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The Role of Creativity Andor Innovation in Proving Competitive Advantage for Small and Medium Enterprises

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The Role of Creativity Andor Innovation in Proving Competitive Advantage for Small and Medium Enterprises
NORTH SOUTH UNIVERSITY

Research Paper

“The Role of Creativity and/or Innovation in Proving Competitive Advantage for Small and Medium Enterprises”

Submitted To:

Mr. Niaz Patwary (NzP)

Submitted By:

1. Name: Md. Rezaur Rahman Section: 8 ID: 1020495030
2. Name: Dewan Tanjina Akter Section: 8 ID: 1020516030
3. Name: Ashraful Adib Section: 7 ID: 1020090530

Date of Submission: December 3, 2012
Fall Semester

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Letter of Transmittal:

3rd December, 2012
Niaz Patwary
Lecturer
School of Business
North South University
Bashundhara, Dhaka.

Dear Sir,

Here is our research report on “The Role of Creativity and/or Innovation in Proving Competitive Advantage for Small and Medium Enterprises” that you guided us to prepare.

Throughout the research we tried to find out the impact of creativity and/or innovation in gaining competitive advantage for Small and Medium Enterprises.

By doing this research paper, we’ve come to know a lot of things regarding Small and Medium Enterprises. We hope our research paper will be fully granted by you.

Thank you
Sincerely yours,

Md. Rezaur Rahman

Dewan Tanjina Akter

Ashraful Adib

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Table of Content:

Topic | Page no. | 1. Abstract | 4 | 2. Research Objective | 5 | 3. Hypothesis | 5 | 4. Introduction | 6 | 5. Literature Review | 7 | i. Creativity/Innovation in SMEs | 8 | ii. The connection between creativity and SMEs | 10 | iii. Competitive Advantage in SMEs | 11 | iv. Creativity/ Innovation and Competitive Advantage | 13 | 6. Innovation Strategies for Small and Medium Enterprises | 15 | 7. Methodology | 18 | 8. Findings and analysis of the research | 19 | 9. Limitations | 21 | 10. Recommendation | 23 | 11. Work Cited | 23 |

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Abstract:

The purpose of



Cited: 1. Abraham, J., & Knight, D. (2001). Strategic innovation: Leveraging creative action for more profitable growth. Strategy and Leadership, Vol.29, No.1, 21 – 26. 4. Amabile, T. (1983), The Social Psychology of Creativity, New York, Springer Verlag. Quoted in: Fillis, I. (2006). Art for art’s sake or art for business sake: an exploration of artistic product orientation, The Marketing Review, Vol.6, No.1, pp.29-40. 5. Barringer, B. R. & Ireland, R. D. (2006). Entrepreneurship: Successfully launching new ventures. New Jersey, Pearson Prentice Hall. 6. Baumol, W. (2002). The Free Market Innovation Machine: Analysing the Growth Miracle of Capitalism, Princeton University Press, Princeton. 7. Bell, M., Pavitt, K., (1992). Accumulating technological capability. The World Bank Annual Conference on Development Economics.World Bank, New York, pp. 257-281. 9. Blackburn, R. and Kovalainen, A. (2009). Researching small firms and entrepreneurship: past, present and future, International Journal of Management Reviews, Vol.11, No.2, pp.127-148. 10. Blumenthal, A. (1980). Wilhelm Wundt and the Making of a Scientific Psychology, Columbia University, New York. 11. Bolton, J. E. (1971). Report of the committee of inquiry on small firms. London, HMSO. 12. Bosma, N., & Harding, R. (2007). Global entrepreneurship monitor: GEM 2006 results. MA, USA: Babson College and UK: London Business School. 13. Branzei, O. and I. Vertinsky (2006). Strategic pathways to product innovation capabilities in SMEs. Journal of Business Venturing Vol.21, No.1, pp. 75-105. 14. Daniel, E., (1999). Provisional of Electronic banking in the UK and the Republic of Ireland Int. Journal of Bank Marketing. Vol. 17, NO. 2, pp. 72-82 15 18. Fillis, I. (2006). Art for art’s sake or art for business sake: an exploration of artistic product orientation, The Marketing Review, Vol.6, No.1, pp.29-40. 19. 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The Entrepreneurial Organization, London: Prentice-Hall International. 34. Katz, J and Green, R (2011). 3rd ed, McGraw-Hill companies. 35. Kijkuit, B. and van den Ende, J. (2007). The organisational life of an idea: integrating social network, creativity and decision making perspectives, Journal of Management Studies, Vol.44, No.6, pp.863-882. 36. Ko, S. and Butler, J.E. (2007). Creativity: a key link to entrepreneurial behaviour, Business Horizons, Vol.50, pp.365-372. 37. Krugman, P. (1996). Making sense of the competitiveness debate, Oxford Review of Economic Policy, Vol.12, pp.17–35. 38. Kuczmarski, T. (1996). What is innovation? The art of welcoming risk. Journal of Consumer Marketing, Vol.13, No.5, pp.7– 11. 39. Larsen, P., & Lewis, A. (2007). How award-winning SMEs manage the barriers to innovation. Creativity and Innovation Management, Vol.16, No.2, pp. 142 – 151. 40. Lee, S.Y., Florida, R. and Acs, Z.J. (2004). Creativity and entrepreneurship: a regional analysis of new firm formation, Regional Studies, Vol.38, No.8, pp.879-891. 41. M. PORTER (1985), Competitive advantage, Free Press, New York. 42. Marshaley, J (2012). Competitive advantage through innovation, Philippine Daily Inquirer. 43. Martins, E. C., & Terblanche, F. (2003). Building organisational culture that stimulates creativity and innovation. European Journal of Innovation Management, Vol. 6, No.1, pp.67 – 74. 44. McMullan, J.S. and Shepherd, D.A. (2006). Entrepreneurial action and the role of uncertainty in the theory of the entrepreneur, Academy of Management Review, Vol.31, No.1, pp.132-152. 45. Moore, G. (2004). Darwin and the demon: Innovating within established enterprises. Harvard Business Review Vol.82 No.7/8, pp. 86-91. 46. Morris, M. H., Schindehutte, M. and LaForge, R. W. (2003) The emergence of entrepreneurial marketing: nature and meaning. University of Illinois, Chicago. 47. Mumford, M.D., and S.B. Gustafson (1988). Creativity syndrome: integration, application and innovation, Psychological Bulletin, Vol.103, 27-43. 48. Nooteboom, B. (1994). Innovation and diffusion in small firms: Theory and evidence. Small Business Economics. Vol.6, No.5, pp.327-347. 49. Nyström, Harry, (1979). Creativity and Innovation, Chicester, John Wiley and Sons Ltd. 50. OECD (2002), Small and Medium Enterprise Outlook. OECD Publications Service, France. 51. Oke, A., Munshi, N. and Walumbwa, F.O. (2009). The influence of leadership on innovation processes and activities, Organizational Dynamics, Vol.38, No.1, pp.64-72. 52. Perry-Smith, J.E. (2006). Social yet creative: the role of social relationships in facilitating individual creativity, Academy of Management Journal, Vol.49, pp.85-101. 53. Porter, M. 1998. Location, clusters and the new economics of competition, Business Economics, Vol.33, pp.7–17. 55. Rosa, J.A., Qualls, W.J. and Fuentas, C. (2008). 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