| Keywords [eng] |
SME, SMEs, Digital transformation, Open Innovation, SMEs growth, small and medium enterprises, Digital skills, Growth framework. |
| Abstract [eng] |
This master's thesis investigates the impact of Digital Transformation and Open Innovation on the growth of small and medium-sized enterprises (SMEs). After analysing different views in the academic literature on digital transformation and open innovation, we developed a conceptual framework that links digital skills, digital transformation, and open innovation with business model innovation to SME performance. Based on Eurostat data, we review general trends highlighting the importance of digital skills, collaboration, and technology adoption in driving SME growth. Based on this, future directions for possible research were defined. Finally, actionable insights and recommendations for SME growth were defined despite data limitations. Problem of the FMT: SMEs face significant challenges to growth and survival in a rapidly evolving technological landscape. Digital transformation is vital for survival, and open innovation could be a tool for transforming the business more easily. Object of the Paper: The object of this paper is the analysis of how Digital Transformation and Open Innovation influence the growth of SMEs. Objectives of the Study: 1. Examine the theoretical background and existing research on Digital Transformation and Open Innovation in SME. 2. Develop a conceptual framework linking Digital Transformation, Open Innovation, and SME growth by testing key hypotheses. 3. Conduct research to evaluate the relationships between digital skills, open innovation activities, digitally enabled business models, and SME performance. 4. Identify future research possibilities and propose practical recommendations for SME leaders and policymakers to foster growth through Digital Transformation and Open Innovation. Research Methods: The study started with a review of literature and scientific research and data interpretation through the creation of a framework. This was followed by a quantitative research approach using descriptive and correlational analysis of publicly available Eurostat indicators to assess relationships between variables. Research and results obtained: During our research, we confirmed our conceptual framework through three hypotheses raised. By demonstrating the relationship between digital skills, digital transformation, open innovation, and SME growth, we established this connection using data from Eurostat. This allowed us to define future research possibilities and develop actionable recommendations for policymakers and business leaders. Conclusions of FMT: The research concluded with findings corresponding to the key tasks of the master thesis. |
