Foresight capabilities and SME product/service adaptiveness: the moderating effect of industry dynamism

Abstract

This study empirically examines the impact of 'first-order' foresight capabilities on SME product/service adaptiveness (PSA)

The moderating effect of competitive intensity on foresight capability and product innovation of SMEs in Indonesia

“…When SMEs face high-intensity competition in the business environment, it can reduce the quality of obtaining information, especially from external sources. On the other hand, networks can facilitate SMEs in expanding market opportunities and the technology used to enable them to adapt products to market demands (Gilmore et al, 2006;Nyuur et al, 2015).…”

“…Analysis of external factors faced by SMEs will be a potential variable in developing product innovation capabilities. The ability to predict future events (e.i., foresight capability) can be a potential variable that affects product innovation performance (Nyuur et al, 2015). Foresight is a more inclusive capacity to creatively absorb and synthesize important information into meaningful future-oriented knowledge to thrive, develop, and perhaps create and capture sustainable value (Paliokaitė et al, 2014).…”

“…Besides large companies that need the foresight to support their competitiveness, SMEs also need innovation (Milshina & Vishnevskiy, 2018;Vishnevskiy & Egorova, 2015). This is because SMEs are very vulnerable to competition and require a high level of innovation to survive in a hypercompetitive business environment (Milshina & Vishnevskiy, 2018;Nyuur et al, 2015). Although the concept of foresight capability is often associated with large and well-established companies, small companies can also practice foresight capability in their companies through literature reviews, brainstorming, SWOT analysis, and interviews .…”

Validity of Dynamic Capabilities in the Operation Based on New Sustainability Narratives on Nature Tourism SMEs and Clusters

“…In recent studies, dynamic capabilities have been analyzed in terms of small and medium enterprises' (SMEs) adaptability and innovation with respect to their products/services (PES). Findings indicate the need to develop knowledge networks that allow SMEs to analyze and understand the dynamics of an industry, and to support the SMEs' planning and long-term vision so that they can develop processes for strategic adaptation and innovation with respect to their products or services, based on the needs of their customers [36].…”

“…In both cases, it can be ensured that adaptation, absorption and innovation capabilities co-create a business model in organizations, which is recognized by some authors, such as the vision of dynamic capabilities (VDC), In both cases, it can be ensured that adaptation, absorption and innovation capabilities co-create a business model in organizations, which is recognized by some authors, such as the vision of dynamic capabilities (VDC), model that It allows managing and shaping networks effectively, particularly in the face of turbulence in emerging markets [39]. Dynamic capacities have had a geographical evolution, even in different regions, different authors have studied the relevance of the capacities to innovate, of the learning dynamics of individuals and companies, and of adaptation within a global network, especially in cases such as the role of multinationals in a region, the entry and exit of companies in a sector, as well as social capital, which have influenced factors relevant to sustainable development [36,39,40].…”