The role of risk factors, partner compatibility, organizational creativity and co-creation value on firm performance: evidence from SMEs in Vietnam

Abstract

This research aims to analyze how risk and compatibility between partners affect organizational creativity, co-creation value, and firm performance in a developing economy. The PLS-SEM method was utilized to process and evaluate a dataset of 454 valid cases from property owners, chief executives, vice presidents, broad assistants, and department managers of SMEs in Vietnam. The results validated the connections between risk variables, partner compatibility, organizational creativity, co-creation value, and firm performance. This study further enhances the current knowledge base in the realm of partner selection and provides valuable insights that can be applied in managerial contexts. Companies must consider external factors like risk and partner compatibility to improve organizational creativity, co-creation value, and firm performance. While risk factors, partner compatibility, organizational creativity, co-creation value, and business performance have garnered significant attention in academic circles globally, there is a shortage of studies exploring the interrelationships among these five phenomena together. This research is one of the initial studies that presents a complete model elucidating the interconnections between different categories.