Strategic Innovation as an Antecedent of Firm Performance: A Critical Review of Literature
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Date
2023-09
Authors
Chege, Miriam Mukami
Kinyua, Godfrey
Journal Title
Journal ISSN
Volume Title
Publisher
IJERN
Abstract
Amidst a dynamic business environment that is volatile, uncertain, complex and ambiguous, firms
must determine ways of achieve their strategic objectives as well as and gain an edge over their
competition. This must happen both in the short and the long term for sustainable competitive
advantage. The general objective of the study is to review conceptual, theoretical as well as
empirical literature on the relationship between strategic innovation and firm performance with the
view of highlighting the knowledge gaps suitable to form basis for future research work.
Specifically, the study aims to review the existing conceptual and theoretical literature on the
construct of the strategic innovation and its connected phenomena, identify emerging conceptual
theoretical and empirical gaps from the reviewed literature, review relevant empirical literature on
the construct of firm performance and its connected phenomena and propose a suitable theoretical
framework in respect to the identified gaps for guiding future research. To achieve these objectives,
the study involved a critical review of conceptual, theoretical and empirical literature that provided
valuable insights on the dimensions and indicators of the key constructs. This review also aided in
identifying the link between key constructs, provided the theoretical underpinning and generated
insights into the existing gaps that would require an empirical pursuit. The theoretical paper
ultimately identified product innovation, process innovation, organizational innovation and business
process innovation as integral dimensions of strategic innovation. In addition, the review proposed
revenue growth, brand loyalty, market share and employee engagement as appropriate measures of
firm performance. The recommendation deriving from this review is that the developed conceptual
framework should be validated in diverse contexts so as to harness its practical, empirical and
theoretical value.
Description
Article
Keywords
Strategic Innovation, Firm Performance
Citation
Chege, M. M., & Kinyua, G. Strategic Innovation as an Antecedent of Firm Performance: A Critical Review of Literature.