Organizational Resilience, Innovation and Firm Performance: Moderating Role of Social Ties

Abstract

This study examines the impact of organizational resilience on innovation performance and firm performance in the hospitality sector in Ghana. Using data from key informants within the hospitality landscape, the findings indicate that organizational resilience has a positive and significant impact on innovation performance. Specifically, our results suggest that firms that develop resilience capabilities are more likely to engage in exploratory innovation, which involves developing new products, services, or business models that are not directly related to existing offerings. We also find that firms that invest in developing resilience capabilities, foster a culture of innovation, and focus on incremental innovations are more likely to achieve competitive advantage and long-term success. In addition, social ties appear to be particularly important for firms that are more resilient. These findings have important implications for managers in the hospitality industry in Ghana, as they highlight the importance of developing resilience capabilities to facilitate innovation and enhance firm performance in a highly uncertain and volatile industry.