What Are the Barriers of Innovation in Smes
2013
Innovation, Creativity and Enterprise Assignment
What are barriers of innovation within SMEs?
[Type the author name]
[Type the company address]
Innovation, Creativity and enterprise Assignement.
Contents
1. Introduction. 2 2. Literature review. 4 2.1. Innovation. 4 2.2. SMEs. 6 2.3. Barriers of innovation in SMEs. 8 3. Findings. 9 3.1. Top barriers. 10 3.2. Financial constrains. 10 3.3. Shortage in skills in innovation management. 11 3.4. Bureaucratic obstacle. 12 4. Conclusion. 13 5. List of reference. 13
1. Introduction.
In the present time, while the world is sheltered of the creepy financial crisis, SMEs is one of the main sectors stimulating the economy out of the recession. In the UK economy, they accounted for 99% of all enterprises and provide over 59% of private sector employment (BERR, 2008). Meanwhile, the globalization of the markets requires the revolution of companies to survive, even SMEs have to introduce new products of higher quality and gain competitive advantage of new technology. Innovation is a difficult undertaking, especially for businesses with small experience and limited resources (Herstatt et al. 2008). Tiwari and Buse (2007) recognise that, Innovative ideas and products are playing increasingly important role responding to the price oriented competition from low-cost producers from emerging economies, on home turf and abroad. On this crucial score, however, SMEs often find themselves confronted with a number of barriers to innovation which hinder their capacity to invent and successfully commercialize new products, services or processes, see e.g. Herstatt et al. (2008).
This paper aims to examine addressed barriers of innovation for SMEs under scope of reviewing previous researches. The following diagram is explaining how the essay is framed briefly.
2. Literature review.
2.1. Innovation. Though, there are a lot of research on the connection between SMEs performance and innovation (
Innovation, Creativity and Enterprise Assignment
What are barriers of innovation within SMEs?
[Type the author name]
[Type the company address]
Innovation, Creativity and enterprise Assignement.
Contents
1. Introduction. 2 2. Literature review. 4 2.1. Innovation. 4 2.2. SMEs. 6 2.3. Barriers of innovation in SMEs. 8 3. Findings. 9 3.1. Top barriers. 10 3.2. Financial constrains. 10 3.3. Shortage in skills in innovation management. 11 3.4. Bureaucratic obstacle. 12 4. Conclusion. 13 5. List of reference. 13
1. Introduction.
In the present time, while the world is sheltered of the creepy financial crisis, SMEs is one of the main sectors stimulating the economy out of the recession. In the UK economy, they accounted for 99% of all enterprises and provide over 59% of private sector employment (BERR, 2008). Meanwhile, the globalization of the markets requires the revolution of companies to survive, even SMEs have to introduce new products of higher quality and gain competitive advantage of new technology. Innovation is a difficult undertaking, especially for businesses with small experience and limited resources (Herstatt et al. 2008). Tiwari and Buse (2007) recognise that, Innovative ideas and products are playing increasingly important role responding to the price oriented competition from low-cost producers from emerging economies, on home turf and abroad. On this crucial score, however, SMEs often find themselves confronted with a number of barriers to innovation which hinder their capacity to invent and successfully commercialize new products, services or processes, see e.g. Herstatt et al. (2008).
This paper aims to examine addressed barriers of innovation for SMEs under scope of reviewing previous researches. The following diagram is explaining how the essay is framed briefly.
2. Literature review.
2.1. Innovation. Though, there are a lot of research on the connection between SMEs performance and innovation (