The Influence of Digital Technologies, Cultural Diversity, Innovation Capability and Open Innovation on Firm Performance: The Role of Entrepreneurial orientation
DOI:
https://doi.org/10.22555/pbr.v27i4.1498Keywords:
Entrepreneurial orientation, Firm performance, Cultural diversity, Innovation capability, Open innovation, Digital technologyAbstract
The aim of this research paper is to discover the arbitrating influence of the entrepreneurial orientation in the relationship between Cultural Diversity and Firm Performance as well as between digital technology and firm performance. Another aim of this study is to test the association in-between Open Innovation and the Firm Performance as well as the association between innovation capability and firm performance. SMEs with 5 to 300 employees in Sindh province, Pakistan was utilized to obtain the required data. This article chose SMEs as they form a very important part of the Pakistan economic participation. The hypothesized relationships in the proposed framework were conducted using Smart-PLS. The results reveal that EO, DT, OI and IC have a significant relation with FP. More so, the findings are an indication that the EO is seen as an intervening aspect in the connection between CD and FP. The results of this study are also indicators that EO is a major mediator between DT and FP. Moreover, the results will equip researchers and managers with the better understanding capability of the certain role that the EO plays as the mediator. The findings further show that companies ought to concentrate on how the resources can be utilized to improve their capabilities which will lead to improved performance. The findings motivate the firms to seize the opportunity of new digital technologies and trend of digitalization in industries by being committed in adopting new digital technologies and in modernizing the performance of firms in terms of digital capabilities by becoming leaders in innovation besides enhancing performance of firms.
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