Identification the main challenges of small and medium sized enterprises in exploiting of innovative opportunities (Case study: Iran SMEs)

Farsi, Jahangir Yadollahi; Toghraee, Mohammad Taghi

doi:10.1186/2251-7316-2-4

Cited by 25 publications

(14 citation statements)

References 31 publications

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“…Innovation is a significant element for SME survival and growth (Farsi and Toghraee, 2014). Hajar (2015) noted that innovation has a positive influence on the performance of the company.…”

Section: A Review Of the Professional And Academic Literaturementioning

confidence: 99%

Strategies for implementing innovation in small and medium-sized enterprises

Haddad

Williams

Hammoud

et al. 2019

WJEMSD

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Purpose The purpose of this paper is to explore innovation strategies that managers of small and medium-size enterprises (SMEs) used to implement innovation in their organizations to meet performance goals. Design/methodology/approach The participants in this multiple case study research comprised randomly selected managers from SMEs operating in Dubai, United Arab Emirates with specialist expertise in successfully implementing innovation in their organizations. Individual interviews were undertaken with participants to gain both an insight and understanding regarding which innovation strategies are best suited to improve performance goal outcomes. A further analysis of workplace internal documents, policies, procedures, SMEs’ websites, review websites and press releases afforded additional insights related to the application of innovative workplace practices which supported productivity improvements in relation to performance goal outcomes. Findings The findings of this study identified that the role of the top management in cultivating an innovative culture, the identification of ideas as the starting point for innovation and the recognition of customers as resources for the company. Practical implications Implementing the findings from this study may support job creation, economy protection in downturns and contribution to economic growth, since thriving SMEs have a positive impact on community development through the generation of the employment. Furthermore, the results of this study can help in creating an increase in improving the productivity of Dubai SMEs in Dubai’s GDP, improvement in investment opportunities; better working conditions for employees and possibilities for expanding the operations of Dubai SMEs globally. Originality/value This study is of value because its findings may contribute to local and global economic growth. Exploring successful innovation implementation strategies in SMEs can result in useful guidelines that SME managers can use to reach the performance goals of their SMEs. Since governmental policies are critical to improving business performance, the Government of Dubai may benefit from this study by addressing key success factors for SMEs through policies and regulations. This study has particular value given the lack of studies that address the issue of innovation implementation in SMEs, especially for SMEs in emerging economies.

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“…Innovation is a significant element for SME survival and growth (Farsi and Toghraee, 2014). Hajar (2015) noted that innovation has a positive influence on the performance of the company.…”

Section: A Review Of the Professional And Academic Literaturementioning

confidence: 99%

Strategies for implementing innovation in small and medium-sized enterprises

Haddad

Williams

Hammoud

et al. 2019

WJEMSD

View full text Add to dashboard Cite

show abstract

“…The finding is in agreement with the study findings by Gebreeysus (2009). Farsi and Toghraee (2014) also posit that majority of SMEs managers tend to have low education background thus run the enterprises through intuition as opposed to analytical thinking. As the enterprises grows older and more complex, such managers are ill prepared to handle more complex business decisions and likely to adopt a risk averse attitude.…”

Section: Source Of Data: Own Computationmentioning

confidence: 99%

Factors influencing micro and small enterprise’s decision to innovate in Kenya

2018

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An enterprise's propensity to innovate has been recognised to have an important bearing on its performance. In Kenya empirical work on micro and small enterprises (MSEs) propensity to innovate is still nascent in spite of the pivotal role played by these enterprises in the economy. The current paper used a Probit econometric model to analyse factors that influence MSE's decision to innovate or not. Results from the analysis show that the average number of years of education for a production worker, physical capital intensity, age of an MSE, access to finance and size of an MSE are important factors influencing MSEs innovation decisions. Higher foreign ownership and manager's experience were found to act as hindrances towards MSEs' decision to innovate. Based on the study findings it is clear that human capital skills and an MSE's resource endowment positively influences MSEs innovativeness.From a theoretical perspective, there is need for skills segmentation to isolate human capital skills that are most relevant for stimulating MSEs innovative activities. Firm level and policy level strategies are also needed to improve the technical skills of the average MSEs' production workers across the country. Subsidisation of physical capital and financial services for MSEs should also be used to promote these enterprises innovativeness.

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“…Innovation is an integral part of the survival and development of SMEs [33]. Innovation has a strong impact on firm performance [34].…”

Section: Innovationmentioning

confidence: 99%