6533b854fe1ef96bd12ae23f
RESEARCH PRODUCT
INNOVATION STRATEGY, WORKING CLIMATE, AND FINANCIAL PERFORMANCE IN TRADITIONAL MANUFACTURING FIRMS: AN EMPIRICAL ANALYSIS
Jan Inge JenssenErlend Nybakksubject
Financial performanceStrategy and Managementmedia_common.quotation_subjectBusiness system planningCohesion (computer science)Innovation strategy innovative working climate financial performance manufacturing firms wood industryStructural equation modelingManagement of Technology and InnovationOpenness to experienceManufacturing firmsBusinessBusiness and International ManagementMarketingWood industryAutonomymedia_commondescription
In this study, we address the effect of innovation strategy and an innovative working climate on financial performance in the Norwegian wood industry. Innovation strategy embodies four dimensions: the degrees to which innovation in the form of products, processes, and business systems are embedded in the management values and priorities as well as the degree of expenditure in R&D. An innovative working climate is exemplified by team cohesion, supervisory encouragement, resources, autonomy, challenge, and openness to innovation. Previous studies have indicated a lack of research in traditional manufacturing firms on both innovation strategy and a supportive working climate. Our survey was answered by 241 CEOs. The connectional model was tested with structural equation modelling, and all hypotheses received support. This result implied that innovation strategy and an innovative working climate enhanced financial performance in traditional manufacturing firms.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2012-04-01 | International Journal of Innovation Management |