The impact of innovation dimension and marketing intelligence on the performance of small and medium enterprises in Ghana

With small and medium-sized enterprises being vital contributors to economic growth, understanding the factors influencing their performance is crucial. The purpose of the study was to empower Ghanaian small and medium-sized enterprises with the knowledge and tools needed to effectively leverage innovation and marketing intelligence, driving sustainable growth and competitiveness in the evolving business landscape. Utilising a quantitative approach, 200 respondents were surveyed using random sampling. The study utilised dynamic capabilities to substantiate and explain the social phenomena analysed using the statistical package for Social Sciences and Structural Equation Modelling techniques. The results indicate that small and medium-sized enterprises stand to benefit from enhancing marketing, product, organisational, and process innovation to bolster their performance in the competitive landscape. Despite the acknowledged importance of innovation in small and medium-sized enterprises, empirical studies focusing on specific dimensions and their impact on performance are limited. This study fills this gap by identifying and analysing the relationships between innovation dimensions, market intelligence, and small and medium-sized enterprises performance. By providing actionable insights derived from empirical analysis, the research offers valuable guidance for small and medium-sized enterprises stakeholders, aiding strategic decision-making and competitiveness enhancement. Moreover, the study contributes to theoretical development by enriching understanding of how innovation and marketing intelligence drive small and medium-sized enterprises performance. The practical implications of the findings are significant, offering small and medium-sized enterprises a roadmap for leveraging innovation and market intelligence to thrive in dynamic business environments. Overall, this study enhances scholarly knowledge of the factors influencing small and medium-sized enterprises performance and provides practical guidance for small and medium-sized enterprises operators, policymakers, and other stakeholders invested in the success of small and medium-sized enterprises in Ghana