Dec'23

Articles

Impact of Entrepreneurial Innovation on Firm Performance: An Empirical Investigation with Emphasis on Women Entrepreneurs

Sania Sami
Ph D Scholar, Indian Institute of Social Welfare and Business Management, Kolkata, West Bengal, India; and is the corresponding author. E-mail: saniasharique656@gmail.com

Roychowdhury S
Professor, Indian Institute of Social Welfare and Business Management, Kolkata, West Bengal, India. E-mail: srcdb@rediffmail.com

Innovativeness has been recognized as a crucial driver for a firm's success and survival. Innovation creates and builds value for the organization. This study examines the effect of different factors of innovation on firm performance. Data was collected from 250 women entrepreneurs across West Bengal based on random sampling. Exploratory factor analysis, multiple regression, analysis of variance, and correlation statistical techniques were used to analyze the data. The findings reveal that there exists a positive and strong relationship between many factors of innovation and firm performance. It was also found that all the factors of innovation are major and crucial predictors of firm performance. The amount of investment and business type are the only two socioeconomic variables that contribute significantly to predicting business performance. Further, the study found that there exists a significant difference between process and market innovation across different business types. The findings also suggest that choosing relevant innovation type can optimize firm performance.

Introduction