2024-01-15 | Hugo Alejandro Muñoz Bonilla, Ishtar Sofía Menassa Garrido, Liliana Rojas Coronado, Miguel Alejandro Espinoza Rodríguez
This article provides empirical evidence of a complex relationship between the types of innovation undertaken by micro and small restaurant enterprises (MSEs) and their specific factors of business survival (SFOBS). It is a quantitative, non-experimental, transectional, and correlational study with a probabilistic sample carried out with an ad hoc instrument validated by experts. The SEM structure established allows us to consider that innovating in the tangible elements of the service and in those that improve the empathy of the service generate positive impacts on the SFOBS, especially the size of the company by revenue. Likewise, the different intervening factors are interrelated, generating a synergy of business survival.
Keywords: innovations, mathematical models, small business, bankruptcy.
JEL Classification: 030; 039
The study examines the relationship between innovation in the service sector and business survival, focusing on micro and small restaurant enterprises (MSEs) in the municipality of Yumbo, Valle, Colombia. The research uses a quantitative, non-experimental, cross-sectional, and correlational approach to analyze the impact of innovation on business survival factors. The study finds that innovation in tangible service elements and those that enhance service empathy positively affects business survival factors, particularly the size of the company by revenue. The results indicate that different factors are interrelated, generating a synergy of business survival. The study also highlights the importance of considering the specific factors of business survival in the context of the restaurant sector, emphasizing the need for further research to understand the complex relationship between innovation and business survival in the service sector.This article provides empirical evidence of a complex relationship between the types of innovation undertaken by micro and small restaurant enterprises (MSEs) and their specific factors of business survival (SFOBS). It is a quantitative, non-experimental, transectional, and correlational study with a probabilistic sample carried out with an ad hoc instrument validated by experts. The SEM structure established allows us to consider that innovating in the tangible elements of the service and in those that improve the empathy of the service generate positive impacts on the SFOBS, especially the size of the company by revenue. Likewise, the different intervening factors are interrelated, generating a synergy of business survival.
Keywords: innovations, mathematical models, small business, bankruptcy.
JEL Classification: 030; 039
The study examines the relationship between innovation in the service sector and business survival, focusing on micro and small restaurant enterprises (MSEs) in the municipality of Yumbo, Valle, Colombia. The research uses a quantitative, non-experimental, cross-sectional, and correlational approach to analyze the impact of innovation on business survival factors. The study finds that innovation in tangible service elements and those that enhance service empathy positively affects business survival factors, particularly the size of the company by revenue. The results indicate that different factors are interrelated, generating a synergy of business survival. The study also highlights the importance of considering the specific factors of business survival in the context of the restaurant sector, emphasizing the need for further research to understand the complex relationship between innovation and business survival in the service sector.