Title New approaches to fostering innovation capacities in low and medium-tech SMEs /
Translation of Title Mažos ir vidutinės įmonės inovacinių gebėjimų vystymas žemų ir vidutinių technologijų sektoriuose: nauji požiūriai.
Authors Sutkus, Arvydas ; Vilys, Mantas ; Jakubavičius, Artūras ; Damkus, Jurgis ; Lapina, Gundega
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Is Part of Ekonomika ir vadyba: aktualijos ir perspektyvos. 2009, Nr.1(14). ISSN 1648-9098
Keywords [eng] Innovation ; Absorption capacity ; Competence ; Training
Abstract [eng] Small and medium enterprises in low and medium- tech sectors form economic backbone of developed countries – most of employment and gross domestic product is associated with SMEs. The innovation research, practitioners and SME policy measures tended to focus on high-tech, high absorptive capacity SMEs, however this group of SMEs constitutes only small proportion of total number of SMEs. Innovations in most SMEs and especially in low and medium- tech sectors, however, take place through ad hoc or project driven activities rather than formally organised activities. Enhancing innovation performance of the mainstream low and medium- tech SMEs is challenging yet promising opportunity. SMEs are much focused on their missions and targets and they do not always pay sufficient attention to long‑term research and innovation objectives. Usually companies assess new business opportunities in terms of investment and return on investment; quite naturally they transfer this thinking to R & D and innovation. But there is inherent complexity and uncertainty in dealing with long-term research, it is difficult to put hard figures or have fixed plans. And hence there is little trust in such endeavours and natural tendency towards short-sighted R & D and incremental innovation. Strategic R & D requires new competencies. Long duration is associated with risks and long-term commitments, complexity of ideas, relationships, projects, maintaining cross-functional cross‑organizational teams. It is difficult for an SME to assess the value of future business and new knowledge. The strengths of most SMEs are in their agility and customer knowledge. Understanding innovation activities, enhancing their ability to leverage these strengths in delivering new significant value are the key to sustainable growth of SMEs. Few SMEs can capture value from innovation alone; most have to rely on external sources for ideas, technologies and knowledge. [...].
Type Journal article
Language English
Publication date 2009