Cultural orientations and product innovation in the Ghanaian banking sector

The Ghanaian banking sector plays a major role in the socio-economic development of the country. However, the banks are faced with many challenges which include growing customers' demands, inadequate innovation practices and poor financial performance. With the advent of Information Communicati...

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Published in:	The Service industries journal Vol. 40; no. 7-8; pp. 518 - 541
Main Authors:	Asaah, Jenkins Atarisigna, Yunfei, Shao, Wadei, Kwame Ansong, Nkrumah, Kofi Frimpong Adasa
Format:	Journal Article
Language:	English
Published:	London Routledge 10-06-2020 Taylor & Francis Ltd
Subjects:	Bank technology Banking Banking industry compete-oriented culture Culture extrinsic motivators financial performance Innovate-oriented culture Innovations product innovation 以创新为导向的文化，以竞争为导向的文化，产品创新，金融状况，外在推动力 Ghana
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Abstract	The Ghanaian banking sector plays a major role in the socio-economic development of the country. However, the banks are faced with many challenges which include growing customers' demands, inadequate innovation practices and poor financial performance. With the advent of Information Communication Technologies (ICTs), there are calls for the banks to be more innovative. The paper explores the influence of organizational cultural orientations on product innovation. It also examines the moderating effect of extrinsic motivators on such relationships. Hypotheses were formulated and tested using data collected from the banking sector in Ghana. The findings are that innovate-oriented and compete-oriented cultures have a direct positive influence on product innovation. Both Informational Extrinsic Motivators (IEMs) and Controlling Extrinsic Motivators (CEMs) moderate the relationship between innovate-oriented, compete-oriented cultures and product innovation such that they diminish the positive relationship that exists between such variables. The paper offers theoretical contribution and managerial implications which are discussed.
AbstractList	The Ghanaian banking sector plays a major role in the socio-economic development of the country. However, the banks are faced with many challenges which include growing customers' demands, inadequate innovation practices and poor financial performance. With the advent of Information Communication Technologies (ICTs), there are calls for the banks to be more innovative. The paper explores the influence of organizational cultural orientations on product innovation. It also examines the moderating effect of extrinsic motivators on such relationships. Hypotheses were formulated and tested using data collected from the banking sector in Ghana. The findings are that innovate-oriented and compete-oriented cultures have a direct positive influence on product innovation. Both Informational Extrinsic Motivators (IEMs) and Controlling Extrinsic Motivators (CEMs) moderate the relationship between innovate-oriented, compete-oriented cultures and product innovation such that they diminish the positive relationship that exists between such variables. The paper offers theoretical contribution and managerial implications which are discussed.
Author	Yunfei, Shao Nkrumah, Kofi Frimpong Adasa Wadei, Kwame Ansong Asaah, Jenkins Atarisigna
Author_xml	– sequence: 1 givenname: Jenkins Atarisigna orcidid: 0000-0002-7643-6391 surname: Asaah fullname: Asaah, Jenkins Atarisigna email: Jenkins.asaah@yahoo.com, 2647796691@qq.com organization: School of Management and Economics, University of Electronic Science and Technology of China – sequence: 2 givenname: Shao surname: Yunfei fullname: Yunfei, Shao organization: School of Management and Economics, University of Electronic Science and Technology of China – sequence: 3 givenname: Kwame Ansong surname: Wadei fullname: Wadei, Kwame Ansong organization: School of Management and Economics, University of Electronic Science and Technology of China – sequence: 4 givenname: Kofi Frimpong Adasa surname: Nkrumah fullname: Nkrumah, Kofi Frimpong Adasa organization: School of Management and Economics, University of Electronic Science and Technology of China
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Snippet	The Ghanaian banking sector plays a major role in the socio-economic development of the country. However, the banks are faced with many challenges which...
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SubjectTerms	Bank technology Banking Banking industry compete-oriented culture Culture extrinsic motivators financial performance Innovate-oriented culture Innovations product innovation 以创新为导向的文化，以竞争为导向的文化，产品创新，金融状况，外在推动力
Title	Cultural orientations and product innovation in the Ghanaian banking sector
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