Trusted sources of innovation in small business

Le résumé fourni par la source

Innovativeness is the basis for competitive advantage and business performance of micro-, small-, and medium-sized enterprises. Successful implementation of innovations is related to the exploration of various external and internal sources of innovation. The question is to what extent the black swan events in the global economy may affect the exploration of these trusted sources of innovation in small business practice. Taking this into account, the aim of the chapter is to assess the impact of COVID-19 on the exploration of trusted sources of innovation in the theory and practice of SME companies. This aim was achieved through multinational survey research conducted in a sample of 758 innovative SMEs from six European Union countries: Sweden, Finland, Germany, the United Kingdom, the Czech Republic, and Poland. The results indicate that the exploration of internal trusted sources of innovation increased significantly during the COVID-19 pandemic. However, in detail, the extent of exploration of individual trusted sources of innovation remained mostly unchanged. The only thing observed was a significantly lower exploration of specialized meetings as a trusted source of innovation during the COVID-19 pandemic. Results confirm small business’ high level of resilience in using trusted sources of innovation under disruptive economic conditions.

Ce résumé expose les affirmations des auteurs. BNTIC ne l’interprète pas comme une validation indépendante des résultats.