Do SMEs cluster around different types of innovation activities? Are there patterns of SME innovation activities? To investigate we develop a taxonomy of innovation activities in SMEs using a qualitative study, followed by a survey. First, based upon our qualitative research and literature review we develop a comprehensive list of innovation activities SMEs typically engage in. We then conduct a factor analysis to determine if these activities can be combined into factors. We identify three innovation activity factors: R and D activities, incremental innovation activities and cost innovation activities. We use these factors to identify three clusters of firms engaging in similar innovation activities: active innovators, incremental innovators and opportunistic innovators. The clusters are enriched by validating that they also exhibit significant internal similarities and external differences in their innovation skills, demographics, industry segments and family business ownership. This research contributes to innovation and SME theory and practice by identifying SME clusters based upon their innovation activities.
|Title of host publication||Promoting Innovation In New Ventures And Small- And Medium-sized Enterprises|
|Subtitle of host publication||Series on Technology Management|
|Publisher||World Scientific Publishing|
|Number of pages||26|
|Publication status||Published - 15 Sept 2017|
Bibliographical notePublisher Copyright:
© 2018 by World Scientific Publishing Europe Ltd.
- cluster analysis
- factor analysis
- innovation activities
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
- Business, Management and Accounting(all)