THE ROLE OF INTERNAL FACTORS OF PARTNERS ON CREATIVITY, VALUE CO-CREATION AND BUSINESS PERFORMANCE: EVIDENCE FROM THE TOURISM INDUSTRY IN VIETNAM

Abstract

Purpose – This study examines how partners’ capability, CSR and flexibility affect business creativity, value co-creation and performance of tourism firms in Vietnam. Methodology/Design/Approach– In this study, 454 valid responses were collected and analyzed using PLS-SEM. The participants included owners, CEOs, vice directors, management broad assistants and department leaders from different tourism enterprises in Vietnam. Findings – Among the internal partner selection considerations, the results demonstrated that partners’ flexibility and partners’ capability had a substantial impact on company performance. Aside from the CSR component, all of the internal partner selection factors had a positive correlation with business performance as measured by creativity and value co-creation. Partner selection and business performance provided evidence of creativity and value co-creation’s mediating effect. Originality of the research – From the theoretical implication, this study provides new insights into the literature on tourism and partner relationships regarding partners’ capability, CSR, flexibility, business creativity, value co-creation and performance. From the practical implication, the findings can provide valuable insights for tourism companies looking to enhance their long-term collaboration, determine if it’s strategically beneficial to select, establish or maintain a relationship, as well as strengthen their relationships with their business partners.