HOSPITALITY

This study analyzes the impact of organizational resilience on innovation and firm performance in the hospitality sector in Ghana. The research employed a quantitative method, using data from key informants within the hospitality industry. The findings reveal that organizational resilience has a positive and significant effect on innovation performance, which is essential in a constantly changing business environment. Developing new products, services, and processes can give businesses a competitive advantage. Participants will be chosen using a random sampling technique to ensure a fair representation. The results suggest that firms that develop resilience capabilities are more likely to engage in exploratory innovation, which involves creating new offerings not directly linked to existing ones. Additionally, firms that invest in developing resilience capabilities, foster a culture of innovation, and focus on incremental innovations are more likely to achieve a competitive advantage and long-term success. The findings also suggest that social ties are crucial for firm resilience. By using cross-sectional data from respondents in the hospitality industry, the study revealed a positive association between organizational resilience, innovation, and firm performance. The relationship between organizational resilience and firm performance had an R2 value of 0.238. These findings have significant implications for managers in the hospitality industry in Ghana. They highlight the importance of developing resilience capabilities to facilitate innovation and enhance firm performance in a highly uncertain and volatile industry.

Author(s) Details:

Lydia Asare-Kyire,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.

Owusu Ackah,
Jayee University College, Ghana.

Charles Akomea Bonsu,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.

William Ansah Appienti,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.

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