A review on Innovation and its Strategic Importance to the Growth of Small and Medium Enterprises (SMEs)

  • Siti Noraisah Musneh Universiti Teknologi MARA Cawangan Sabah Kampus Kota Kinabalu
  • Sylvia @ Nabila Azwa Ambad University Teknologi MARA, Cawangan Sabah, Kampus Kota Kinabalu
  • Rosmimah Mohd Roslin Arshad Ayub Graduate Business School, Universiti Teknologi MARA
Keywords: innovation, competitiveness, Small and Medium-sized Enterprises (SMEs)

Abstract

This is a conceptual paper to review the innovation concept and determine the strategic importance of innovation towards the growth of Small and Medium-sized Enterprises (SMEs) globally. The study reviews the extant literature on the role of innovation in keeping SMEs competitive and sustainable in their business. This study’s findings show the evidence from past literature on the importance of innovation to SMEs’ growth, and its effect on SMEs if they failed to innovate. Another information that SMEs can gain when reading this paper is the definitions of innovation viewed from different perspectives and help SMEs get involved with relevant innovation activities.

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Published
2021-02-07
How to Cite
Musneh, S. N., Azwa Ambad, S. @ N. and Mohd Roslin, R. (2021) “A review on Innovation and its Strategic Importance to the Growth of Small and Medium Enterprises (SMEs)”, Malaysian Journal of Social Sciences and Humanities (MJSSH), 6(2), pp. 275 - 281. doi: https://doi.org/10.47405/mjssh.v6i2.664.
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Articles