Authors: Ma. Cresilda M. Caning and Divina M. Edralin
Year: 2019, Volume 28 No. 3
Innovation as an output and as a process is the result of new combinations created by the entrepreneur (Schumpeter, 1934). In this exploratory study, we investigated the case of four women entrepreneurs from Camarines Sur to determine their innovation strategies and their implication to their business performance. We compared the degree by which these Entrepinays implement innovation practices based on the OSLO Innovation Measurement Framework. This framework specifies four types of innovation, namely: product, process, marketing, and organizational innovation. Based on the content analysis of our data gathered from the one-on-one interview, our results revealed that the Bicolana entrepreneurs implemented more of marketing and organizational innovation strategies. Marketing innovation practices are manifested in their active search and introduction of new sales channels, continuing effort to find new ways to promote their goods and services, and the effective use of branding as a differentiation strategy. Organizational innovation practices are evident in the way they establish relationships and collaborate with other people and companies. Within their respective enterprise, these Entrepinays motivate
and improve their workers’ performance and retain their loyalty through various human resource development practices. Our findings also showed that all the women entrepreneurs are able to pinpoint that their conscious effort to adopt and implement innovative marketing and organizational practices have contributed to the profitability, productivity, and existence of their business in Bicol for years. We proposed that a bigger sample size of respondents and area coverage be undertaken on the innovative practices of other Entrepinays to depict a picture of the innovative landscape of the province which can provide important data for policy-making purposes that can benefit women entrepreneurs at large.
Keywords: innovation strategy, innovation, entrepreneurship, women entrepreneurs
JEL Classifications: L21, L23, L25, L26