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Innovation And Entrepreneurship Practice And Principles

Innovation is crucial for growth and business development, and represents a reliable way through which to gain competitiveness within the marketplace. Open innovation is expressed through three dif...

https://journals.sagepub.com/doi/pdf/10.1177/1847979020969545

The influence of open innovation on firm performance

Technological adaption and innovative activities foster small and medium enterprises (SMEs) growth by allowing production and process diversifications. Furthermore, open innovation practices, especially SMEs, rely on several firms’ specific attributes, and their impact varies accordingly. This study’s motivation is to explore the impact of technological adaptation and open innovation on SMEs run by women entrepreneurs and the challenges encountered in implementing open innovation. A sample of 580 questionnaires was sent to target SMEs, following the stratified random sampling technique, of which a complete 375 responses were duly received. The open innovation has been measured through eight innovative practices, reflecting the exploration and exploitation of technology in SMEs. This study found that women-owned enterprises were involved in many open innovation policies during the last five years. The result of this study indicated that there are no significant differences between manufacturing and industry regarding open innovation practices. Still, women-owned enterprises are more impressively engaged in open innovation practices. The research also identified that women-owned SMEs follow open innovation, mainly for market-related intentions, to compete with competitors and meet customers’ demands. The study contributes to the theoretical and practical implications. Further, the study is helpful for SMEs, researchers, practitioners, and decision-makers.

https://www.mdpi.com/2071-1050/13/5/2942/pdf

Technological Adaption and Open Innovation in SMEs: An Strategic Assessment for Women-Owned SMEs Sustainability in Bangladesh

Strategies for Integrating Technological Innovations in Small Businesses by Petra Samuel MIT, American InterContinental University, 2008 BS, Andrews University, 1999 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2017 Abstract The effective integration of technological innovation is vital to the success of small businesses and can catapult growth and profitability. Some business managers and supervisors, however, may not have a firm understanding of strategies for integrating technological innovations in businesses; this lack of knowledge may result in employee frustration and costly roadblocks to achieving business objectives. This case study was conducted to identify the strategies used by business managers and supervisors to integrate technological innovations in small businesses. Christensen’s theory of disruptive innovation and Rogers’ theory of diffusion of innovation served as the conceptual framework. Ten business managers and supervisors from Castries, St. Lucia, participated in semistructured interviews. Participants who were selected using purposive sampling worked in a small business in St. Lucia for atleast 5 years, were part of senior management, and used strategies for integrating technological innovations in a small business. Two of the themes that emerged from data analysis were integration challenges relating to technological innovation complexity, and technology cost regarding hardware, upgrades and software procurement. Findings from this study may contribute to positive social change by providing business managers and supervisors insight about strategies and innovative solutions they can use to develop better business practices, increase tax revenues, and employment opportunities, improve profitability, and boost the economy.The effective integration of technological innovation is vital to the success of small businesses and can catapult growth and profitability. Some business managers and supervisors, however, may not have a firm understanding of strategies for integrating technological innovations in businesses; this lack of knowledge may result in employee frustration and costly roadblocks to achieving business objectives. This case study was conducted to identify the strategies used by business managers and supervisors to integrate technological innovations in small businesses. Christensen’s theory of disruptive innovation and Rogers’ theory of diffusion of innovation served as the conceptual framework. Ten business managers and supervisors from Castries, St. Lucia, participated in semistructured interviews. Participants who were selected using purposive sampling worked in a small business in St. Lucia for atleast 5 years, were part of senior management, and used strategies for integrating technological innovations in a small business. Two of the themes that emerged from data analysis were integration challenges relating to technological innovation complexity, and technology cost regarding hardware, upgrades and software procurement. Findings from this study may contribute to positive social change by providing business managers and supervisors insight about strategies and innovative solutions they can use to develop better business practices, increase tax revenues, and employment opportunities, improve profitability, and boost the economy. Strategies for Integrating Technological Innovations in Small Businesses by Petra Samuel MIT, American InterContinental University, 2008 BS, Andrews University, 1999 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2017 Dedication I dedicate this dissertation to my husband, Mekus Dylan Samuel, for his unwavering love, support, and sacrifice in helping me achieve this goal. I would also like to dedicate this dissertation to my patient daughter, Chloe Melladie Samuel, and son, Kyle D’mitri Dylan Samuel. I dedicate my dissertation to the St. Lucia Seventh Day Adventist (SDA) Academy where the foundation of my education was cemented from 1985 to 1990. To the students of the St. Lucia SDA Academy, I encourage you to continue dreaming big and to reach for the stars. Acknowledgments Barring the mentorship and contributions of a few key individuals in my life, it would not have been possible for me to attain the highest level of education. I thank my hardworking chair, Dr. Gregory Uche, for his patience and excellent direction. To my second committee chair member, Dr. Jamiel Vadell, and my URR, Dr. Roger Mayer, thank you for your support and guidance during my doctoral journey. To my sister, Martha Alexander-Felix, thank you for your unconditional support. To my nieces, Waveney Isidore, Christina Cornibert, Kadia Cornibert, and nephew, Chester Alcee, thank you for your invaluable assistance. I also acknowledge the encouragement of my cousin, Gordon Florent, and Dr. Lawrence Arnold. I am grateful for the support of Barbara Innocent from the Small Enterprise Development Unit in St. Lucia. Ultimately, I give all the thanks to God for allowing me health, strength, and mental fortitude to achieve such a stupendous feat in my life.

https://scholarworks.waldenu.edu/cgi/viewcontent.cgi?article=4937&context=dissertations

Strategies for Integrating Technological Innovations in Small Businesses

Measuring open innovation in SMEs: an overview of current research

The focus of this paper is providing insights about open innovation practices adopted across the Indian software product small and medium enterprises (SMEs). This paper explores the awareness and adoption levels of the open innovation practices and the influence of these practices on the performance of the firm. The software product firms located in Bangalore are selected for the study. The framework developed is empirically tested on a sample of 30 software product companies located in Bangalore region. The results suggest that practices of open innovation are adopted and these practices help the firm to improve its performance.

Open innovation practices among Indian software product firms: a pilot study

Innovation is the key to maintain competitive advantage in a market and gain leadership. Ideas are the most essential input for an innovation process to start. Innovation has long been considered as a prominent growth engine to brace competitiveness of the firm in the market. Also, Innovation plays a key role in providing sustainability and growth for the firm. But yet firms are not clear about the type of innovation management practices that need to be adopted for generating an idea and developing a product. A shortened product life cycle, constantly growing research and development cost, more rapid information flows, and increasingly interconnected customers have supported a paradigm shift toward an open approach to innovation. A firm needs to choose between Open Innovation practices and Closed Innovation practices for its sustainable development. Small and Medium Enterprises (SME) of Information Technology Industry in India have adopted innovation practices to the extent of fifty seven percent. Open Innovation has become one of the most recent topics for research in the area of innovation management. Open innovation is a pioneering mechanism with increasing number of studies in the literature with large organizations and in the context of Europe and West. However, there are not many studies on Open Innovation and SME in Indian context. In addition, there are still a number of issues unclear in Open Innovation Theory due to its wide concept. Therefore, this paper aims to critically review the existing literature and develop a conceptual framework to establish a relationship between Firms, Open Innovation Practices, SME Characteristics, and firm performance. The paper establishes a need for studies in the area of open innovation among small and medium segments of the technology oriented industry. The paper also presents the research questions and research objectives of the study along with hypotheses. The paper concludes with the need of research and the contribution that will be made from this study to the world of academia.

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Open Innovation – A Need of the Hour for Indian Small and Medium Enterprises

The paper provides insights on open innovation practices adopted across the Indian software product Small and Medium Enterprises (SMEs). It explores the open innovation practices adopted by software product SMEs and the influence of these practices on the performance of the firm. The software product firms located in Bangalore are selected for the study. The framework developed is empirically tested on a sample of 213 software product companies located in Bangalore region. The results suggest that collaboration practices of open innovation are widely adopted. Also, the open innovation model helps the firm to improve its overall performance and develop more products.

K. B. Kiran

Papers

Open innovation practices among Indian software product firms: a pilot study

Open Innovation – A Need of the Hour for Indian Small and Medium Enterprises

Open Innovation Approach for Small and Medium Enterprises: An Evidence from Indian Software Product Firms