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Small Scale Enterprises ( SME ) and its contribution to economy

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Getting Singapore in shape: Economic challenges and how to meet them

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Stock PriceCheck is a discovery and comparison platform. We are not able to clarify on stock availability as this information is not provided to us by the merchant. The final section presents the conclusions reached from the study. Literature Review. Henrik sees innovation as the successful implementation of a creation and this innovation seems to foster growth, profits and success. Combining various views, Zaltman, Duncan and Holbek defined innovation as any idea, practice or material artefact perceived to be new by the relevant unit of adoption. In other words, organisational innovation has been consistently defined as the adoption of an idea or behaviour that is new to the organization Lin, ; Wang, The innovation can either be a new product, new technology, new service or new administrative practice Hage, Many companies today are innovative, bringing about new ideas and modifying existing ones into their offerings because of the competitive nature of the market.

Innovation is however different from invention. They must create conditions in which innovation can thrive in their companies Baporikar, Apart from the overt focus on innovation and the entrepreneurial success, the studies by Olson and Schwab , Knott , Baer and Frese merely rely on process innovations while studies of Atuagene Gima report on product innovations. On a final note regarding innovation, according to Oman , the newness that innovation portrays in the improvement of products, services or process can be described in two ways, technical innovation and administrative innovation.

The technical innovation has to do with technology, products and services. The administrative innovation on the other hand, deals with improved procedures, policies and organizational forms. More generally, Brem and Voigt consider better access to such external resources to be a vital policy instrument to support the innovative capacity of the business sector, especially to achieve entrepreneur knowledge development and an inclination to innovation. Moreover, innovation management is the beginning, development and, as the case may be, implementation of technical and socio-technical initiatives of management business.

Entrepreneurship

In addition, several studies Hauschildt, ; Pittaway, et al. Research Methodology, Data and Results. The analysis presented in this paper is based on the elements of mathematical statistics which are currently used to evaluate the quality of innovation products Hardle, ; Ifrim, , but the novelty it brings resides in the introduction and use of four other economic and performance indicators related to the variations of cost and time for rubber and plastic product sector. They are used alongside the classical indicators and provide a reliable model for assessing the innovation process of Innovative Indian SMEs.

The data was segregated by small and medium firms fewer than employees are considered to reflect upon the current state of innovation among SMEs in India. The relevant literature on different success factors towards organization innovation capability is reviewed in order to enable development of the research conceptual model and hypothesis.

Othman et al. An overview on organization innovation capability in India can be shaped by conducting a qualitative study that could bring together the defining profile of innovation among SMEs in India. There were completed questionnaires out of submitted. It is also important to note that all completed questionnaires were checked in terms of background completeness and usefulness of data and using the statistical program previously mentioned, data analysis was materialized through frequency tables and histograms for each item, and the centralization of all items.

The intention behind applying the hypothesis is that of analysing the innovation processes in order to establish the correlations between the input and the output variations. Based on this, it will be possible to identify the actions to be undertaken in order for the innovation to reach its objectives without extra costs. The evaluation of the main economic and financial indicators starts at the initial moment based on the data only relevant for small and medium-sized firms fewer than employees from the rubber and plastic product sector the highest innovative SME potentiality which are considered to reflect upon the current state of innovation among SMEs in India.

Table 1 shows the marginal and conditional frequencies for each innovation type of the rubber and plastic product sector. These frequencies are similar to the correlation analysis for qualitative data although the frequencies are not symmetric. Table 1 includes a description of the variables used in the study based on the average innovation costs.

Table 1.

Multinationals and East Asian Integration

Sample Statistics rubber and plastic product sector firms. Sample: SMEs. Product Innovators. Process Innovators. New for the firm but not for the market. New for the market. Innovation costs. Less than 5 years old products in total innovation costs:. Figures are indicative.

In order to achieve the research objectives the following hypotheses were considered:. The main indicators average, mean, module, standard deviation, variant, amplitude of the variant, minimum, maximum, sum of all the observations, skewness coefficient, kurtosis coefficient, quartiles specific for the first hypothesis, highlight the fact that calculated for the recordings, all valid, the skewness coefficients 0.

The study carried out highlights that most of the finance product innovators is represented by government funds The research found that the three hypotheses of the study were confirmed Table 1 — 6 , contributing to the scientific funding of the portrait of the potential of an innovative capacity SMEs in India. Calculation table for the testing of the first hypothesis. Error Mean. The main reason underlying the innovation type of the rubber and plastic product sector choice is economic. Table 2. Testing of the first hypothesis.

Mean Differece. Table 3. Calculation table for the testing of the second hypothesis. The main source of finance product innovators is represented by government funds. Source: Authors adaptation based on the data obtained following the research undertaken.


  • Inequality in Asia: the case for inclusive growth.
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Table 4. Testing of the second hypothesis. Table 5. Calculation table for the testing of the third hypothesis. Difficulties encountered. Table 6. Testing of the third hypothesis. The study wanted to identify relevant aspects of innovation in specific business practices and focused its attention both on the main traits of product innovators and process innovators, the key needed in this area and also on the obstacles encountered, their perceptions regarding source of finance and how they want their business to evolve in the future.

Nowadays, most small enterprises from India focus on the environmental dimension of sustainable innovation by improving their green products. This research work examined the perspective of innovation on the entrepreneurial success in business enterprises in India. The study has proven that innovation has a significant and positive relationship with corporate image for long term.


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