Technological innovation, investment strategies, and innovation capabilities: Basis for small, medium enterprises competitiveness framework
Year: 2024
Type: article
Abstract: In a competitive global market, this dissertation investigated how Chinese Small and Medium Enterprises (SMEs) can gain an edge.It explores how technological innovation, investment strategies, and innovation capabilities all play a critical role.By examining these factors and their interactions, the research proposed a framework to help Chinese SMEs achieve a competitive advantage.This study explored the technological innovation, investment and innovation capabilities of Chinese SMEs in the new economic situation in order to maintain competitiveness and achieve sustainable development.This employed descriptive research methods, utilizing questionnaire surveys to gather data from a representative sample.The collected data underwent regression analysis to identify relationships between variables.The highly significant correlations across all variables suggest a robust and statistically sound association.There was a statistically significant relationship between technological innovation and technology investment strategies.This suggests that as the technology investment strategies increase, there is a corresponding increase in technological innovation within the observed data.There is also a strong and statistically significant positive relationship between technological innovation and innovation capability.This suggests that organizations with a strong capacity for innovation (e.g., resources, processes, culture) are more likely to achieve higher levels of technological innovation.It is also revealed that there is a strong and statistically significant positive relationship between technology investment strategies and innovation capability.This suggests that organizations that invest strategically in technology are more likely to develop the capabilities necessary for successful innovation.In essence, this analysis highlighted the potential of strategic technology investments to cultivate a strong foundation for innovation within organizations.By helping SMEs identify their strengths and weaknesses in terms of technological innovation, investment strategies, and innovation capabilities, the framework can guide them in allocating resources more effectively.This could involve prioritizing investments in specific technologies, streamlining innovation processes, or fostering a more innovation-friendly culture.
Author: Kaihong Huang
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4401655946