Sector of the tourism industry that comprises a growing competitive activity that sustains a representative position in the tourism production chain and requires the ability to constantly adapt to the changes, needs and desires of the customer, as the satisfaction, safety and pleasure of the tourist have a vital role in generating wealth and employment in any country, with implications for the economy, the environment and the population.
Published in Chapter:
Linking Open Innovation and Firm Performance
Francisco Eugenio Musiello-Neto (University of Rovira i Virgili, Brazil), Orlando Manuel Martins Marques Lima Rua (Center for Organisational and Social Studies, Porto School of Accounting and Business, Polytechnic of Porto, Portugal & Research Center of Business Sciences, University of Beira Interior, Portugal), and Mario Arias-Oliva (Complutense University of Madrid, Spain)
Copyright: © 2022
|Pages: 22
DOI: 10.4018/978-1-7998-8665-5.ch009
Abstract
This study aims to analyze the relationship between open innovation and firm performance. A quantitative methodology was adopted with a survey of 251 small and medium-sized enterprise (SME) top managers in the hospitality sector, particularly in hotels. The primary data collected were subjected to descriptive and inferential statistical analysis treatments, highlighting the application of the structural equations model. The findings show that open innovation enhances hotel performance. In practical terms, this study will guide, on the one hand, the firms' top managers of the hospitality sector in the definition of open innovation strategies to develop the relevant resources and capacities for achieving superior performance. On the other hand, it can contribute to the meaning of effective government programs to support firms in this sector.