Product Innovation Among Furniture Firms: The Case of the Private Economy Area

Abstract

Objective: The objective of this article is to analyze product innovation among furniture firms in the private economy area of Vietnam. Method: We designed a questionnaire related to product innovation among furniture firms in the private economy area. We determined the observed variables (scales) of product innovation among furniture firms based on previous studies and expert interview results. We use both qualitative and quantitative research methods, including descriptive statistics, reliability analysis through the Cronbach alpha coefficient, EFA analysis, the independent T test, and ANOVA analysis. Results: Four attributes of product innovation among furniture firms in the private economy area were quite high. All the attributes of the variables are statistically significant. There is no statistically significant difference in product innovation among furniture firms in the private economy area between these different genders and career seniorities. Conclusions: This research broadens the understanding of the importance of product innovation in the productivity and competitiveness of the furniture firms in the private economy area studied. This research has expanded product innovation among furniture firms in the private economy as an activity with profound business performance impacts. This study can be a basis for other research works and policy design oriented to achieve a comprehensive measurement of business performance and make business strategy in the firm.