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Innovation Activities and Their Impact on Product Innovation Results: Evidence from a Sectorial Study

Author

Listed:
  • Eduardo Antonio Chang-Muñoz

    (Department of Business Science, Universidad de la Costa—CUC, Barranquilla 080002, Colombia)

  • Andrés Felipe Guarín-García

    (Department of Business Science, Universidad de la Costa—CUC, Barranquilla 080002, Colombia)

  • Yuneidis Charris-Sevilla

    (Department of Business Science, Universidad de la Costa—CUC, Barranquilla 080002, Colombia)

  • José Fernando Gallego-Nicholls

    (Research and Innovation Department, ESIC Business & Marketing School, Avenida Blasco Ibáñez 55, 46021 Valencia, Spain)

  • Cristina Santos-Rojo

    (Research and Innovation Department, ESIC Business & Marketing School, Avenida Blasco Ibáñez 55, 46021 Valencia, Spain
    Research and Innovation Department, ESIC University, Avenida de Valdenigrales, s/n, 28223 Pozuelo de Alarcón, Spain)

  • Arturo Ortigosa-Blanch

    (Research and Innovation Department, ESIC Business & Marketing School, Avenida Blasco Ibáñez 55, 46021 Valencia, Spain
    Research and Innovation Department, ESIC University, Avenida de Valdenigrales, s/n, 28223 Pozuelo de Alarcón, Spain)

Abstract

In the current competitive context, innovation has become a necessity, to the point that it seems that no company can survive without developing innovation processes. One of the great concerns of small and medium-sized companies is about the investment of resources in innovation activities and their success. Therefore, this article analyzes the influence of different innovation activities performed by small and medium-sized enterprises (SMEs) of the Colombian Caribbean region on their product innovation outcomes and thereby provides a solid groundwork for the design of innovation strategies. To achieve this objective, a data collection instrument was first validated in 56 SMEs, followed by the application of a reflective measurement model with convergent validity analysis. The results of the model application revealed that investment in Research and Development (R&D) and innovation, knowledge transfer, technology adoption, and financial aspects explain to a greater extent the introduction of new products to the market.

Suggested Citation

  • Eduardo Antonio Chang-Muñoz & Andrés Felipe Guarín-García & Yuneidis Charris-Sevilla & José Fernando Gallego-Nicholls & Cristina Santos-Rojo & Arturo Ortigosa-Blanch, 2023. "Innovation Activities and Their Impact on Product Innovation Results: Evidence from a Sectorial Study," Sustainability, MDPI, vol. 15(8), pages 1-15, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:8:p:6459-:d:1120481
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    References listed on IDEAS

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    Cited by:

    1. OMENKA Johnson Chuku & BABALOLA Yemisi Tomilola (Ph. D), 2023. "Information Technology Competence and Innovation in Small and Medium Enterprises," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(7), pages 873-880, July.

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