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Article
Publication date: 25 January 2021

Measuring innovation effectiveness: a SEM-based cross-lagged analysis

Tahseen Anwer Arshi, Venkoba Rao, Sumithra Viswanath and Vazeerjan Begum

The study aims to develop measures for innovation effectiveness impacting organizational performance outcomes. Substantial evidence suggests that measuring innovation…

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Abstract

Purpose

The study aims to develop measures for innovation effectiveness impacting organizational performance outcomes. Substantial evidence suggests that measuring innovation effectiveness (IE) continues to be challenging because of the use of different measures across innovation’s broad spectrum. The purpose of this study is to overcome it by examining multiple drivers of IE in emerging market economies (EMEs) and predicting their impact on financial and nonfinancial performance outcomes.

Design/methodology/approach

Through a two-wave panel design, firms from India, Oman and the United Arab Emirates participated in the study with a time lapse of 12 months (T1n = 417, T2n = 403). Four cross-lagged competing models are tested for autoregressive, causal, reversed and reciprocal effects using structural equation modeling (SEM).

Findings

The findings show that the synergistic effect of multiple innovation characteristics, such as innovation degree, cost, frequency and speed determines its endogenous effectiveness. The exogenous effectiveness of innovation is further established through its impact on financial and nonfinancial performance outcomes. Furthermore, readiness for innovation (RFI) is a critical factor that moderates the relationship between drivers and IE.

Practical implications

The study’s findings could inform practitioners in emerging market economies about the appropriate measures of IE. It will guide managerial decisions on making an investment, evaluation, accountability and strategic choices related to innovation.

Originality/value

It is one of the first studies that use a time-based lens to examine IE in EMEs. It posits that given the innovation’s complexity, IE needs to be measured at multiple levels. The study explains how evolutionary dynamics in different sociocultural contexts can bring a new perspective into theory of diffusion of innovation. The moderating role of RFI brings new insights into the IE process and emphasizes its importance in objective-driven and performance-focused innovation efforts.

Details

International Journal of Innovation Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/IJIS-08-2020-0111
ISSN: 1757-2223

Keywords

  • Measurement
  • Innovation strategy
  • Organizational readiness
  • Innovation types
  • Systematic innovation

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Article
Publication date: 6 August 2020

SECURE – a new business model framework for measuring start-up performance

Tahseen Anwer Arshi, Venkoba Rao, Sardar Islam and Swapnil Morande

Existing business model frameworks show weak conceptual unification, a paucity of measurement focus and limitations when applied in emerging economies. The study proposes…

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Abstract

Purpose

Existing business model frameworks show weak conceptual unification, a paucity of measurement focus and limitations when applied in emerging economies. The study proposes a new business model framework – “Start-up Evaluation Calculus Using Research Evidence” (SECURE). The purpose of this study is to allow the measurement of the impact of business model design on start-up performance in emerging economies.

Design/methodology/approach

Data collected from 713 entrepreneurs in select cities of India, Oman and the United Arab Emirates is analyzed through structural equation modeling. The study uses measurement and structural models to examine the validity of measures and additionally tests the five hypothesized relationships proposed in the study.

Findings

The SECURE’s components comprising desirability, marketability, feasibility, scalability and viability showed validity and reliability. They synergistically demonstrated a statistically significant effect on a mix of financial and non-financial start-up performance outcomes. An alternative structural relationship that examined the impact of SECURE on only financial performance outcomes showed a weaker model fit. The findings indicate that a business model framework is useful when its ex ante measures show a positive causal effect on the desired performance outcomes.

Practical implications

The scores obtained by the SECURE framework serve as an evaluative tool that informs entrepreneurs and start-ups on the readiness of their proposed, incubated or existing start-ups.

Originality/value

Replacing subjective judgments with objective assessment criteria, SECURE is one of the first quantitative and performance-driven business model frameworks that contain measures from all functional domains of a start-up business. Start-ups can evaluate their business models against the SECURE model’s research-driven quantitative criteria and assess their impact on start-up performance.

Details

Journal of Entrepreneurship in Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/JEEE-02-2020-0043
ISSN: 2053-4604

Keywords

  • Emerging economies
  • Evaluation framework
  • Start-up performance
  • Start-up business model
  • Quantitative measurement

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