Innovation activity of Slovak ICT SMEs

Abstract

Research background: The innovation process is a key factor when creating and maintaining competitiveness, so the SME sector has to address a special attention to it. Examining the impact of corporate co-operation on innovation activity has to be mentioned as a crucial goal. Purpose of the article: The main goal of the research is to assess the innovative activity of the SMEs operating in ICT sector, and to map the distribution between the innovative and non-innovative businesses. The article's purpose was to outline the most recent developments in Slovakia's ICT industry with regard to SME innovation. The empirical study concentrated on the types of innovation, variables that encourage and discourage innovation, and the innovation activity of SMEs in the ICT sector. Methods: In accordance with the main goal of the research, descriptive statistical methods, i.e. unweighted and weighted arithmetic mean were used to analyze the research hypothesis. A questionnaire research study was carried out between September 2021 and February 2022 in Slovak ICT SMEs. Findings & Value added: Significant differences can be determined between the innovative and non-innovative ICT companies in terms of innovation. The majority of SMEs implemented both technological and non-technological innovations. A small number of SMEs failed to implement either type. A significant portion focused on technological innovations, with the majority successfully implementing them, and over half of them introduced non-technological innovations between 2018 and 2020. Over 75% of the companies felt they were more innovative than their competitors. More than 67% of non-innovative SMEs saw themselves as less innovative than their competitors. 92% of innovative SMES implemented both technological and non-technological innovations. 51% implemented technological innovations. 56.41% innovative SMEs implemented 3 to 5 types of innovation activities, while 38.46% implemented 6 to 7 types. Only 5.13% implemented all 9 types of innovation activities considered. 38% of innovative SMEs spent the most on research and development, 33% allocated highest expenditure to machinery and equipment. In case of supporting SMEs in innovation activities, three market players received above-average ratings: customers and consumers, suppliers of raw materials and piece parts and the group of companies.

A Meta-Analysis of Innovation Management in Scientific Research: Unveiling the Frontier

“…Innovation is the systematic progression of developing and showcasing original concepts, ideas, products, services, technologies, or methodologies, all with the intention of propelling innovation forward in a specific domain encompassing the economy, society, or daily life. Innovation is applicable in a wide range of formats and contexts [3]. Effective management of fundamental internal processes is critical for achieving success, as it enables organizations to improve critical performance indicators such as cost, quality, and consumer focus [4].…”

“…Innovation can be implemented in an extensive variety of contexts and methods. Whether it be a novel market strategy, process, product, technology, or approach to problem solving, innovation is always something fresh [3]. As a phenomenon, businesses are utilizing digital transformation to increase the efficiency of their operations.…”