Innovation and Entrepreneurship: New innovations as source for competitiveness in Finnish SMEs

Research output: Contribution to journalArticleScientificpeer-review

15 Citations (Scopus)

Abstract

This paper analyses the role of innovation in small Finnish entrepreneurial firms. The study is based on a questionnaire survey and semi-structured interviews carried out recently. In light of company cases innovation has been crucial factor for existence of business at the first instance. According to the survey results, identification of market niche and customer needs turns out to be the most important source for innovation among companies. Increase in profitability and competitiveness emerge as the most beneficial impacts of innovation in all companies but also new contacts and co-operation that arise in the process of innovative activity are highly valued, especially in micro firms. Despite of the importance of innovation, small entrepreneurial firms also face number of challenges hampering commercialisation of a novel idea. These range from obstacles pioneer company encounters in gaining market credibility and acceptance to lack of business experience in general. The results are expected to give new information about the role innovations play in building competitiveness in small entrepreneurial firms in Finland.
Original languageEnglish
Pages (from-to)35-48
Number of pages14
JournalInternational Journal of Entrepreneurship
Volume3
Publication statusPublished - 2009
MoE publication typeA1 Journal article-refereed

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Small and medium-sized enterprises
Competitiveness
Innovation
Entrepreneurship
Entrepreneurial firms
Micro firms
Finland
Acceptance
Factors
Pioneers
Innovative activity
Questionnaire survey
Structured interview
Profitability
Market niche
Customer needs
Commercialization
Credibility

Cite this

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title = "Innovation and Entrepreneurship: New innovations as source for competitiveness in Finnish SMEs",
abstract = "This paper analyses the role of innovation in small Finnish entrepreneurial firms. The study is based on a questionnaire survey and semi-structured interviews carried out recently. In light of company cases innovation has been crucial factor for existence of business at the first instance. According to the survey results, identification of market niche and customer needs turns out to be the most important source for innovation among companies. Increase in profitability and competitiveness emerge as the most beneficial impacts of innovation in all companies but also new contacts and co-operation that arise in the process of innovative activity are highly valued, especially in micro firms. Despite of the importance of innovation, small entrepreneurial firms also face number of challenges hampering commercialisation of a novel idea. These range from obstacles pioneer company encounters in gaining market credibility and acceptance to lack of business experience in general. The results are expected to give new information about the role innovations play in building competitiveness in small entrepreneurial firms in Finland.",
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Innovation and Entrepreneurship : New innovations as source for competitiveness in Finnish SMEs. / Oksanen, Juha; Rilla, Nina.

In: International Journal of Entrepreneurship, Vol. 3, 2009, p. 35-48.

Research output: Contribution to journalArticleScientificpeer-review

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AB - This paper analyses the role of innovation in small Finnish entrepreneurial firms. The study is based on a questionnaire survey and semi-structured interviews carried out recently. In light of company cases innovation has been crucial factor for existence of business at the first instance. According to the survey results, identification of market niche and customer needs turns out to be the most important source for innovation among companies. Increase in profitability and competitiveness emerge as the most beneficial impacts of innovation in all companies but also new contacts and co-operation that arise in the process of innovative activity are highly valued, especially in micro firms. Despite of the importance of innovation, small entrepreneurial firms also face number of challenges hampering commercialisation of a novel idea. These range from obstacles pioneer company encounters in gaining market credibility and acceptance to lack of business experience in general. The results are expected to give new information about the role innovations play in building competitiveness in small entrepreneurial firms in Finland.

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