Psychological capital of employee and innovativeness of Small and Medium-Sized Enterprises (SMEs)

https://doi.org/10.35912/joste.v5i3.2242
Published: Aug 21, 2024

Abstract:

Purpose: This study explores the association between employees (PsyCap) and the innovation ability of Small and Medium-Sized Enterprises (SMEs).

Research methodology: A descriptive correlational research design was employed, involving 150 respondents selected through simple random sampling. Two adapted questionnaires were used to measure PsyCap and innovation outcomes.

Results: The results revealed A The strong positive relationship between employees' PsyCap and innovation outcomes (p<0.000, R=0.650), particularly creativity, risk-taking, and problem-solving. These findings underscore the importance of PsyCap as a significant predictor of innovative behavior within SMEs.

Limitations: The study's limitations include its focus on SMEs, which may limit the generalizability of the results to larger organizations or different geographical regions. Despite this, the study contributes valuable insights into Human Resource Management (HRM) practices, emphasizing the need for targeted employee training and strategic organizational growth initiatives.

Contributions: The findings highlight the critical role of Psychological Capital in fostering innovation and offer practical implications for enhancing competitiveness and sustainability in SMEs through the development of employees' psychological resources.

Keywords:
1. Psychological Capital
2. Innovation
3. SMEs
4. Correlational Design
5. HRM
Authors:
1 . Prince Lenard R. Salubre
Santo Tomas College of Agriculture Sciences and Technology, Philippines
2 . Junalyn L. Bahalla
Santo Tomas College of Agriculture Sciences and Technology, Philippines
3 . Ronald E. Almagro
Santo Tomas College of Agriculture Sciences and Technology, Philippines
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How to Cite
Salubre, P. L. R., Bahalla, J. L., & Almagro, R. E. (2024). Psychological capital of employee and innovativeness of Small and Medium-Sized Enterprises (SMEs). Journal of Sustainable Tourism and Entrepreneurship, 5(3), 203–223. https://doi.org/10.35912/joste.v5i3.2242
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Issue & Section
Vol. 5 No. 3 (2024): May
Articles
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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

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  2. Ahmed, T., & Siddiqui, D. A. (2021). The Effect of 30 Global Risk on SME Performance in Pakistan: The Role of Entrepreneurial Orientation. Available at SSRN 3943065.
  3. Alshebami, A. S. (2021). The influence of psychological capital on employees’ innovative behavior: mediating role of employees’ innovative intention and employees’ job satisfaction. Sage Open, 11(3), 21582440211040809.
  4. Aluonzi, B., Byamukama, E., Marus, E., & Charity, T. (2024). Credit risk management: An imperative for profitability of Centenary Bank Kabale Branch. International Journal of Financial, Accounting, and Management, 6(1), 19-31.
  5. Alzougool, B. (2019). The innovativeness of small and medium enterprises in Kuwait. Journal of Advanced Management Science Vol, 7(4), 142-147.
  6. Antonioli, D., & Montresor, S. (2021). Innovation persistence in times of crisis: an analysis of Italian firms. Small Business Economics, 56(4), 1739-1764.
  7. Ayala, J.-C., & Manzano, G. (2014). The resilience of the entrepreneur. Influence on the success of the business. A longitudinal analysis. Journal of Economic Psychology, 42, 126-135.
  8. Aziri, B. (2011). Job satisfaction: A literature review. Management research & practice, 3(4).
  9. Bahrami, K., Taghizadeh, H., & Honarmand Azimi, M. (2022). Innovation Capability Based on Clustering and Ranking Approach (Case Study: Food and Beverage Industries of Urmia Metropolis). Journal of System Management, 8(4), 19-32.
  10. Bandura, A. (2001). Social cognitive theory: An agentic perspective. Annual review of psychology, 52(1), 1-26.
  11. Bartik, A. W., Bertrand, M., Cullen, Z. B., Glaeser, E. L., Luca, M., & Stanton, C. T. (2020). How are small businesses adjusting to COVID-19? Early evidence from a survey. Retrieved from
  12. Bendak, S., Shikhli, A. M., & Abdel-Razek, R. H. (2020). How changing organizational culture can enhance innovation: Development of the innovative culture enhancement framework. Cogent Business & Management, 7(1), 1712125.
  13. Burgelman, R. A., & Chanda, S. (2024). Autonomous strategic behavior, organizational learning and top management support: Re-examining field research with computational modeling. Strategic Management Review.
  14. Calik, E., Cetinguc, B., & Calisir, F. (2020). A comprehensive validated model of innovation and performance: an empirical study of Turkish companies. International Journal of Innovation and Technology Management, 17(03), 2050019.
  15. Chakilia, S., & Ahado, H. E. (2024). The role of financial and marketing services on rural shea-producing women. International Journal of Financial, Accounting, and Management, 6(1), 93-104.
  16. Ciftci, D. O., & Erkanli, H. (2020). Mediating role of the positive psychological capital on the relation between the authentic leadership style and employees' work engagement: An applied study on hospitality industry 1. Business and Economics Research Journal, 11(2), 461-478.
  17. Darvishmotevali, M., & Ali, F. (2020). Job insecurity, subjective well-being and job performance: The moderating role of psychological capital. International journal of hospitality management, 87, 102462.
  18. Delgado, E. M., & Moreno, R. G. (2021). The effects of COVID-19 pandemic on small and medium enterprises. International Journal of Academe and Industry Research, 2(4), 57-78.
  19. Diarti, Y., & Hesniati, H. (2024). Factors affecting consumers intention in purchasing eco-friendly cosmetic products in Batam City. International Journal of Financial, Accounting, and Management, 6(1), 33-46.
  20. Doyle, L., McCabe, C., Keogh, B., Brady, A., & McCann, M. (2020). An overview of the qualitative descriptive design within nursing research. Journal of research in nursing, 25(5), 443-455.
  21. Duy, D. T., Lan, N. T. X., Quang, T. T., & Tú, T. T. (2023). Impact of social capital, knowledge sharing on Innovation Capability: The case of office staff in Ho Chi Minh City. Science & Technology Development Journal: Economics-Law & Management, 7(1), 4162-4180.
  22. Giancotti, M., & Mauro, M. (2020). Building and improving the resilience of enterprises in a time of crisis: from a systematic scoping review to a new conceptual framework. Economia Aziendale Online-, 11(3), 307-339.
  23. Goh, E., & Sigala, M. (2020). Integrating Information & Communication Technologies (ICT) into classroom instruction: teaching tips for hospitality educators from a diffusion of innovation approach. Journal of teaching in travel & tourism, 20(2), 156-165.
  24. Goni, J. I. C., & Van Looy, A. (2022). Process innovation capability in less-structured business processes: a systematic literature review. Business Process Management Journal, 28(3), 557-584.
  25. Hackman, J. R., & Oldham, G. R. (1976). Motivation through the design of work: Test of a theory. Organizational behavior and human performance, 16(2), 250-279.
  26. Hanifah, H., Halim, H. A., Ahmad, N. H., & Vafaei-Zadeh, A. (2020). Can internal factors improve innovation performance via innovation culture in SMEs? Benchmarking: An International Journal, 27(1), 382-405.
  27. Hobfoll, S. E. (1989). Conservation of resources: a new attempt at conceptualizing stress. American psychologist, 44(3), 513.
  28. Holub-Iwan, J., Kupczyk, T., Debita, G., & Rupa, P. (2021). Leadership and Effectiveness of Incubation of Start-Ups: Research Scheme for Next Generation Stage Gate. European Research Studies Journal, 24(4), 797-818.
  29. Huynh, T. N., & Hua, N. T. A. (2020). The relationship between task-oriented leadership style, psychological capital, job satisfaction and organizational commitment: evidence from Vietnamese small and medium-sized enterprises. Journal of Advances in Management Research, 17(4), 583-604.
  30. Istiqomah, S., & Riani, A. L. (2021). Linking transformational leadership to OCB in hospitality industry: The mediating influence of affective commitment and work engagement. JDM (Jurnal Dinamika Manajemen), 12(1), 53-67.
  31. Karimi, S., Ahmadi Malek, F., Yaghoubi Farani, A., & Liobikien?, G. (2023). The role of transformational leadership in developing innovative work behaviors: The mediating role of employees’ psychological capital. Sustainability, 15(2), 1267.
  32. Khalid, A., Pan, F., Li, P., Wang, W., & Ghaffari, A. S. (2020). The impact of occupational stress on job burnout among bank employees in Pakistan, with psychological capital as a mediator. Frontiers in public health, 7, 410.
  33. Kuckertz, A., Brändle, L., Gaudig, A., Hinderer, S., Reyes, C. A. M., Prochotta, A., . . . Berger, E. S. (2020). Startups in times of crisis–A rapid response to the COVID-19 pandemic. Journal of Business Venturing Insights, 13, e00169.
  34. Kumar, D., Upadhyay, Y., Yadav, R., & Goyal, A. K. (2022). Psychological capital and innovative work behaviour: The role of mastery orientation and creative self-efficacy. International journal of hospitality management, 102, 103157.
  35. Kun, A., & Gadanecz, P. (2022). Workplace happiness, well-being and their relationship with psychological capital: A study of Hungarian Teachers. Current Psychology, 41(1), 185-199.
  36. Kurt, N., & Demirbolat, A. O. (2019). Investigation of the relationship between psychological capital perception, psychological well-being and job satisfaction of teachers. Journal of education and learning, 8(1), 87-99.
  37. Le, P. B. (2020). How transformational leadership facilitates radical and incremental innovation: the mediating role of individual psychological capital. Asia-Pacific Journal of Business Administration, 12(3/4), 205-222.
  38. Luthans, F., Luthans, B. C., & Luthans, K. W. (2021). Organizational behavior: An evidence-based approach fourteenth edition: IAP.
  39. Mafimisebi, O. P., Obembe, D., & Aluko, O. (2020). Organization and product design pairings: A review of product innovation capabilities, conceptualization, and future directions. Strategic Change, 29(1), 13-24.
  40. Malakar, I. M. (2023). CoNCEPTuAliziNg CENTRAl TENDENCy AND DisPERsioN iN APPliED sTATisTiCs. Cognition, 5(1), 50-62.
  41. Mao, Y., He, J., Morrison, A. M., & Andres Coca-Stefaniak, J. (2021). Effects of tourism CSR on employee psychological capital in the COVID-19 crisis: from the perspective of conservation of resources theory. Current Issues in Tourism, 24(19), 2716-2734.
  42. Mendoza-Silva, A. (2021). Innovation capability: a systematic literature review. European Journal of Innovation Management, 24(3), 707-734.
  43. Miao, R., Bozionelos, N., Zhou, W., & Newman, A. (2022). High-performance work systems and key employee attitudes: the roles of psychological capital and an interactional justice climate Strategic Human Resource Management and Organizational Effectiveness (pp. 219-253): Routledge.
  44. Mohajan, H. K. (2020). Quantitative research: A successful investigation in natural and social sciences. Journal of Economic Development, Environment and People, 9(4), 50-79.
  45. Ngwenya, B., & Pelser, T. (2020). Impact of psychological capital on employee engagement, job satisfaction and employee performance in the manufacturing sector in Zimbabwe. SA Journal of Industrial Psychology, 46(1), 1-12.
  46. Niswaty, R., Wirawan, H., Akib, H., Saggaf, M. S., & Daraba, D. (2021). Investigating the effect of authentic leadership and employees' psychological capital on work engagement: evidence from Indonesia. Heliyon, 7(5).
  47. Obilor, E. I., & Amadi, E. C. (2018). Test for significance of Pearson’s correlation coefficient. International Journal of Innovative Mathematics, Statistics & Energy Policies, 6(1), 11-23.
  48. Oh, E., & Ko, Y. (2024). Effects of Positive Psychological Capital and Role Conflict of Hospital nurses on Patient safety competencies. Korea Journal of Hospital Management, 29(1), 32-45.
  49. Ozyilmaz, A. (2020). Hope and human capital enhance job engagement to improve workplace outcomes. Journal of Occupational and Organizational Psychology, 93(1), 187-214.
  50. Paek, S., Schuckert, M., Kim, T. T., & Lee, G. (2015). Why is hospitality employees’ psychological capital important? The effects of psychological capital on work engagement and employee morale. International journal of hospitality management, 50, 9-26.
  51. Pham, V.-C., Wong, W.-K., & Bui, X. T. (2024). Publication performance and trends in psychological capital research: a bibliometric analysis. Journal of Trade Science.
  52. Raja, U., Azeem, M. U., Haq, I. U., & Naseer, S. (2020). Perceived threat of terrorism and employee outcomes: The moderating role of negative affectivity and psychological capital. Journal of business research, 110, 316-326.
  53. Rajabi, A., & Ghalehteimouri, K. J. (2022). Application of Meta-SWOT method for tourism development planning of Farsi Island of the Persian Gulf Region. Journal of Sustainable Tourism and Entrepreneurship, 4(2), 123-138.
  54. Ratten, V. (2021). COVID-19 and entrepreneurship: Challenges and opportunities for small business.
  55. Razavi, S. H., & Attarnezhad, O. (2013). Management of organizational innovation. International Journal of Business and Social Science, 4(1).
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