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A revised model of exploratory learning and new product development speed in the savings and loans sector: a contingency analysis

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  • Frank Mawuyome Kwame Gamadey

    (Ghana Highway Authority)

  • Hod Anygiba

    (Nobel International Business School)

  • Victor Abbey

    (V5 Solutions)

Abstract

This paper investigates the impact of exploratory learning on new product development speed (NDPS). Aside from the direct relationship investigated, it further contributes to the body of knowledge by exploring the moderating role of organizational culture in the hypothesised relationships. Using a positivistic research approach, a sample of 400 respondents from the 37 Savings and Loans Companies in Ghana were surveyed. A 64% response rate (353 responses) was realized and the data analyzed using exploratory and confirmatory factor analysis and structural equation modelling. While exploratory learning was not found to have any significant effect on NPDS, the results showed that clan culture and hierarchy culture promoted a significant positive relationship between exploratory learning and NPDS. To effectively develop new products with speed through exploratory learning, managers of organizations need to enhance clan and hierarchy culture values among employees. This paper offers a developing country cum financial service sector insight into how exploratory learning might be impacting NPDS.

Suggested Citation

  • Frank Mawuyome Kwame Gamadey & Hod Anygiba & Victor Abbey, 2022. "A revised model of exploratory learning and new product development speed in the savings and loans sector: a contingency analysis," SN Business & Economics, Springer, vol. 2(10), pages 1-25, October.
    • Handle: RePEc:spr:snbeco:v:2:y:2022:i:10:d:10.1007_s43546-022-00321-3
    DOI: 10.1007/s43546-022-00321-3
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    References listed on IDEAS

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