Sustained Performance through Application of Innovation, Strategic Human Resource Management Practices and Leadership: A Case Study of a Retail Company in Sri Lanka

Abstract

The retail industry is a highly competitive and a dynamic industry which evolves continuously. In this sense, it is important to understand how JayKay Marketing Services (Pvt) Ltd (JMSL), also referred as Keells supermarket, have been able to sustain its performance over a long period. The sustained performance of Keells supermarket is evident from both a financial perspective and a non-financial perspective. The authors have referred a significant number of research articles to articulate the theoretical underpinning of sustained performance. The sustained performance in this research findings defines in multiple ways and it is connected with monetary aspects such as profitability, revenue, as well as other aspects such as customer satisfaction, market share growth and flexibility in organizational structure. In this study however, sustained performance is looked from a financial perspective along with a sustainable competitive edge of organizations which again has a direct correlation to achievement of sustained performance. Most importantly, the study identifies three key driving factors namely applying innovation, implementing strategic human resource management practices and exhibiting transformational and transactional leadership styles which has resulted in the outcome which is sustained performance. A conceptual framework was established to keep the focus in the case study. In order to support and validate study findings, apart from different secondary sources, the authors have conducted 20 in-depth interviews, 8 diverse focus group discussions based on a structured interview guide and direct observations in various outlets of Keells supermarket. The study findings would be very helpful for the future studies and any other organization in the retail industry, can apply the practical implications to their business while leadership styles can be varied with different personalities of the leaders having for their organizations.