Innovation strategy, working climate, and financial performance in traditional manufacturing firms: An empirical analysis
In this study, we address this research question: What effect do an innovation strategy and an innovative working climate have on financial performance in the Norwegian wood industry? Innovation strategy embodies four dimensions: those concerning the degree to which innovation in the form of products, processes, and business systems are embedded in the management values and priorities, and those concerning the degree of expenditure in R&D. An innovative working climate is embodied by team cohesion, supervisory encouragement, resources, autonomy, challenge, and openness to innovation. Previous studies indicate a lack of studies in traditional manufacturing and a lack of studies including both an innovation strategy and a supporting working climate. 241 CEOs answered our survey . The connectional model was tested with structural equation modelling, and all hypotheses received support. This implies that an innovation strategy and an innovative working climate enhance financial performance in traditional manufacturing firms. The results are discussed and implications are made
Publisert i International Journal of Innovation Management, 2012
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