Examining product innovation in women-led enterprises: Linking the influential role of innovation orientation, family support and risk management using Smart PLS-SEM

In an era where women entrepreneurs are transforming the economic landscape, this study delves into the powerful synergy between family support and innovation orientation. Innovation orientation has emerged as an exceptionally important framework in innovation research. This research investigates the critical interplay among family support, innovation orientation, and the product innovation of married women entrepreneurs in India. Grounded in empirical research involving 482 women entrepreneurs across various industries (service, manufacturing, technology, beauty) in India, we uncover how robust family support serves as a catalyst for product innovation and entrepreneurial success. The current investigation implemented PLS-SEM to test the hypotheses. The results revealed a significantly positive direct association between innovation orientation, family support, and product innovation. Further, family support positively mediates the association between innovation orientation and product innovation. Moreover, this research establishes a significant positive moderating effect of risk management on the relationship between innovation orientation and family support. This research presents a robust mechanism for married women entrepreneurs to develop strategies to improve business motivation, drive innovation, and offer new products and services to their customers. This study contributes to the literature by highlighting the importance of integrated support mechanisms, recommending that policymakers and stakeholders develop targeted interventions to cultivate both familial and institutional support for women-led enterprises. This investigation brings solid managerial and practical implications to scholars, authorities, and decision-makers.