ROLES OF ENTREPRENEURIAL MINDSET AND BUSINESS MODEL INNOVATION TO PRODUCT INNOVATION OF TECH-BASED FIRMS

Nguyễn Thị Hạnh; Nguyễn Phương Hoa

doi:10.34238/tnu-jst.9464

ROLES OF ENTREPRENEURIAL MINDSET AND BUSINESS MODEL INNOVATION TO PRODUCT INNOVATION OF TECH-BASED FIRMS

About this article

Received: 22/12/23 Revised: 02/02/24 Published: 02/02/24

Authors

1. Nguyen Thi Hanh , Foreign Trade University
2. Nguyen Phuong Hoa, Foreign Trade University

Abstract

This study is designed to validate the impact of entrepreneurial mindset on product innovation outcomes in technology-based enterprises while concurrently examining the mediating influence of business model innovation. Anchored in the opportunity innovation theory, the model and research hypotheses underwent empirical testing through a structured questionnaire survey conducted in technology-based businesses across Vietnam. The dataset, derived from 163 valid responses obtained from mid to senior-level managers, facilitated a robust analysis. Employing a partial least squares structural equation modeling approach, the study meticulously investigates the managerial interplay among entrepreneurial mindset, business model innovation, and product innovation outcomes. The results unequivocally demonstrate a positive influence of entrepreneurial mindset on product innovation, with business model innovation playing a partial mediating role in this relationship. This research underscores the pivotal roles played by entrepreneurial mindset and business model innovation in shaping product innovation outcomes within technology-based enterprises in developing nations. Furthermore, these businesses are encouraged to implement the research findings for practical application actively.

Keywords

Entrepreneurial mindset; Product innovation; New product development; Business model innovation; Tech-based firms

Full Text:

PDF

References

[1] A. Haug, K. A. Wickstrom, J. Stentoft, and K. Philipsen, “The impact of information technology on product innovation in SMEs: The role of technological orientation,” Journal of Small Business Management, vol. 61, no. 2, pp. 384-410, 2023.

[2] X. Wei, R. Liu, and W. Chen, “Meta theories of technological innovation based on the analysis of classic texts,” Heliyon, vol. 9, no. 6, pp. 1-16, 2023.

[3] K. Tajeddini, T. C. Gamage, J. Tajdini, S. A. Qalati, and F. Siddiqui, “Achieving sustained competitive advantage in retail and consumer service firms: The role of entrepreneurial orientation and entrepreneurial bricolage,” Journal of Retailing and Consumer Services, vol. 75, pp. 1-15, 2023, Art. no. 103495.

[4] N. J. Foss and T. Saebi, “Fifteen years of research on business model innovation: How far have we come, and where should we go?” Journal of management, vol. 43, no. 1, pp. 200-227, 2017.

[5] S. Wittfoth, T. Berger, and M. G. Moehrle, “Revisiting the innovation dynamics theory: How effectiveness- and efficiency-oriented process innovations accompany product innovations,” Technovation, vol. 112, 2022, Art. no. 102410.

[6] F. Hermundsdottir and A. Aspelund, “Sustainability innovations and firm competitiveness: A review,” Journal of Cleaner Production, vol. 280, 2021, Art. no. 124715.

[7] M. Iqbal and A. Suzianti, “New Product Development Process Design for Small and Medium Enterprises: A Systematic Literature Review from the Perspective of Open Innovation,” Journal of Open Innovation: Technology, Market, and Complexity, vol. 7, no. 2, 2021, Art. no. 153.

[8] W. L. Lin, N. Yip, J. A. Ho, and M. Sambasivan, “The adoption of technological innovations in a B2B context and its impact on firm performance: An ethical leadership perspective,” Industrial Marketing Management, vol. 89, pp. 61-71, 2020.

[9] K. Malloch, “Innovation Leadership: New Perspectives for New Work,” Nursing Clinics of North America, vol. 45, no. 1, pp. 1-9, 2010.

[10] J. L. Ferreras-Méndez, J. Olmos-Peñuela, A. Salas-Vallina, and J. Alegre, “Entrepreneurial orientation and new product development performance in SMEs: The mediating role of business model innovation,” Technovation, vol. 108, 2021, Art. no. 102325.

[11] T. Clauss, “Measuring business model innovation: conceptualization, scale development, and proof of performance,” R&d Management, vol. 47, no. 3, pp. 385-403, 2017.

[12] R. B. Bouncken and V. Fredrich, “Business model innovation in alliances: Successful configurations,” Journal of Business Research, vol. 69, no. 9, pp. 3584-3590, 2016.

[13] C. Nakata and J. Hwang, “Design thinking for innovation: Composition, consequence, and contingency,” Journal of Business Research, vol. 118, pp. 117-128, 2020.

[14] T. H. Nguyen, “A comparative analysis of startups financing in Vietnam,” Journal of International Economics and Management, vol. 20, no. 1, pp. 65-79, 2020.

[15] J. Henseler, C. M. Ringle, and M. Sarstedt, “Using partial least squares path modeling in advertising research: basic concepts and recent issues,” Handbook of research on international advertising. Edward Elgar Publishing, 2012.

[16] J. Alegre and R. Chiva, “Linking entrepreneurial orientation and firm performance: The role of organizational learning capability and innovation performance,” Journal of small business management, vol. 51, no. 4, pp. 491-507, 2013.

[17] G. T. Lumpkin and G. G. Dess, “Linking two dimensions of entrepreneurial orientation to firm performance: The moderating role of environment and industry life cycle,” Journal of Business Venturing, vol. 16, no. 5, pp. 429-451, 2001.

[18] A. Asemokha, J. Musona, L. Torkkeli, and S. Saarenketo, “Business model innovation and entrepreneurial orientation relationships in SMEs: Implications for international performance,” Journal of International Entrepreneurship, vol. 17, pp. 425-453, 2019.

[19] F. Ciampi, S. Demi, A. Magrini, G. Marzi, and A. Papa, “Exploring the impact of big data analytics capabilities on business model innovation: The mediating role of entrepreneurial orientation,” Journal of Business Research, vol. 123, pp. 1-13, 2021.

[20] T. Clauss, M. Abebe, C. Tangpong, and M. Hock, “Strategic agility, business model innovation, and firm performance: an empirical investigation,” IEEE Transactions on Engineering Management, vol. 68, no. 3, pp. 767-784, 2019.

DOI: https://doi.org/10.34238/tnu-jst.9464

Refbacks

There are currently no refbacks.



Remember me