A lot of research studies have shown that a direct and positive relationship exists between innovative strategies (IS) and an organisational performance. However, the relationship may not be simple and clear to understand. This study used a qualitative, simple descriptive case study approach to critically investigate the level of innovative strategies approach to the growth of Compressor Techniques Limited, Ghana. A semi-structured questionnaire was utilised to interview employees (participants) at Compressor Techniques Limited to gather primary data for the study. Purposeful sampling was used to select twenty (20) participants who have worked in the organisation five years and above to gather rich data for the data analysis. The research findings showed the company organizes workshops and seminars to improve upon the abilities of employees. It was recommended that the organization should regularly review and update their internal structures and decision-making processes for approving innovative projects so that the company can reach its productivity goals.
Top1. Background Of The Study
Innovative strategies (IS) have become associated with our 21st century world of business and has gained significant traction because of advancement in technology and creativity (Kiyabo & Isaga, 2020). Scholars in the field of innovative strategies and management have given much focus on the meteoric rise of business in both developing and developed country because of innovative strategies (Meekaewkunchorn, Szczepaska-Woszczyna, Muangmee, Kassakorn, & Khalid, 2021). Innovative strategies can be defined as the decision-making styles and practices initiated by management to foster creativity and growth within the organisation’s growth (Okangi, 2019). In essence, innovative strategies seek to promote organisational creativity and commitment. The quest to achieve enhanced organisational performance is often derived from intentional internal behaviour that support critical change process. Over the past decade, there has been a growing number of research exploring the notion of IS and the impact the concept has on organisational performance of varying sizes (Abu-Rumman et al., 2021; Jeong et al., 2019). There has been some evidence linking IS to expansion, but the investigations have had mixed outcomes (Kiyabo & Isaga, 2020). Specifically, the internal behaviour is focused on producing exceptional results and a distinct and long-lasting advantage (Abu-Rumman, Al Shraah, Al-Madi & Alfalah, 2021). Similarly, Hossain and Al Asheq (2019) stated that the primary goal of IS is to create a new inner drive that enables the creation of organisational structure and ensures the organization's survival.
Underpinning any organisation’s competitiveness, superior performance and corporate development is the desire by management to create a proactive and risk-taking innovative strategy (Okangi, 2019). There are ample research highlighting the relationship between innovative strategies and an organisational productivity (Kiyabo & Isaga, 2020; Galbreath et al., 2020; Abu-Rumman et al., 2021). However, studies show that the efficiency implications of IS are not uniform and rely on a wide range of internal and external contingency factors, such as a company's resources and capabilities, its industry, and its environment (Jeong, Ali, Zacca, & Park, 2019). (Zhang, Wang, & Jia, 2021).
There have been a lot of scholars who have claimed that it is not enough to only evaluate how each person's innovative attitude effects the performance of an organisation. Additionally, recent scholarly works articulate that IS should be combined with other innovative strategies, such as market innovative strategies, learning innovative strategies, and employee innovative strategies, in order to achieve the highest possible level of performance (Eshima & Anderson, 2017).
This study was conducted within the context of a small-scale size organisation that has utilised innovative strategies in its approach to its growth since its birth in 2009. It has contributed substantially in terms of jobs, the generation of tax income, the generation of money from exports and imports, the facilitation of the distribution of commodities, and the development of human resources. Specifically, several medium organisations have contributed significantly to employment opportunities available to persons living in both rural and urban regions with lower incomes and their role cannot be ignored (Galbreath et al., 2020).