Strategic innovation application in creative industries in Latvia

Abstract

The purpose of the research is to identify if the companies operating in the Creative industries (CI) in Latvia are aware of the importance of Strategic innovations (SI) and the role of SI in contributing to a company’s sustainability and, consequently, its competitiveness.

Design/methodology/approach - The chosen research method is the quantitative one that will enable to measure the hypothesis basing on statistical data. The survey of the research work sticks to a questionnaire, which contains 19 questions. The survey has been sent out to around randomly selected 500 creative industries companies, whereby the number of respondents comprises 58.

Findings - In order to successfully implement directions towards SI introduction and further development in CI companies, a focus could be set on the leadership activities, HRM team, and also professional associations. These three factors are able to crucially impact on the SI development in Latvia.

Research limitations/implications - The necessity of more advanced and comprehensive application of SI in CI is evident. Therefore, it would be important to extendedly provide further research evidence on the essence and positive effects of SI on business performance in CI.

Practical implications - For the implementation of SI a leadership team should distinctively communicate the company’s commitment to the particular innovation and underline the logic behind it. To enable that, leadership should illustrate clear and adequate signals concerning the significance of the activities and eradicate unnecessary ones.

Originality/value - The conducted research enabled to define the level of SI application within the framework of CI in Latvia.