Social ties refer to the connections and relationships that exist between firms and other organizations, such as suppliers, customers, and competitors, as well as networks and clusters. Social ties can enhance a firm’s access to external knowledge and resources, which can, in turn, promote innovation performance. Research has shown that firms with stronger social ties with their suppliers and customers are more likely to have access to valuable information, knowledge, and resources that can support innovation activities. Similarly, firms that are members of innovation networks or clusters are more likely to benefit from knowledge spillovers and other forms of knowledge exchange that can stimulate innovation.
Author(s) Details:
Lydia Asare-Kyire,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.
Owusu Ackah,
Jayee University College, Ghana.
Charles Akomea Bonsu,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.
William Ansah Appienti,
Department of Entrepreneurship and Finance, Kumasi Technical University, Ghana.
