Managing the innovation potential of small high-tech enterprises

Mariya V. Podshivalova and Sattar K.Kh. Almrshed
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Mariya V. Podshivalova: South Ural State University, Chelyabinsk, Russia
Sattar K.Kh. Almrshed: Al-Muthanna University, Al-Muthanna, Iraq

Upravlenets, 2021, vol. 12, issue 4, 16-27

Abstract: In order to maintain competitiveness amid hyper-competition and digitalization, enterprises engaged in high-tech industries are actively introducing innovative products using methods for enhancing their innovation potential. The paper aims to develop a tool for managing innovation potential of small industrial enterprises. Methodologically, the study rests on the evolutionary approach and innovation management theory. Research methods embrace a matrix method, a mechanism for calculating the beta coefficient, and statistical analysis of panel data from a sample of 345 pharmaceutical enterprises. The article proposes a new method for managing innovation potential of small industrial enterprises that accounts for both the scale of their activity and the special features of high-tech industries. It also includes a method of quantitative assessment and a matrix for strategic decisions in innovation potential development of small producers. The designed method was tested using empirical data from 32 high-tech enterprises. The results prove the importance of the accumulated experience in innovation implementation for assessing small enterprise’ innovation potential and demonstrate its impact on management decision-making. The study contributes to the innovation potential management from the standpoint of an evolutionary approach, and its findings can be used to substantiate the choice of a strategy for developing innovation potential of small high-tech enterprises.

Keywords: innovation potential; industry; small industrial enterprises; pharmaceuticals; high-tech industry; intangible assets. (search for similar items in EconPapers)
JEL-codes: L65 O3 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:url:upravl:v:12:y:2021:i:4:p:16-27

DOI: 10.29141/2218-5003-2021-12-4-2

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