Title: A Delphi-based study on the innovation practices in the Albanian financial sector

Authors: Amali Çipi; Enida Pulaj

Addresses: University of Vlora 'Ismail Qemali', Sheshi Pavarësia, 9401 Vlorë, Albania ' University of Vlora 'Ismail Qemali', Sheshi Pavarësia, 9401 Vlorë, Albania

Abstract: Based on an application of the Delphi technique, this paper aims to analyse the current situation of innovation practices in Albania, based on an application of the Delphi technique to a panel of Albanian financial institutions executives. Despite the short life of most of the financial companies in the Albanian trade market, results show that executives have a relatively good level of knowledge regarding the benefits of the innovation approach to the firm, but there is a lack of some innovation types used by their companies. Furthermore, there is a low level of investment amount to be spent in innovation, indicating a non-possibility to create new products or processes and thus not having the possibility to be a leader and create better promise for the company growth. Government is advised to consider innovation as a mediating factor to achieve better business performance and thus helping and promoting sustainable macroeconomic growth.

Keywords: innovation; technology innovation; product innovation; Albania; Delphi technique; financial companies.

DOI: 10.1504/IJITM.2020.104502

International Journal of Information Technology and Management, 2020 Vol.19 No.1, pp.19 - 32

Received: 18 Mar 2017
Accepted: 12 Sep 2017
Published online: 16 Jan 2020 *

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