Organizational Resilience, Innovation and Firm Performance in Hospitality Industry in Ghana: Moderating Roles of Social Ties | Chapter 4 | An Overview on Business, Management and Economics Research Vol. 7

This study examines the impact of organizational resilience on innovation performance and firm performance in the hospitality sector in Ghana. the study employed a quantitative research method - using data from key informants within the hospitality landscape, the findings indicate organizational resilience has a positive and significant impact on innovation performance. Innovation performance is particularly important in a rapidly changing business environment, where the ability to develop new products, services, and processes can give businesses a competitive edge.  Participants will be selected using a random sampling technique to ensure an adequate representation. Specifically, our results suggest that firms that develop resilience capabilities are more likely to engage in exploratory innovation, which involves developing new products, services, or business models that are not directly related to existing offerings. We also find that firms that invest in developing resilience capabilities, foster a culture of innovation, and focus on incremental innovations are more likely to achieve competitive advantage and long-term success. In addition, social ties appear to be particularly important for firm resilience. Using cross-sectional details from respondents in the hospitality landscape, the findings revealed there is a positive association between organizational resilience, innovation and firm performance. The relationship between organizational resilience and the firm performance had an R2 value of 0.238. These findings have important implications for managers in the hospitality industry in Ghana, as they highlight the importance of developing resilience capabilities to facilitate innovation and enhance firm performance in a highly uncertain and volatile industry.

Author(s) Details:

Lydia Asare-Kyire,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.

Owusu Ackah,
Jayee University College, Ghana.

Charles Akomea Bonsu,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.

William Ansah Appienti,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.

Please see the link here: https://stm.bookpi.org/AOBMER-V7/article/view/13011