FAST-GROWING SMEs AND THE ROLE OF INNOVATION

Grundström, Christina; Sjöström, Roland; Uddenberg, Anders; Rönnbäck, Anna Öhrwall

doi:10.1142/9781786343482_0005

Cited by 3 publications

(3 citation statements)

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“…The estimated models verify if in turbulent periods size (LOGTO) is an important determinant of innovation. Rapidly growing firms, commonly called gazelles, have been found to be more innovative (Grundström, Sjöström, Uddenberg, & Rönnbäck, ). In stable periods the literature suggests that these firms have a key role in innovation (Bleda, Morrison, & Rigby, ).…”

Section: Methodological Considerationsmentioning

confidence: 99%

Innovation in firms, resilience and the economic downturn: Insights from CIS data in Portugal

Pinto

Pereira

Uyarra

2019

Regional Science Policy & Practice

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There is an interest in understanding the effect of economic crises such as the one that hit the financial markets in the late 2000s, on the innovation performance of countries and regions. This paper introduces the concept of "resilience of innovation" to illustrate how the economic slowdown affects firms' behaviour in terms of their ability to maintain and develop innovative activities and deploy product and process innovation. Using Portugal as a case

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Section: Methodological Considerationsmentioning

confidence: 99%

Innovation in firms, resilience and the economic downturn: Insights from CIS data in Portugal

Pinto

Pereira

Uyarra

2019

Regional Science Policy & Practice

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“…Smallbone and North 1995, Kangasharju 2000, Rutherford et al 2001), but gazelles have also been found among more mature firms (Grundström, Sjöström, Uddenberg, & Öhrwall Rönnbäck, 2012). In most nations, only 2-5% of all firms are growing fast, regardless of industry (Storey & Greene, 2010).…”

Section: Focusing On the High-growth Smesmentioning

confidence: 99%

Growth in established SMEs : Exploring the innovative and ambitious firm

Uddenberg¹

2015

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The growth of firms is a complex but relevant subject for different stakeholders, such as owners, who want returns on their investment, and society, where firms are vessels for jobs and job creation. Despite the vast amount of research conducted on firm growth and factors associated with firm growth, there is no coherent body of knowledge, and the average firm is not growing.This research focuses on growth in established small and medium-sized enterprises (SMEs), i.e. firms that have passed the startup phase and have established themselves on the market. The purpose is to investigate the characteristics of high-growth established SMEs with special focus on the entrepreneur's growth ambitions and the role of innovation activities for firm growth.The data was collected from 88 established SMEs in which interviews were conducted with CEOs, owners, managers, and employees. A questionnaire was used which included questions regarding factors previously linked to firm growth such as resources, market factors, organizational factors, innovation, and attitude toward firm growth.The results show that growth ambitions have a limited impact on firm growth, and that growth ambitions alone are not a good predictor of firm growth. When high-growth firms were compared to the average established SME, there was no difference in the level the managers of the firms were seeking growth. Neither lack of growth, nor high growth, can be explained by the managers' perception of the firm's possibility to grow. Furthermore, there is no evidence that the difference in growth rates is attributed to different levels of growth opportunities.Instead, this research shows that what distinguishes high-growth firms from the average, nongrowing firms are factors associated with innovation, the market, and customer knowledge. The high-growth firms were found to be significantly better at identifying and delivering on unfilled demands. However, no evidence suggests that the high-growth firms had exclusive access to new technology they could leverage as a means to grow faster, and both groups believed there to be plenty of market opportunities and possibilities to create growing niches.If the difference between high growth and no growth in established SMEs is associated with external factors related to innovation, market and customers, it is interesting that when growth ambitions increase, so does the internal focus on organizational structures and systems.Ambitious entrepreneurs who seek firm growth should therefore not lose sight of external factors, and strive to quickly deal with increased internal complexity that accompanies firm growth.iii Istället visar denna studie att det som särskiljer snabbväxande etablerade SMF från genomsnittliga, icke växande, företag är faktorer knutna till innovation, marknad, och företagens kunskap om sina kunder. De snabbast växande företagen var betydligt bättre på att identifiera nya krav och utnyttja den efterfråga som fanns. Noterbart är att de snabbväxande företagen inte hade exklusiv tillgång till ny te...

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“…High‐growth firms generally have higher levels of innovation (Coad and Rao ; Grundström et al ), are more export oriented (Parsley and Halabisky ), and have important spill‐over effects (Stam and Wennberg ) relative to non‐high‐growth firms. Small, high‐growth firms also generate a disproportionately large share of new jobs relative to other types of firms, even during recessions (Henrekson and Johansson ; Jawahar and McLaughlin ).…”

Section: Introductionmentioning

confidence: 99%

Growth Intentions and Board Composition in High-Growth Firms

Rasmussen

Ladegård

Korhonen-Sande

2016

Journal of Small Business Management

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This paper examines the influence of board composition on growth intentions of high‐growth firms. We hypothesize that gender diversity and a high proportion of independent directors on the board will reduce a firm's growth intentions, whereas founder duality will increase a firm's growth intentions. Using survey data from 773 high‐growth Norwegian firms, we find that gender diversity has a negative effect on growth intentions. A high proportion of independent directors do not facilitate further growth in high‐growth firms. Furthermore, our results indicate that the founder's presence in the decision‐making group increases a firm's growth intentions.

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FAST-GROWING SMEs AND THE ROLE OF INNOVATION

Cited by 3 publications

References 0 publications

Innovation in firms, resilience and the economic downturn: Insights from CIS data in Portugal

Innovation in firms, resilience and the economic downturn: Insights from CIS data in Portugal

Growth in established SMEs : Exploring the innovative and ambitious firm

Growth Intentions and Board Composition in High-Growth Firms

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