Process, Product and Marketing Innovations as Drivers of Market Share in Ghanaian Universal Banks | Chapter 6 | New Advances in Business, Management and Economics Vol. 11

 

The banking industry has undergone a significant transformation over the past decade, shaped by technological advancements, regulatory shifts, and evolving consumer behaviours. In Ghana, the banking sector faces several challenges, including operational inefficiencies, rapidly changing consumer preferences, and recurrent banking crises that have eroded public confidence. While innovation is recognised as a critical driver of service quality and market share, there remains limited clarity on which specific innovation processes most effectively enhance banking performance. This study examined the impact of four innovation process types—organisational, product, process, and marketing—on the market share of universal banking services in Ghana. Data were collected from 100 managers across four universal banks, with respondents categorised by managerial roles for deeper analysis. An email-based survey was administered over several weeks, with respondents categorised by managerial roles for deeper analysis. Structural equation modelling was employed to test hypotheses, generating path coefficients, t-statistics, and p-values.

 

The findings highlight process, product, and marketing innovations as significant drivers of market share, with process innovation emerging as the most influential factor. Marketing and product innovations follow in importance, while organisational innovation shows a comparatively limited impact. Process innovation (β = 0.252) emerged as the most pivotal factor shaping bank market shares in Ghana. The result was closely followed by marketing innovation (β = 0.251), product innovation (β = 0.242), and organisational innovation (β = 0.159). This quantified hierarchy provides a clear understanding of the relative significance of each innovation type within Ghana's banking sector.

 

The study offers actionable insights for strategic decision-making, resource allocation, and policy formulation, helping stakeholders enhance market share and overall performance. By shedding light on the specific innovation processes that drive success, the research equips practitioners with tools to better meet evolving customer needs and gain a competitive edge in Ghana’s dynamic banking landscape. Additionally, addressing the challenges of organisational innovation remains crucial for maximising its potential impact. This research contributes to the existing body of knowledge and lays a foundation for future studies to further optimise innovation strategies in the banking industry. The study is limited to four innovation types and a small sample of banks, highlighting the need for future research to involve broader samples and explore the interconnected nature of innovation.

 

 

Author(s) Details

Cosmos Kwasi Gyadu
School of Business, Capella University, Minneapolis, United States.

 

Please see the book here :- https://doi.org/10.9734/bpi/nabme/v11/6467

Equilibrium and Maintenance Costs of Pensions Funds Studied through Stochastic Processes | Chapter 7 | Mathematics and Computer Science: Contemporary Developments Vol. 9

In this study, a representation is depicted of a pension fund through a stochastic network with two infinite servers’ nodes. With this representation, it is allowed to deduce an equilibrium condition of the system with a basis on the identity of the random rates expected values, for which the contributions arrive at the fund and the pensions are paid by the fund. Then, to address situations of imbalance, the generic case of a pension fund that is not sufficiently auto-financed, and is thoroughly maintained with an external financing effort is considered in this chapter. To represent the unrestricted reserves value process of this kind of fund, a time-homogeneous diffusion stochastic process with finite expected time to ruin is proposed. Then it is projected a financial tool that regenerates the diffusion at some level with a positive value every time the diffusion hits a barrier placed at the origin. So, the financing effort can be modeled as a renewal-reward process if the regeneration level is preserved constantly. The perpetual maintenance cost expected values and the finite-time maintenance cost evaluations are studied. An application of this approach when the unrestricted reserves value process behaves as a generalized Brownian motion process is presented.

 

Author (s) Details

 

Manuel Alberto M. Ferreira
Department of Mathematics, ISTA—School of Technology and Architecture, Iscte – Lisbon University Institute. Information Sciences, Technologies and Architecture Research Center (ISTAR-IUL), 1649-026 Lisbon, Portugal.

 

Please see the book here:- https://doi.org/10.9734/bpi/mcscd/v9/3369