Title: The relationship between strategic orientation, the degree of innovation and the financial efficiency in the food industry

Authors: Ioannis Varvaras; Stamatis Aggelopoulos; Alexandra Pavloudi

Addresses: University of Nicosia, Makedonitissis 46, Nicosia 2417, Cyprus ' School of Agriculture, International Hellenic University, Thessaloniki, Greece ' School of Agriculture, International Hellenic University, Thessaloniki, Greece

Abstract: The growing competitiveness between businesses in the food sector has increased the interest to understand the indicators affecting competitive advantage and to comprehend the correlation between those. The proposed theoretical framework examines the relationship between the three indicators Strategic Orientation, Innovativeness and Financial Results, and how they correlate. This paper aims to evaluate the relationship between the above indicators and to examine the validity of the proposed conceptual framework. In order to test this model, structural equation model (SEM) is applied to the cheese industry in Greece. The results of the empirical analysis led us to the conclusion that in the food sector and particularly in the cheese industry in Greece, Strategic Orientation, Innovativeness and Financial Results interdepend and are related to each other.

Keywords: strategic orientation; innovativeness; financial results; competitiveness; food sector; cheese industry.

DOI: 10.1504/JGBA.2020.110626

Journal for Global Business Advancement, 2020 Vol.13 No.2, pp.185 - 204

Received: 24 May 2020
Accepted: 26 May 2020
Published online: 26 Oct 2020 *

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