The intervention of strategic innovation practices in between regulations and sustainable business growth: a holistic perspective for Malaysian SMEs

Islam, Ariful; Wahab, Sazali Abd

doi:10.1108/wjemsd-04-2020-0035

Cited by 26 publications

(30 citation statements)

References 161 publications

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“…Eco-innovation is expressed in Malaysia through the concept of green technology, and by combining the innovation process and technology into their business model, organisations can achieve long-term survival while simultaneously competing more effectively in the market [13]. In order to gain a competitive advantage and build plans for long-term success, Malaysian SMEs must approach strategic innovation with appropriate extended government support [36].…”

Section: Eco-innovation Capabilitiesmentioning

confidence: 99%

Eco-Innovation Capabilities and Sustainable Business Performance during the COVID-19 Pandemic

et al. 2022

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The COVID-19 pandemic has had a direct impact on the manufacturing industry in Malaysia because all economic activities had to be suspended for some time. This study explores the role that eco-innovation capabilities might play in improving sustainable business performance during the ongoing pandemic. This study employs a quantitative method by distributing online questionnaires to 80 small and medium enterprises (SMEs) in Klang Valley, Malaysia. In the study, the relationship between sustainable business performance and the three variables of eco-innovation capabilities, i.e., eco-product innovation, eco-management innovation and eco-logistic innovation, were determined using multiple regression analysis. The results indicate that two hypotheses are accepted and the other one is rejected. The findings indicate that most manufacturing SMEs in Klang Valley have adopted eco-management innovation and eco-logistic innovation as crucial capabilities for their businesses during the pandemic. However, due to the challenges faced by these SMEs during the pandemic, eco-product innovation was found to have an insignificant relationship with sustainable business performance. It is insignificant because of the low productivity rate observed during the pandemic. Hence, the COVID-19 pandemic has caused manufacturing SMEs in the Klang Valley to not be able to maintain their operations and stay on track. Therefore, this research may contribute to the efforts of policymakers, government agencies and managers of manufacturing SMEs in developing a strong innovation platform on which manufacturing SMEs may rely for support in enhancing their business capacity and performance.

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Section: Eco-innovation Capabilitiesmentioning

confidence: 99%

Eco-Innovation Capabilities and Sustainable Business Performance during the COVID-19 Pandemic

et al. 2022

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“…Again, external and organizational contexts may impact corporate spirituality and responsible business practices, while also assisting the corporation in changing dominant values in the economy and society. In this course, the study of Islam and Abd Wahab (2021) demonstrates a clear relationship between government laws and corporate spirituality, resulting in a long-term business configuration.…”

Section: Proposed Conceptual Modelmentioning

confidence: 95%

Can small and medium businesses endure the COVID-19 crisis through strategic philanthropy?

Islam

Wahab

Latiff

2022

MANM

Self Cite

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PurposeSmall and medium-sized firms (SMEs) are typically reported to have a limited interest in broader societal concerns across the world. As a result, the purpose of this study is to develop a model of SME’s strategic philanthropic performance in light of the societal reactions to the COVID-19 issue, particularly in terms of the intervention of corporate spirituality and the solid regulatory motive behind these.Design/methodology/approachA systematic mixed review analysis has been executed to analyze the strategic philanthropic performance configuration triggered by the recent COVID-19 crisis, in which over 369 publications are read and reviewed by the authors. It has also established the reliability and validity of literature analysis. Also besides, a short form of qualitative investigation has been used to support the direction of the study.FindingsThrough regulatory adjustments, the study's findings effectively developed a strategic philanthropic performance configuration for SMEs. In this case, the strategic philanthropic convergence of corporate giving, corporate volunteering, corporate foundation and food bank has the potential to help SMEs thrive in the long run. The study also discovers that corporate spirituality might potentially mediate between appropriate regulations and strategic philanthropic performance of SMEs in the context of a supportive external environment.Research limitations/implicationsPrior empirical attempts are subsequently required to inquiry about the proposed conceptualization from different perspectives.Practical implicationsThe decision-makers of SMEs, with the efficient implementation of the proposed outline, will use the understanding given for their required actions to develop the competitive advantage in terms of social concerns. On this note, the outcomes of the study can also enhance business differentiation and competitiveness. It can also serve as a strategic guideline for firms to develop organizational values for long-term survival.Social implicationsIn the COVID-19 reality, SMEs will contribute to the concerns through philanthropy activities that are better suited for both enhanced social good and greater corporate advantages. The idea can also serve as a basis for SMEs to accomplish the Sustainable Development Goals (SDGs).Originality/valueTo the best of the authors' knowledge, this is the first research that conceptualizes the influence of government regulation on the strategic philanthropic performance of SMEs while taking corporate spirituality into account in order to survive the COVID-19 crisis.

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“…Normally competitors struggle with future business plans, decisions, and potential. According to a past study, innovative management is responsible to create new strategies then implementing them to support businesses that cause prominent growth in the business (Islam & Abd Wahab, 2021). Hence, through innovative management success of a business is ensured by the fruitful implementation of new technologies and strategies.…”

Section: Innovative Management and Accounting Performancementioning

confidence: 99%

Account management, innovative management, and audit quality affect the accounting performance of small and medium enterprises in Thailand

Rojanapanich

Sooksomchitra

Wimonchailerk

et al. 2022

ijhs

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Most of the Small Medium Enterprises in Thailand don’t have sufficient accounting performance. Several elements have a significant effect on the accounting performance of small-medium enterprises. However, according to this study account management, innovative management and audit quality play a key role in the accounting performance of SMEs. There is a direct relationship between account management, innovative management, audit quality, quality of financial statement, and accounting performance. 340 account managers were surveyed aiming to collect primary data for this study. These 340 account managers were working with various SMEs in Thailand which was the respondents of this study. Primary data received from the respondents were analyzed by using Partial Least Square which is a statistical software. Hence, PLS helped to obtain the final results of this study. It was concluded that by increasing the value of account management, innovative management, and audit quality, the value of accounting performance also increases. Practically this study help account manager especially those working in SMEs of Thailand to enhance their accounting performance.

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The intervention of strategic innovation practices in between regulations and sustainable business growth: a holistic perspective for Malaysian SMEs

Cited by 26 publications

References 161 publications

Eco-Innovation Capabilities and Sustainable Business Performance during the COVID-19 Pandemic

Eco-Innovation Capabilities and Sustainable Business Performance during the COVID-19 Pandemic

Can small and medium businesses endure the COVID-19 crisis through strategic philanthropy?

Account management, innovative management, and audit quality affect the accounting performance of small and medium enterprises in Thailand

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