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Innovation in small and medium enterprises: the impact of open innovation practices on firm's performance

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  • Gabriele Santoro

Abstract

Small and medium enterprises (SMEs) are widely recognised as an important source of innovation and economic development. Moreover, recent studies suggest a new 'open' model in innovation management process. Although this new open model has established as a common feature in many industries, yet, it is unclear whether SMEs have open-up their boundaries, and whether this strategic choice can enhance firm's performance. From this point of view, the aim of the paper is to evaluate the effect of openness in innovation on Italian SMEs' performance, using a new parameter to assess the degree of openness in introducing new products. Results show that Italian SMEs do engage in open innovation and this strategy has deep and positive effects on performance.

Suggested Citation

  • Gabriele Santoro, 2017. "Innovation in small and medium enterprises: the impact of open innovation practices on firm's performance," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 19(5), pages 508-520.
    • Handle: RePEc:ids:gbusec:v:19:y:2017:i:5:p:508-520
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    Citations

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    Cited by:

    1. Omar Carrasco-Carvajal & Mauricio Castillo-Vergara & Domingo García-Pérez-de-Lema, 2023. "Measuring open innovation in SMEs: an overview of current research," Review of Managerial Science, Springer, vol. 17(2), pages 397-442, February.
    2. Santoro, Gabriele & Bresciani, Stefano & Papa, Armando, 2020. "Collaborative modes with Cultural and Creative Industries and innovation performance: The moderating role of heterogeneous sources of knowledge and absorptive capacity," Technovation, Elsevier, vol. 92.
    3. Laima Gerlitz & Gunnar Klaus Prause, 2021. "Cultural and Creative Industries as Innovation and Sustainable Transition Brokers in the Baltic Sea Region: A Strong Tribute to Sustainable Macro-Regional Development," Sustainability, MDPI, vol. 13(17), pages 1-22, August.
    4. Duc Anh Nguyen & Liliana Mitkova, 2024. "Recent research trends in open innovation in SMEs: a bibliometric literature review," Post-Print hal-04712830, HAL.
    5. Duc Anh Nguyen & Liliana Mitkova, 2024. "Recent research trends in open innovation in SMEs: a bibliometric literature review," Post-Print hal-04712828, HAL.
    6. Vanessa Pertuz & Adith Pérez, 2021. "Innovation management practices: review and guidance for future research in SMEs," Management Review Quarterly, Springer, vol. 71(1), pages 177-213, February.
    7. Santoro, Gabriele & Mazzoleni, Alberto & Quaglia, Roberto & Solima, Ludovico, 2021. "Does age matter? The impact of SMEs age on the relationship between knowledge sourcing strategy and internationalization," Journal of Business Research, Elsevier, vol. 128(C), pages 779-787.

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