Authors: Le Thi Thu Ha; Dao Trung Kien; Dong Xuan Dam; Nguyen Quang Huy
Addresses: FTU Innovation and Incubation Space (FIIS), Foreign Trade University, 91 Chua Lang, Dong Da, Hanoi, Vietnam ' Faculty of Economics and Business, Phenikaa University, To Huu, Yen Nghia, Ha Dong, Hanoi, Vietnam; School of Economics and Management, Hanoi University of Economics and Management, 01 Dai Co Viet, Hai Ba Trung, Hanoi, Vietnam ' International School of Management and Economics, National Economics University, 207 Giai Phong, Hai Ba Trung, Hanoi, Vietnam ' FTU Innovation and Incubation Space (FIIS), Foreign Trade University, 91 Chua Lang, Dong Da, Hanoi, Vietnam
Abstract: Innovativeness is usually considered to be the key to the survival and development of firms in the context of increasing competition in the global market. However, studies on the link between innovativeness and business performance of firms have not been studied much in Vietnam. Therefore, the research aims to identify and assess the impact of innovativeness on four perspectives in balanced scorecard including customers, finance, internal processes, employee learning and growth. Results from 144 responses out of 670 surveys on Japanese firms investing in Vietnam showed that innovativeness has a significant impact on business performance in both financial and non-financial aspects. Additionally, improving non-financial performance also has a positive impact on financial performance in firms. This conjointly implies that in the context of the increasingly spirited market as it is today to survive and develop in the long run, firms need to specialise in improving innovativeness to extend business performance efficiency.
Keywords: innovativeness; BSC; financial performance; non-financial performance; Japanese firms in Vietnam.
International Journal of Innovation and Learning, 2020 Vol.28 No.2, pp.159 - 179
Received: 13 Feb 2019
Accepted: 18 Jun 2019
Published online: 12 Aug 2020 *