Innovation Management Model as a Source of Business Competitiveness for Industrial SMEs

Abstract

One of the main problems of small companies is not knowing how to properly manage investments, resources, strategies, tools and responsibilities to be more competitive, the research objective is the development of management and innovation processes required by the new company for its permanence in the market and decision making to be carried out every day; small companies face the competitiveness of new products that emerge. Today there are a great variety of products, which are globally interconnected, therefore it is required to implement a structural equation model for its management, so that the company continuously improves and optimizes the available resources, therefore as a result is the management, focused on greater effectiveness of resources; so it is necessary that small businesses need to manage a model of investments, resources, tools and responsibilities to obtain support from the competitiveness of the market; which would allow it to be oriented to a sustainable development and be one step ahead of the competition.