TITLE:
Organizational Resilience, Innovation and Firm Performance: Moderating Role of Social Ties
AUTHORS:
Lydia Asare-Kyire, Charles Akomea Bonsu, William Ansah Appienti, Owusu Ackah
KEYWORDS:
Social Ties, Organizational Resilience, Innovation Performance, Firm Performance, Hospitality
JOURNAL NAME:
Open Journal of Business and Management,
Vol.11 No.5,
September
4,
2023
ABSTRACT: This study examines the impact of organizational
resilience on innovation performance and firm performance in the hospitality
sector in Ghana. Using data from key informants within the hospitality
landscape, the findings indicate that organizational resilience has a positive and significant impact on
innovation performance. 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 firms
that are more resilient. 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.