How Do SMEs Manage to Gain New Markets? Principles to Enhance the Innovation Management System: The Case of a Romanian Manufacturer

Amalia Hulubei (Georgescu) () and Silvia Avasilcăi ()
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Amalia Hulubei (Georgescu): Gheorghe Asachi Technical University of Iaşi
Silvia Avasilcăi: Gheorghe Asachi Technical University of Iaşi

Chapter Chapter 41 in Innovation in Sustainable Management and Entrepreneurship, 2020, pp 555-566 from Springer

Abstract: Abstract SMEs (private small- and medium-sized enterprises) are the base of any economy and from here innovation usually starts. But every SME has to understand that in order to succeed they have to make strategic decisions, to plan and to properly implement appropriate action plans in order to achieve high financial and non-financial performances, by accessing the concept of open innovation. There are different types of innovation that an SME can implement and there are plenty of ways to do it, as shown in the present paper. This article provides important information regarding the decision-making and implementing of an innovation management system in SMEs and investigates the organizational capabilities to manage the open innovation system, giving the example of BIOCOMP, a Romanian SME manufacturer company that embraced the innovation strategy in order to save and rise its business to the next level, making it the leader in its field of activity.

Keywords: Management of innovation; SMEs; Open innovation; Organizational change; Core management; Instruments for innovation management; Romanian manufacturer (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-44711-3_41

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DOI: 10.1007/978-3-030-44711-3_41

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