Publication Date
December 2013
Abstract
Political stability, macro-economic caution, and the aggressive pursuit of free trade have enabled Peru to emerge as one of the fastest growing economies in Latin America. This economic expansion has created heightened interest in the evolution of corporate culture and its influence on firm performance. This paper examines organizational performance in relation to the influence of cultural values on innovation by means of a survey of upper level managers. Analysis of the survey results indicates that there was a positive relation between innovation and power distance and uncertainty. Survey findings show no relationship between innovation and individualism nor innovation and masculinity. Practical implications indicate that the cultural values of declining power distance and lower aversion to uncertainty may influence the effective implementation of an innovation strategy in firms operating in Peru.
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