Does small and mature have to mean dull? Defying the ho‐hum at SMEs

Abstract

Even though most SMEs operate in established industries, managers of these firms are not impervious to the fast‐moving changes in today’s business world. The author undertook a survey of SMEs to learn more about how they approached innovation. He found that, for innovation to pay off and become real, it must be nurtured and developed through top management commitment, the attention of smart and dedicated people, and tight integration between innovators and the firm’s strategic management.

New product development: An innovation diffusion perspective

“…This surprising finding is contrary to the theoretical arguments (Tatikonda & Montoya-Weiss, 2001) and empirical findings by Li and Atuahene-Gima (1999). One plausible explanation might be that although new product creativity carries a positive connotation in new product development (e.g., Blumentritt, 2004). A firm achieves high new product creativity through continuous organizational learning.…”

Characteristics of Innovative SMEs in Pakistan: A Case Study

“…Thus risk taking behavior of a firm leads to innovative environment. According to the study by Blumentritt (2004) conducted in American SMEs, innovative firms are quick in decision making and risk taking. Other studies done by Blumentritt (2004) and Mambula and Sawyer (2004) also agreed with all the above arguments such as top management innovative vision, new idea appreciation and clear and right managerial systems.…”

“…According to the study by Blumentritt (2004) conducted in American SMEs, innovative firms are quick in decision making and risk taking. Other studies done by Blumentritt (2004) and Mambula and Sawyer (2004) also agreed with all the above arguments such as top management innovative vision, new idea appreciation and clear and right managerial systems. Charney and Libecap (2000) are with the argument that innovative firms are found to have a strong education background of the Owner/manager, which produces self sufficient innovative individuals.…”

Taiwan's Textile and Clothing SME Response to Globalization

“…Taiwanese SMEs have undoubtedly recognised the importance of innovation (Blumentritt, 2004), and learned by observing Japanese counterparts; and to observe how worker empowerment and quality initiatives can result in productivity gains (Stiglitz, 1996;Chen, 2004). However, Taiwanese SMEs usually take a second-tier approach, where products and services are imitated from rivals via trade shows and professional magazines (Chen, 1999b).…”