Optimization of Enterprise Innovation Performance in Selected Small and Medium Enterprises (Smes) in Guangdong Province, China: A Framework for Enhanced Growth
Year: 2024
Type: article
Abstract: Innovation has become a key driver of growth for small and medium-sized enterprises in Guangdong, China. This paper analyses, through the lens of 410 SMEs, the drivers of innovation that have been assessed, namely R&D spending, new product or service launches, innovation cycle, and technological content using descriptive statistics, ANOVA, correlation, and regression analytical methods. These factors were assessed for their impact on market competitiveness, brand reputation, customer satisfaction, and profit growth.These suggest that R&D investment, novelty in offering, and technological content positively affect SME growth. The faster the innovation cycle, the better the performance. However, the type of enterprise and operational history has a minimal effect.The following study proposes a framework to enable SMEs to accelerate growth by increasing R&D, speeding up product launches, shortening the cycles of innovation, and improving technology. These strategies provide practical guidance for SMEs and are of use as a reference for similar firms.
DOI: 10.54097/n28vf141
Author: Chunkai Ding
Institution: Adamson University
Language: English
Topic: Firm Innovation and Growth
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405747636