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Innovation Strategy, Working Climate, And Financial Performance In Traditional Manufacturing Firms: An Empirical Analysis

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  • ERLEND NYBAKK

    ()
    (Norwegian Forest and Landscape Institute, Pb 115, NO-1431 AAs, Norway)

  • JAN INGE JENSSEN

    (University of Agder, Norway)

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    Abstract

    In this study, we address the effect of innovation strategy and an innovative working climate on financial performance in the Norwegian wood industry. Innovation strategy embodies four dimensions: the degrees to which innovation in the form of products, processes, and business systems are embedded in the management values and priorities as well as the degree of expenditure in R&D. An innovative working climate is exemplified by team cohesion, supervisory encouragement, resources, autonomy, challenge, and openness to innovation. Previous studies have indicated a lack of research in traditional manufacturing firms on both innovation strategy and a supportive working climate. Our survey was answered by 241 CEOs. The connectional model was tested with structural equation modelling, and all hypotheses received support. This result implied that innovation strategy and an innovative working climate enhanced financial performance in traditional manufacturing firms.

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    Bibliographic Info

    Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Journal of Innovation Management.

    Volume (Year): 16 (2012)
    Issue (Month): 02 ()
    Pages: 1250008-1-1250008-26

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    Handle: RePEc:wsi:ijimxx:v:16:y:2012:i:02:p:1250008-1-1250008-26

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    Related research

    Keywords: Innovation strategy; innovative working climate; financial performance; manufacturing firms; wood industry;

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    Cited by:
    1. Alfranca, Oscar & Voces, Roberto & Herruzo, A. Casimiro & Diaz-Balteiro, Luis, 2014. "Effects of innovation on the European wood industry market structure," Forest Policy and Economics, Elsevier, vol. 40(C), pages 40-47.

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