T., & Fernández, M. J. (2009). Innovation and performance in SME
furniture industries: An international comparative case study. Marketing Intelligence & Planning, 27(2), 216-232.
Pallant, J. (2007). A step-by-step guide to data analysis using SPSS version 15. Maidenhead: Open
University.
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. New
York: Free Press.
Pratali, P. (2003). Strategic management of technological innovations in the small to medium
enterprise. European Journal of Innovation Management, 6(1), 18-31.
Rigdon, E. E., Ringle, C. M., & Sarstedt, M. (2010). Structural modeling of heterogeneous data with
partial least squares. Review of marketing research, 7, 255-296.
Roldán, J. L., & Sánchez-Franco, M. J. (2012). Variance-based structural equation modeling:
guidelines for using partial least squares in information
systems research. Research methodologies, innovations and philosophies
in software systems engineering and information systems, 193-221.
Sandvik, I. L., & Sandvik, K. (2003). The impact of market orientation on product innovativeness and
business performance. International Journal of Research in Marketing, 20(4), 355-376.
Sanz-Valle, R., Naranjo-Valencia, J. C., Jiménez-Jiménez, D., & Perez-Caballero, L. (2011). Linking
organisational learning with technical innovation and organisational culture. Journal of Knowledge Management, 15(6), 997-1015.
Sarstedt, M., Ringle, C. M., Henseler, J., & Hair, J. F.
(2014). On the emancipation of PLS-SEM: A commentary on Rigdon (2012).
Long range planning, 47(3), 154-160.
Saunders, M. N., Saunders, M., Lewis, P., & Thornhill, A. (2011). Research methods for business
students. Delhi: Pearson Education.
Schumpeter, J. A. (1934). The theory of economic development: An inquiry into profits, capital,
credit, interest, and the business cycle. New York: Transaction Publishers.
Sekaran, U., & Bougie, R. (2010). Research methods for business: A skill building approach. London:
Wiley.
Sirmon, D. G., Hitt, M. A., Ireland, R. D., & Gilbert, B. A. (2011). Resource orchestration to create
competitive advantage breadth, depth, and life cycle effects. Journal of management, 37(5), 1390-1412.
Tabachnick, B., & Fidell, L. (2007). Multivariate analysis of variance and covariance: Using
multivariate statistics. Boston: Allyn & Bacon.
Tidd, J., & Bessant, J. (2011). Managing innovation: integrating technological, market and
organisational change. New Jersey: John Wiley & Sons.
Tung, J. (2012). A study of product innovation on firm performance. International Journal of
Organisational Innovation, 4(3).
Uma, S. (2003). Research methods for business. New York: Hermitage Publishing Service.
Valmohammadi, C. (2012). Investigating innovation management practices in Iranian organizations.
Innovation, Management, Policy & Practice, 14(2), 247-255.
Vanhaverbeke, W., & Peeters, N. (2005). Embracing innovation as strategy: Corporate venturing,
competence building and corporate strategy making. Creativity and Innovation Management, 14(3), 246-257.
Varis, M., & Littunen, H. (2010). Types of innovation, sources of information and performance in
entrepreneurial SMEs. European Journal of Innovation Management, 13(2), 128-154.
Wong, K. K.-K. (2013). Partial least squares structural equation modelling (PLS-SEM) techniques
using SmartPLS. Marketing Bulletin, 24.
Yates, S. (2003). Doing social science research. London: Sage.
Zikmund, W., Babin, B., Carr, J., & Griffin, M. (2012). Business research methods. London: Cengage
Learning.
Al-Ansari, Y., Pervan, S., & Xu, J. (2013). Innovation and business performance of SMEs: The case
of Dubai. Education, Business and Society: Contemporary Middle Eastern Issues, 6(3/4), 162-180.
Ale Ebrahim, N., Ahmed, S., & Taha, Z. (2010). Critical factors for new product developments in
SMEs virtual team. African Journal of Business Management, 4(11), 2247-2257.
Alegre, J., Lapiedra, R., & Chiva, R. (2006). A measurement scale for product innovation
performance. European Journal of Innovation Management, 9(4), 333-346.
Amara, N., & Landry, R. (2005). Sources of information as determinants of novelty of innovation in
manufacturing firms: Evidence from the 1999 statistics Canada innovation survey. Technovation, 25(3), 245-259.
Ar, I. M., & Baki, B. (2011). Antecedents and performance impacts of product versus process
innovation: Empirical evidence from SMEs located in Turkish
science and technology parks. European Journal of Innovation Management,
14(2), 172-206.
Atalay, M., Anafarta, N., & Sarvan, F. (2013). The relationship between innovation and firm
performance: An empirical evidence from Turkish automotive
supplier industry. Procedia-Social and Behavioral Sciences, 75, 226-235.
Augusto, M. G., Lisboa, J. V., & Yasin, M. M. (2014). Organisational performance and innovation in
the context of a total quality management philosophy: An
empirical investigation. Total Quality Management & Business
Excellence (ahead-of-print), 1-15.
Avci, U., Madanoglu, M., & Okumus, F. (2011). Strategic orientation and performance of tourism
firms: Evidence from a developing country. Tourism management, 32(1), 147-157.
Bagozzi, R. P., & Yi, Y. (1988). On the evaluation of structural equation models. Journal of the
Academy of Marketing Science, 16(1), 74-94.
Bayus, B. L., Erickson, G., & Jacobson, R. (2003). The financial rewards of new product
introductions in the personal computer industry. Management Science, 49(2), 197-210.
Cagliano, R., & Spina, G. (2002). A comparison of practice-performance models between small
manufacturers and subcontractors. International Journal of Operations & Production Management, 22(12), 1367-1388.
Camisón, C., & Villar-López, A. (2014). Organisational innovation as an enabler of technological
innovation capabilities and firm performance. Journal of Business Research, 67(1), 2891-2902.
Carayannis, E. G., & Gonzalez, E. (2003). Creativity and innovation competitiveness? When, how,
and why. The international handbook on innovation, 587-606.
Cosh, A., & Hughes, A. (2000). British enterprise in transition: Growth, innovation and public policy
in the small and medium sized enterprise sector 1994-1999. Cambridge: ESRC Centre for Business Research.
D’Angelo, A. (2012). Innovation and export performance: A study of Italian high-tech SMEs. Journal
of Management & Governance, 16(3), 393-423.
Dadfar, H., Dahlgaard, J. J., Brege, S., & Alamirhoor, A. (2013). Linkage between organisational
innovation capability, product platform development and
performance: The case of pharmaceutical small and medium enterprises in
Iran. Total Quality Management & Business Excellence, 24(7-8),
819-834.
Damanpour, F. (1991). Organisational innovation: A meta-analysis of effects of determinants and
moderators. Academy of management journal, 34(3), 555-590.
Damanpour, F., & Gopalakrishnan, S. (2001). The dynamics of the adoption of product and process
innovations in organizations. Journal of management studies, 38(1), 45-65.
De Jong, J. P., & Vermeulen, P. A. (2006). Determinants of product innovation in Small Firms: A
comparison across industries. International Small Business Journal, 24(6), 587-609.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable
variables and measurement error. Journal of Marketing Research (JMR), 18(1).
Gopalakrishnan, S., & Damanpour, F. (1997). A review of innovation research in economics,
sociology and technology management. Omega, 25(1), 15-28.
Götz, O., Liehr-Gobbers, K., & Krafft, M. (2010). Evaluation of structural equation models
using the partial least squares (PLS) approach. In V. Esposito
Vinzi, W.W. Chin, J. Henseler, & H. Wang (Ed.), Handbook of partial
least squares: Concepts, methods and applications (pp. 691- 711).
Berlin: Springer.
Gunday, G., Ulusoy, G., Kilic, K., & Alpkan, L. (2011). Effects of innovation types on firm
performance. International Journal of Production Economics, 133(2), 662-676.
Hair, J. F., Ringle, C. M., & Sarstedt, M. (2011). PLS-SEM: Indeed a silver bullet. The Journal of
Marketing Theory and Practice, 19(2), 139-152.
Hair, J. F., Sarstedt, M., Hopkins, L., & Kuppelwieser, V. G. (2014). Partial least squares structural
equation modeling (PLS-SEM): An emerging tool in business research. European Business Review, 26(2), 106-121.
Hair, J. F., Sarstedt, M., Ringle, C. M., & Mena, J. A. (2012). An assessment of the use of partial least
squares structural equation modelling in marketing research. Journal of the Academy of Marketing Science, 40(3), 414-433.
Hair, J., Black, W., Babin, B., Anderson, R., & Tatham, R. (2006). Multivariate data analysis (6th
ed.). New Jersey: Pearson Prentice Hall.
Hall, B. H. (2011). Innovation and productivity. National Bureau of Economic Research. 17178. doi:
3386/w17178
Hernández-Espallardo, M., & Delgado-Ballester, E. (2009). Product innovation in small
manufacturers, market orientation and the industry's five
competitive forces: Empirical evidence from Spain. European Journal of
Innovation Management, 12(4), 470-491.
Hulland, J. (1999). Use of partial least squares (PLS) in strategic management research: a review of
four recent studies. Strategic Management Journal, 20(2), 195-204.
Jenssen, J. I., & Aasheim, K. (2010). Organisational innovation promoters and performance effects in
small, knowledge-intensive firms. The International Journal of Entrepreneurship and Innovation, 11(1), 19-27.
Jenssen, J. I., & Nybakk, E. (2009). Inter-organisational innovation promoters in small, knowledge-
intensive firms. International Journal of Innovation Management, 13(03), 441-466.
Johansson, G. (2008). Product innovation for sustainability: on product properties for efficient
disassembly. International Journal of Sustainable Engineering, 1(1), 32-41.
Johne, A., & Davies, R. (2000). Innovation in medium-sized insurance companies: How marketing
adds value. International Journal of Bank Marketing, 18(1), 6-14.
Li, Y., Zhou, N., & Si, Y. (2010). Exploratory innovation, exploitative innovation, and performance:
influence of business strategies and environment. Nankai Business Review International, 1(3), 297-316.
Lin, C. Y.-Y., & Chen, M. Y.-C. (2007). Does innovation lead to performance? An empirical study of
SMEs in Taiwan. Management Research News, 30(2), 115-132.
Madrid‐Guijarro, A., García‐Pérez‐de‐Lema, D., & Van Auken, H. (2013). An investigation of
Spanish SME innovation during different economic conditions. Journal of Small Business Management, 51(4), 578-601.
Massa, S., & Testa, S. (2008). Innovation and SMEs: Misaligned perspectives and goals among
entrepreneurs, academics, and policy makers. Technovation, 28(7), 393-407.
Mohamad, M. R., & Sidek, S. (2013). Innovation and firm performance: Evidence from Malaysian
small and medium enterprises. In The 20th International
Business Information Management Conference (IBIMA). International
Business Information Management Association (pp. 794-809). ISBN
978098214899.
Noruzy, A., Dalfard, V. M., Azhdari, B., Nazari-Shirkouhi, S., & Rezazadeh, A. (2013). Relations
between transformational leadership, organisational learning,
knowledge management, organisational innovation, and organisational
performance: an empirical investigation of manufacturing firms. The
International Journal of Advanced Manufacturing Technology, 64(5-8),
1073-1085.
OECD, (2005). Oslo manual: Guidelines for Collecting and Interpreting Innovation Data (3rd ed.).
Paris: Organisation for Economic Co-Operation and Development (in joint publication with Eurostat).
Oke, A., Burke, G., & Myers, A. (2007). Innovation types and performance in growing UK SMEs.
International Journal of Operations & Production Management, 27(7), 735-753.
Oke, A., Prajogo, D. I., & Jayaram, J. (2013). Strengthening the innovation chain: The role of internal
innovation climate and strategic relationships with supply chain partners. Journal of Supply Chain Management, 49(4), 43-58.
Otero-Neira, C., Lindman, M. T., & Fernández, M. J. (2009). Innovation and performance in SME
furniture industries: An international comparative case study. Marketing Intelligence & Planning, 27(2), 216-232.
Pallant, J. (2007). A step-by-step guide to data analysis using SPSS version 15. Maidenhead: Open
University.
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. New
York: Free Press.
Pratali, P. (2003). Strategic management of technological innovations in the small to medium
enterprise. European Journal of Innovation Management, 6(1), 18-31.
Rigdon, E. E., Ringle, C. M., & Sarstedt, M. (2010). Structural modeling of heterogeneous data with
partial least squares. Review of marketing research, 7, 255-296.
Roldán, J. L., & Sánchez-Franco, M. J. (2012). Variance-based structural equation modeling:
guidelines for using partial least squares in information
systems research. Research methodologies, innovations and philosophies
in software systems engineering and information systems, 193-221.
Sandvik, I. L., & Sandvik, K. (2003). The impact of market orientation on product innovativeness and
business performance. International Journal of Research in Marketing, 20(4), 355-376.
Sanz-Valle, R., Naranjo-Valencia, J. C., Jiménez-Jiménez, D., & Perez-Caballero, L. (2011). Linking
organisational learning with technical innovation and organisational culture. Journal of Knowledge Management, 15(6), 997-1015.
Sarstedt, M., Ringle, C. M., Henseler, J., & Hair, J. F.
(2014). On the emancipation of PLS-SEM: A commentary on Rigdon (2012).
Long range planning, 47(3), 154-160.
Saunders, M. N., Saunders, M., Lewis, P., & Thornhill, A. (2011). Research methods for business
students. Delhi: Pearson Education.
Schumpeter, J. A. (1934). The theory of economic development: An inquiry into profits, capital,
credit, interest, and the business cycle. New York: Transaction Publishers.
Sekaran, U., & Bougie, R. (2010). Research methods for business: A skill building approach. London:
Wiley.
Sirmon, D. G., Hitt, M. A., Ireland, R. D., & Gilbert, B. A. (2011). Resource orchestration to create
competitive advantage breadth, depth, and life cycle effects. Journal of management, 37(5), 1390-1412.
Tabachnick, B., & Fidell, L. (2007). Multivariate analysis of variance and covariance: Using
multivariate statistics. Boston: Allyn & Bacon.
Tidd, J., & Bessant, J. (2011). Managing innovation: integrating technological, market and
organisational change. New Jersey: John Wiley & Sons.
Tung, J. (2012). A study of product innovation on firm performance. International Journal of
Organisational Innovation, 4(3).
Uma, S. (2003). Research methods for business. New York: Hermitage Publishing Service.
Valmohammadi, C. (2012). Investigating innovation management practices in Iranian organizations.
Innovation, Management, Policy & Practice, 14(2), 247-255.
Vanhaverbeke, W., & Peeters, N. (2005). Embracing innovation as strategy: Corporate venturing,
competence building and corporate strategy making. Creativity and Innovation Management, 14(3), 246-257.
Varis, M., & Littunen, H. (2010). Types of innovation, sources of information and performance in
entrepreneurial SMEs. European Journal of Innovation Management, 13(2), 128-154.
Wong, K. K.-K. (2013). Partial least squares structural equation modelling (PLS-SEM) techniques
using SmartPLS. Marketing Bulletin, 24.
Yates, S. (2003). Doing social science research. London: Sage.
Zikmund, W., Babin, B., Carr, J., & Griffin, M. (2012). Business research methods. London: Cengage
Learning.
DOI: http://dx.doi.org/10.14738/abr.33.1240
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The Effect of Innovation Types on the Performance of Small and Medium-Sized Enterprises in the Sekondi-Takoradi Metropolis | Boachie-Mensah | Archives of Business Research