Assessing the impact of Business Model Innovation on Micro, Small and Medium Firm Performance

Abstract

The purpose of this study is to examine the relationship between firm’s business model innovation and its performance. How micro, small and medium firms in Ghana creates value preposition for it customers.  The study conducted an empirical investigation into this phenomenon. A linear regression analysis was conducted in order to test the hypothesis stated for this study. According to the regression outcome it proved that business model innovation has a positive impact on firms performance in the micro, small and medium enterprises sector of Ghana. Firms that are able to innovative in its business model are able to gain access to new markets and revenue streams. Furthermore with the integration of customers into the value creation process it enables firms to deliver on it value preposition. And this aids in satisfying its current and potential customers.

Keywords: Micro, Small and Medium Enterprises, Business Model Innovation, Ghana, Value preposition, Firm Performance