Innovation and Technology Management in Small Enterprises

            Abstract

            Small businesses enterprises try continuously to achieve a competitive advantage that is sustainable over their competitors who are mainly from the big businesses that are well established and stable.  One of the major sources of small businesses competitive advantage may be derived from the innovation of products or services.  However, the engagement in such innovations is threatening because they hold no guarantee for success.  Therefore, the innovation success depends on the capability of the firm which is strengthened by the particular business strategy that it is utilizing as well as the environment that it is working in. Small business management helps in strengthening technology and innovation in the business market.  The small business enterprises contribute greatly to the general economy by generating employment opportunities for a number of individuals which holds a significant growth and the general economy’s GDP.  Knowledge has emerged to be a benefiting factor and an influence to success on the small enterprises which has replaced the prior factors such as capital and labor.   Innovation and technological management are therefore used by the small business in surviving the globalized and competitive market.  However, some   small enterprises fail in managing the technology and innovation which is utilized in developing services and products thus attaining a non competitive position in the market. The objective of the study is to identify how the management of innovation and technology in small businesses can be developed and identified from the point of view of management.

            1.0 Introduction

            Innovation management is described as the departure mark from the principles, practices and processes of traditional management that affect the mode in which individual’s management work is performed (Morris, Pryor, & Schindehutte, 2012).  On the other and the management of technology is described as  integrated design, planning,  operation, control and optimization of  technological services, processes and products which involve the better management of the general use of technology  in the firm  for  the purpose  of human advantage (Morris, Pryor, & Schindehutte, 2012).  Innovation can thus be termed as the means through which entrepreneurs are able to create fresh wealth producing resources which are enhanced with the potential of generating wealth.  This definition, therefore, states clearly that innovation is directly related to entrepreneurs as an instrument of successful entrepreneurship.  Innovation is, therefore, the procedure   by which firms seeks to gain a competitive advantage in their operation market thus increasing their capability to generate wealth (Information Resources Management Association, 2012).

            Small firms highly require managing their innovation and technology that is utilized in developing products in order to be successful.  This is therefore achieved by the exploitation, application and identification of fresh services, processes, products as well as new opportunities by the firms in strengthening the competitive position (Morris, Pryor, & Schindehutte, 2012).  Innovation and technological management necessitate that the firm should hold the ability to acquire fresh information, hold the ability to convert the gained information into knowledge and have procedures, processes, and resources of applying the converted knowledge in exploration and exploitation f opportunities that may arise.  It is likely that the firm’s capability in becoming innovative may transform as it develops and grows (Information Resources Management Association, 2013).

            2.0 Literature Review

            Some enterprises hold an important role in the economy in the world today.  Based on  the recent studies  suggestion have been made  on that  small business contribute make contributions to the economy in  two distinct ways as they are crucial  element of the general renewal process and also it is a single mechanism in which  many individuals  are  able to utilize in entering the social  mechanism and economic mechanism (Morris, Pryor, & Schindehutte, 2012).  The performances of the small businesses are connected to the requirements of the customers wants.  The business that is able to adopt and manage innovative and technologic strategies in the concept of marketing are therefore most likely to be effective when combined with differential and growth strategies.  The most successful strategy of managing innovation is by utilization of the market-oriented strategic posture which is moderated by the requirements of the clients (Morris, Pryor, & Schindehutte, 2012). 

            Some businesses that are successful are the enterprises which are capable of balancing the two market views, customer led and market orientation with the future needs (Berger Kuckertz,  & Springer International Publishing, 2016).  Innovation plans for the small business are essential as they are connected to the future and present balance of the values of its customers. Innovation in the world today has become the major element within the small businesses in becoming innovative.  This is driven by the resources and customers competition which is becoming more and more intense by the capability of the small firms to be innovative.  Resources capability is, therefore, the most influencing factor than any other element in innovation and technological management and application (Berger Kuckertz,  & Springer International Publishing, 2016).  However, the small business is faced with the issue of resources inadequacy because product development requires well established and stable firms.  Since innovation requires to be transcended in all the operation areas of finance, planning, management of resource as well as marketing small business manage net results to realization lack. This is due t the fact that the operation areas are  managed by the firm’s owner manager  and therefore the management fails in  realizing the  required processes in the implementation of technology and innovation within the small enterprises sectors (Berger Kuckertz,  & Springer International Publishing, 2016).

            If technology and innovation are utilized merely as a single dimensional function as it is common in small enterprises there is an actual probability that improvement will be required via major technological successor as an event in overcoming the potential difficulties that may arise (Lundström, Zhou, Friedrichs, & Sundin, 2014).  For the small business innovation and the technological quest are procedures of changes and improvement. Innovation and technologic management strategies are therefore crucial in ensuring that the small business is fully able to acquire a competitive advantage even with the scarcity of resources (Lundström, Zhou, Friedrichs, & Sundin, 2014).

            In small enterprises, the business culture that results in the interaction existing between the initial founder theories and assumptions, as well as those that are learned by different groups based on their own perspective based on individual experiences, are essential (Morris, Pryor, & Schindehutte, 2012).  The assumption founder will generate professional executives into the small enterprise in contributing to the general organizational skills and functional skills.  The mistrust element may result in when the mangers begin to question the assumptions and theories that were developed initially (Morris, Pryor, & Schindehutte, 2012). 

            Innovation and technological management in small enterprises are very challenging when the business surrounding within where the workers operate is seen by many as being ambiguous and certain. Transformations that are observed in the small enterprises are not special and many mutual small enterprises operate through a transformation in the styles of leadership as the impacts of the inevitable cycle of business (Lundström, Zhou, Friedrichs, & Sundin, 2014).

            2.1 Research Objectives

To determine the general impact of leadership style strategy change on the specific process of innovation.

To establish the influence of subjectivity to the general innovation management task

            2.2 Research Questions

How does innovation and technology management influence the success of small enterprises?

Do resources hinder a small business from effectively managing innovativeness?

What strategies can be utilized in attaining small business success and attaining a competitive position?

            3.0 Research Methodology

            The study methodology part will entail the investigation party of the research.  This will, therefore, generate answers to the questions of the research proposal.  The study methodology purpose will be accomplished by the utilization of a research plan to generate solutions in solving the research issues.

The current research will, therefore, utilize single random sampling techniques as well as descriptive research design.  This will be purposed in investigating on how innovation and technological management can impact small enterprise in gaining competitive position.

            3.1 Research Method

             Qualitative and simple random sampling procedures were chosen with the objective of eliminating biases.  The qualitative design that will be utilized in the study will involve the utilization of questionnaires and interviews. The questionnaires will contain closed and open-ended queries.

            Random surveys will be utilized fully in ensuring that there are no involved biases in the target population selection.  This method is essential in the research in ensuring that the provided feedback by the respondents is reliable and accurate in order to increase the study’s efficiency (Antonisamy, Solomon, & Prasanna, 2010).  Simple random sampling procedure helps in ensuring that every member of the target population is well incorporated.  The small enterprises will hold equal opportunities because the method holds no effect on the selected population.

            Both quantitative and qualitative procedures will seek to answer on how innovation management strategies influence small businesses successes and competitive advantage.  The open and closed questions will help in getting adequate research information in order to increase the research’s reliability (Antonisamy, Solomon, & Prasanna, 2010). The information will hence contribute to the organized understanding of the innovation and technological management issue in small businesses.

            Statistical methods are thus crucial in providing more  reliable findings while qualitative method will provide the meaningful objective which is set by the  sampling observations, interviews, and questionnaires.  Additionally, the qualitative procedure will utilize data that is measurable in formulating and uncover research patterns.  This will incorporate observations and interviews in gathering more study information.

            3.2 Research Rationale

            The study rationale for utilization of a mixed study is to exploit maximum information from the target population.  The mixed method is essential as it provides essential information which can be utilized in comparison with the aim of generating an accurate analysis. The mixed procedure that the study will utilize will ensure that the results are utilized as references in generating solutions. This will, therefore, provide future researchers with grounds to conduct an investigation in providing a suitable recommendation.

            Due to the project I realized that technology and innovation management are essential elements in overcoming competition issues by the small enterprises my education has thus improved because I understand the relationship that exists between innovation, technology and small businesses success.

            3.3 Research Setting

            The target firms will be selected based on their grounds of utilizing innovation and technology in developing provides.

            3.4 Sampling

            The target population will utilize a list of 30 small businesses as the study sampling frame which will be outsourced from the national corporation’s database with the necessary consent.  The sampling frame was essential as it is linked with high processing speed, high level of information as well as favorable cost.

            3.5 Research Instruments

            Data gathering tools that will be utilized in the research will involve the use of interviews, survey tools, observation, and questionnaires.  Interview conducted to the organization’s leaders will involve asking questions and noting down the responses.  The recording will also be utilized with the consent of the respondent to ensure that omission of information does not occur. Questionnaires will be distributed prior to the interviews and collected at the agreed time.

            The data that will be gathered from the study will be analyzed using SPSS. This is because the procedure is more reliable and accurate in measuring the correlation existing between variables. Qualitative information will be analyzed on manual basis while quantitative data will be analyzed using quick impressionist.

            3.6 Methodology Conclusion and Summary

            The research will be essential in developing solutions to the presented research questions. This is by establishing the impact of innovation and technology management strategies on success of small enterprises

            The limitations anticipated is the respondent’s withdrawal based on organization explosion fear.  Additionally finance and time may pose a potential threat to the study because the research requires huge finances and time in accomplishing its purpose.

 

            References

Antonisamy, B., Solomon, C., & Prasanna, S. P. (2010). Biostatistics: Principles and practice.     New Delhi: Tata McGraw Hill Education.

Berger, E. S. C., Kuckertz, A., & Springer International Publishing AG. (2016). Complexity in             entrepreneurship, innovation and technology research: Applications of emergent and       neglected methods. Cham: Springer.

Information Resources Management Association. (2012). E-marketing: Concepts,             methodologies, tools, and applications. Hershey, PA: Business Science Reference.

Information Resources Management Association. (2013). Small and medium enterprises: Concepts, methodologies, tools, and applications. Hershey, PA: Business Science      Reference.

Lundström, A., Zhou, C., Friedrichs, Y. ., & Sundin, E. (2014). Social entrepreneurship: Leveraging economic, political, and cultural dimensions.

Morris, M. H., Pryor, C. G., & Schindehutte, M. (2012). Entrepreneurship as experience: How    events create ventures and ventures create entrepreneurs.