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Technological Adaption and Open Innovation in SMEs: An Strategic Assessment for Women-Owned SMEs Sustainability in Bangladesh

Lingyan Meng (), Md Qamruzzaman () and Anass Hamad Elneel Adow ()
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Lingyan Meng: Faculty of Management and Economics, University Pendidikan Sultan Idris (UPSI), Tanjong Malim 35900, Perak, Malaysia
Md Qamruzzaman: School of Business and Economics, United International University, Dhaka 1212, Bangladesh
Anass Hamad Elneel Adow: Department of Accounting, College of Business Administration Al-Kharj, Prince Sattam Bin Abdulaziz University, Al-Kharj 11942, Saudi Arabia

Sustainability, 2021, vol. 13, issue 5, 1-22

Abstract: Technological adaption and innovative activities foster small and medium enterprises (SMEs) growth by allowing production and process diversifications. Furthermore, open innovation practices, especially SMEs, rely on several firms’ specific attributes, and their impact varies accordingly. This study’s motivation is to explore the impact of technological adaptation and open innovation on SMEs run by women entrepreneurs and the challenges encountered in implementing open innovation. A sample of 580 questionnaires was sent to target SMEs, following the stratified random sampling technique, of which a complete 375 responses were duly received. The open innovation has been measured through eight innovative practices, reflecting the exploration and exploitation of technology in SMEs. This study found that women-owned enterprises were involved in many open innovation policies during the last five years. The result of this study indicated that there are no significant differences between manufacturing and industry regarding open innovation practices. Still, women-owned enterprises are more impressively engaged in open innovation practices. The research also identified that women-owned SMEs follow open innovation, mainly for market-related intentions, to compete with competitors and meet customers’ demands. The study contributes to the theoretical and practical implications. Further, the study is helpful for SMEs, researchers, practitioners, and decision-makers.

Keywords: open innovation; SMEs sustainability; technological adaptation; women entrepreneur; Bangladesh (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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