Relationship between innovativeness and strategic planning: Empirical research

Abstract

This paper studies the relationship between innovativeness and strategic planning in SMEs.In introduction part, the authors attempt to consider relevant findings about this specific relationship in the literature. The paper presents how the EU policy approaches the innovation management system within SMEs and where Serbia stands in catching up the process towards the EU in terms of innovativeness and competitiveness. The main research approach is to examine the relationship between innovativeness and strategic orientation, beginning with the existence of the four key strategic business documents: strategic, marketing, business plan and procedures, and innovation strategy documents. The last part is a discussion on the findings and considerations of the intensity of the relations among strategic orientations of the company expressed through the key strategic documents and innovativeness, and the relations among the three most practiced types of innovation in representative sample of 150 Serbian small and medium enterprises (SMEs).The research has shown that there is positive correlation between strategic planning approach in marketing and firm's innovativeness but the intensity of the relationship depends on the type of the innovativeness considered.

The role of management practice and business environment in promoting firm innovativeness

“…Also, large organizations which have a strategy focused on innovation enhance overall innovativeness (ρ = .311, Sig = .028), which is identical to the results of empirical research conducted by Mamula and Popović-Pantić (2015), who focused their attention on SMEs and reached the conclusion that: "SMEs with clearly defined innovation strategies achieved higher scores on all types of innovation as compared to SMEs that did not report having such a document" (2015, p. 59). Furthermore, encouraging staff toward creative thinking that results in new conceptual solutions in business processes, products and services directly lead to a higher degree of a firm innovativeness (ρ = .300, Sig = .034).…”

“…001), then the degree of firm innovativeness can be greatly enhanced. As mentioned above, earlier studies, as well as results, have shown that innovative companies with access to financial resources (Mamula & Popović-Pantić, 2015) can "invest in innovative activities and behave more innovatively" (Mamula & Popović-Pantić, 2015, p. 61;Mosurović & Kutlača, 2011) which improves overall firm innovativeness.…”

A multi-criteria approach to bid selection in public procurement

“…"When faced with a changing or uncertain business landscape, companies cannot resolve to playing by the same rules as their competitors" (Mamula, Popović-Pantić, 2015). As a rule, when there is the possibility of corruption, regardless of whether it takes place, not only must the protection of the procurers' rights be discussed, but also the protection of all parties involved in public procurement processes.…”

Open Innovation in Ecuadorian SMEs: The Importance of Strategy and the Moderating Effect of Control

“…Cândido and Sousa (2017) find that those Brazilian SMEs that formalize their strategy are more likely to implement OI. While Mamula and Popovic-Pantic (2015) observe that Serbian SMEs with strategic planning can present successful innovation projects with greater confidence. If a firm proactively manages knowledge inflows and outflows, it can strategically leverage a multitude of new strategic options (Kutvonen, 2011).…”