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Cultural orientations and product innovation in the Ghanaian banking sector

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  • Jenkins Atarisigna Asaah
  • Shao Yunfei
  • Kwame Ansong Wadei
  • Kofi Frimpong Adasa Nkrumah

Abstract

The Ghanaian banking sector plays a major role in the socio-economic development of the country. However, the banks are faced with many challenges which include growing customers’ demands, inadequate innovation practices and poor financial performance. With the advent of Information Communication Technologies (ICTs), there are calls for the banks to be more innovative. The paper explores the influence of organizational cultural orientations on product innovation. It also examines the moderating effect of extrinsic motivators on such relationships. Hypotheses were formulated and tested using data collected from the banking sector in Ghana. The findings are that innovate-oriented and compete-oriented cultures have a direct positive influence on product innovation. Both Informational Extrinsic Motivators (IEMs) and Controlling Extrinsic Motivators (CEMs) moderate the relationship between innovate-oriented, compete-oriented cultures and product innovation such that they diminish the positive relationship that exists between such variables. The paper offers theoretical contribution and managerial implications which are discussed.

Suggested Citation

  • Jenkins Atarisigna Asaah & Shao Yunfei & Kwame Ansong Wadei & Kofi Frimpong Adasa Nkrumah, 2020. "Cultural orientations and product innovation in the Ghanaian banking sector," The Service Industries Journal, Taylor & Francis Journals, vol. 40(7-8), pages 518-541, June.
    • Handle: RePEc:taf:servic:v:40:y:2020:i:7-8:p:518-541
    DOI: 10.1080/02642069.2019.1569635
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    Cited by:

    1. Amankwah-Amoah, Joseph & Adomako, Samuel, 2021. "The effects of knowledge integration and contextual ambidexterity on innovation in entrepreneurial ventures," Journal of Business Research, Elsevier, vol. 127(C), pages 312-321.
    2. Jenkins A. Asaah & Beatrice L. Asaah & Austin W. Luguterah, 2020. "Diagnosing the Organizational Culture of Rural Community Banks in Ghana and Its Effects on Their Financial Performance," Journal of Social Science Studies, Macrothink Institute, vol. 7(2), pages 86-114, December.

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