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Implementing the Innovation Strategy in International SMEs

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  • Daniel Rusu

Abstract

Thanks to a relationship of mutual interdependence developed between the formulation of the internationalization strategy and innovation, on a larger scale they are entitled as decisive factors in the process of lasting growth of SMEs. The aim is to study the connections between internationalization, innovation and strategy as well as the results in terms of business competitiveness, covering a relatively consistent gap in terms of knowledge and inconclusive or even diffuse interactions regarding these interactions. In terms of internationalization, innovation and strategy, failure rates are quite high and have correspondingly consistent costs for companies. These are related to implementation details. Assuming there is a poor implementation of internationalization, innovation and strategy and to the extent that firms examine in detail each dimension of their business, they will tolerate an increase in costs. Even in these conditions, contrary to their weight, many SMEs do not have structured processes and protocols for internationalization, innovation and strategy. In entrepreneurial micro-enterprises, which is the main object of research, this aspect is particularly important and real. Identifying the tools used by companies to design the processes of development and implementation of internationalization, innovation and strategy, determinants and causes is very important to identify the main factors with particular impact on business performance and how these effects act or occur.

Suggested Citation

  • Daniel Rusu, 2021. "Implementing the Innovation Strategy in International SMEs," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 24(82), pages 103-119, December,.
    • Handle: RePEc:rej:journl:v:24:y:2021:i:82:p:103-119
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    References listed on IDEAS

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    More about this item

    Keywords

    Organizational Change; Diagnostic Evaluation; entrepreneurship; strategy; SMEs;
    All these keywords.

    JEL classification:

    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management

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