Product Innovations Lead to Higher Organizational Performance: An Evaluation with Special Reference to Insurance Industry in Sri Lanka

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dc.contributor.authorNiroshan, N.H.P.
dc.contributor.authorJayawardhane, A.A.K.K.
dc.date.accessioned2021-10-18T04:10:30Z
dc.date.available2021-10-18T04:10:30Z
dc.date.issued2011
dc.description.abstractNote: See the PDF Version Innovation is identified as the backbone of the organizational success. Innovation can be defined as the "New way of doing things that are commercialized (Poter, 1990).. According to Jessen (2003), there are four types of innovations namely, product or service innovation, process innovation, position innovation and paradigm innovation. In recent years’ service sector has become a fast growing sector in the world economies including Sri Lanka. GDP contribution of Banking, Insurance & Real Estate sector is highly considerable in the Sri Lankan economy. Insurance industry in Sri Lanka is comprised with 18 Insurance companies and 11 of them are engaging in both General and Long Term Insurance businesses, 5 companies are engaging in General Insurance business and two companies are engage only in Long Term (Life) Insurance business (Sri Lanka Insurance Board). Insurance total Premium has shown a considerable negative growth in 2009 and this has been continuing during the last consecutives yeas. However, the total premium income from long term and general insurance has shown a negative growth of 1.57% in 2009 with compared to a positive growth of 12.11% in the previous year. Not only that but also from 2008 to 2009, the premium income from general insurance has declined by 3%, while the premium income from long term insurance has grown only by 0.65%. Hence, the primary purpose of this research was to identify the lead of product innovation on the performance of the life and general insurance industry.en_US
dc.identifier.issn22359877
dc.identifier.urihttp://www.erepo.lib.uwu.ac.lk/bitstream/handle/123456789/7310/281-Product%20Innovations%20Lead%20to%20Higher%20Organizational%20Performance%20An%20Evaluation%20with%20Special%20Reference%20to%20Ins.pdf?sequence=1&isAllowed=y
dc.language.isoenen_US
dc.publisherUva Wellassa University of Srilankaen_US
dc.subjectBusiness Studiesen_US
dc.subjectEntrepreneurshipen_US
dc.subjectEconomicsen_US
dc.titleProduct Innovations Lead to Higher Organizational Performance: An Evaluation with Special Reference to Insurance Industry in Sri Lankaen_US
dc.typeOtheren_US
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Research Symposium-2011