Small and Medium-sized Enterprises (SMEs)

Thomas Henschel and Ilka Heinze

Chapter 2 in Open Innovation and Knowledge Management in Small and Medium Enterprises, 2018, pp 7-34 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In this chapter, we will introduce small and medium-sized enterprises (SMEs) by defining and discussing characteristics of SMEs in qualitative and quantitative terms. In doing so, this chapter takes an international perspective to account for regional and international differences. As SMEs are often owner-managed, individual attitudes to management and decision-making play an important role in management and governance issues. Therefore, major research findings that contribute to a better understanding of the complex dependencies of SMEs from their owners are presented. Finally, we will address recent challenges and discuss how SMEs can address them to identify and exploit business opportunities.

Keywords: Open Innovation; Knowledge Management; Innovation Management; Small and Medium-Sized Enterprises; SMEs; Small Firms (search for similar items in EconPapers)
JEL-codes: O31 O32 (search for similar items in EconPapers)
Date: 2018
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