Product Characteristics, Market Competitive Strategies, and SMEs Performance: Testing Their Relationships

Harjadi, Dikdik; Yuniawan, Ahyar; Abdurrahman, Agus; Dananjoyo, Radyan; Filatrovi, Eldes Willy; Arraniri, Iqbal

doi:10.13106/jafeb.2020.vol7.no10.613

Cited by 8 publications

(7 citation statements)

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“…The findings imply that the uphold of product innovation is not effective among the insurance companies in Kenya, and this could be the reason behind their continued decline in competitiveness. The findings concur with those by Harjadi et al (2020) who established that embracing product innovation through enhancing the characteristics of the product is an essential strategy that significantly enhances customer satisfaction thus increasing the organizational competitiveness. According to Nathan and Rosso (2022), product innovation through introduction of new products and enhancement of the existing products is a fundamental innovation strategy that strengthens the company's ability to be more competitive.…”

Section: Product Innovationsupporting

confidence: 89%

“…These statistics demonstrate that the firms in the industry are facing mixed competitive advantage which can demonstrate that most of the firms lack a competitive edge. According to Kago et al (2018); Chou et al (2020); and Harjadi et al (2020), lack of sustainable competitive advantage has both short-term and long-term negative effectives of firms' competitive advantage and overall sustainability.…”

Section: Statement Of the Problemmentioning

confidence: 99%

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Innovation Strategies and Competitive Advantage of Insurance Firms in Kenya

Kisuya

Kihara²,

Macheru³

2023

JBSM

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Purpose: The main focus of the study was to establish effect of innovation strategies on competitive advantage of insurance firms in Kenya. The study was anchored on McKinsey 7S Framework, Transaction Cost Innovation Theory, Porter’s 5 Forces Model and Dynamic Capabilities theory, and it sought to establish the effect of product innovation strategy, process innovation strategy and marketing innovation strategy on competitive advantage of insurance firms in Kenya. In addition, the moderating effect of regulatory environment on the relationship between innovation strategy and competitive advantage of insurance firms in Kenya was tested given the importance of the regulator. Methodology: The study used a cross sectional survey design where all the 55 insurance firms operating in Kenya and were targeted. Through purposive sampling, the study targeted employees in management positions, either from administration, sales and marketing, strategic division or Finance department. Both primary and secondary data was used to achieve the study objectives where they were used to establish trends, descriptive and inferential statistics. Specifically, correlation and regression analysis were conducted to test empirically the relationship between the study variables. The study results were presented in form of Tables and Figures. Findings: The findings revealed that product innovation strategy had a significant and positive influence on the competitive advantage of insurance industry in Kenya. Process innovation was also found to positively and significantly contribute to the competitive advantage of insurance industry in Kenya. The findings further revealed that marketing innovation was essential in enhancing the competitive advantage of insurance industry in Kenya. Regulatory framework was found to significantly moderate the relationship between innovation strategies and competitive advantage of insurance industry in Kenya. The study concluded that innovation strategies (product innovation, process innovation and marketing innovation) are essential in determining the competitive advantage of insurance industry in Kenya. Unique Contributions to theory, practice and policy: It is therefore recommended that the management of the insurance companies ought to uphold innovation strategy through marketing innovation, product innovation and process innovation so as to stimulate the competitive advantage of their respective insurance companies. The regulatory body, IRA, ought to set a clear framework on policies and regulations that govern insurance innovations so as to set a level ground for the companies to embrace innovation and enhance their competitive advantage.

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Section: Product Innovationsupporting

confidence: 89%

Section: Statement Of the Problemmentioning

confidence: 99%

Innovation Strategies and Competitive Advantage of Insurance Firms in Kenya

Kisuya

Kihara²,

Macheru³

2023

JBSM

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“…7P marketing mix, which can be defined as a set of fundamental variables that strategists should decide on, is seen as the second most appeared sub-sub-theme. Herein, topics like price regulations and gouging (Chakraborti and Roberts, 2021), product characteristics (Harjadi, et al, 2020), marketing implications of 7P (Das, Jain, et al, 2021), advertising strategy (Robinson and Veresiu, 2021) and omni channels (Min, 2021;Verhoef, 2021) were studied. Furthermore, it is seen that social media and communication were studied as much as the 7P marketing mix as well.…”

Section: Marketingmentioning

confidence: 99%

“…In this sense, further research may focus on marketing strategies in sub-cultures by adopting ethnographic or nethnographic methods. Lastly, it would be beneficial to make an analysis based on a particular sector/specific form of organization for COVID-19 in the next research since only ten of marketing-related studies in the sample deal with particular sector/organization types such as retailing (Pantano, et al, 2020;Verhoef, 2021), hotels and tourism (Hoang, et al, 2021;Lebrun, et al, 2021), cruising (Castaldo, et al, 2021), sport (Hayes, 2020), food (Mehrolia, et al, 2021;, SMEs (Harjadi, et al, 2020;Amoah, et al, 2021), and fashion (Baek and Oh, 2021). These analyses may provide beneficial insights for the strategist in particular sectors/specific forms of organizations and may provide an opportunity to observe different impacts of COVID-19 on different fields.…”

Section: Marketingmentioning

confidence: 99%

Covid-19 Pandemisi Sırasında Stratejik Yönetim Literatüründe Neler Söylendi?

BİLGİÇ

AYDOĞAN

2022

Toros Üniversitesi İİSBF Sosyal Bilimler Dergisi

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Organizations are struggling with severe circumstances brought by COVID-19. When overly increased uncertainty and complexity in a pandemic are considered, strategic management has gained importance. Thus, researchers have focused on strategic management from different perspectives and this situation has led to that strategic management literature considering COVID-19 incredibly enlarged. Here, this research aims to show the architecture of the current literature and examine it with a holistic and critical perspective provided by using bibliometric analysis and critical systematic review concurrently. 226 articles were determined to represent the literature in two steps: (i) WOS search based on keywords and (ii) eliminating irrelevant articles by reading. To realize research aims, a twofold research method was adopted. By leveraging bibliometric analysis, the map of the current literature was shown. Then, a critical systematic review based on content analysis of 226 articles was carried out. Herein, more/less studied fields and future research directions were shared, and methods & levels of analysis of research were shared.

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“…With only capital from their founders and associates of their founders, firms face limits on their ability to grow. Facing further capital needs, firms often make initial public offerings (IPOs), through which they can raise substantial amounts of capital from outside investors (Berger & Udell, 2006;Carbo-Valverde et al, 2016;Harjadi et al, 2020;Nguyen, 2020). Although making an IPO and listing on a stock exchange are not precisely the same actions, they are usually regarded as being the same.…”

Section: Outline Of Capital Markets Of Smes and Startups In Koreamentioning

confidence: 99%

Capital Markets for Small- and Medium-sized Enterprises and Startups in Korea

Binh¹,

Jhang²,

Park³

et al. 2020

JAFEB

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This study describes the structure of the capital markets for small-and medium-sized enterprises (SMEs) and startup companies in Korea, which is an emerging market that has experienced drastic changes. The overall capital market can be divided into private and public capital markets. In the private capital market, most of the demand for capital comes from non-listed private firms, including startups and SMEs. In the case of SMEs and startups, the KOSDAQ, the Korea New Exchange (KONEX), and primary collateralized bond obligations (P-CBOs) are part of the public capital market. SMEs and startups are generally incapable of raising sufficient capital owing to their low credit ratings, and they largely have limited access to primary markets to issue shares and borrow money. The Korean government has developed a systematic financial aid program to provide funds to these companies. The fund for SMEs has significantly contributed to the development of the venture capital market. Many Korean banks provide substantial lending to SMEs, but this lending is available only because of the Korean government's loan recovery guarantee. Furthermore, SMEs can issue corporate debt in the form of primary collateralized bond obligations through government guarantees, but such debt issuances have placed increasing pressure on public guarantee institutions.

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Product Characteristics, Market Competitive Strategies, and SMEs Performance: Testing Their Relationships

Cited by 8 publications

References 0 publications

Innovation Strategies and Competitive Advantage of Insurance Firms in Kenya

Innovation Strategies and Competitive Advantage of Insurance Firms in Kenya

Covid-19 Pandemisi Sırasında Stratejik Yönetim Literatüründe Neler Söylendi?

Capital Markets for Small- and Medium-sized Enterprises and Startups in Korea

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