No abstract

No abstract

This paper presents a new approach to innovation management in Small and Medium-sized Enterprises (SME). The Holistic Innovation Framework (HIF) and Value Generation Model (VGM) support and extend the unique processes of New Product Development (NPD) in SMEs. These processes were found to be primarily dependent on the owner/manager of the SME. The approach then externalizes the tacit process of the owner/manager, so that a wider management team can apply it. It diverges from existing large organizational NPD theory by taking a capability perspective rather than a project process perspective. The approach was developed using action research in a range of case studies. The application of the approach has identified a range of benefits at an organizational, industry and policy level. Two authors who have researched in this area are Scozzi [17] and Atherton [18], both contributing a unique model of SME NPD.Scozzi [17] presents a model that aims to formalize the tacit knowledge and emergent strategy to overcome the limitations of an SME, such as communication and resources. The model tends towards the large operations and appears to be suited to a large or transitional SME where communication is identified as an issue.Atherton [18] presents a model that reflects the actual process in small SMEs. The model is based on the effective communication and management of the owner/ manager and has a holistic appreciation of the business environment.

No abstract

No abstract