Innovation Strategy for Creating Successful Small and Medium Businesses

DOI

10.2991/icame-18.2019.53How to use a DOI?

Keywords

Innovation Strategy, Creating of Small & Medium Business Successful

Abstract

This study aimed to explore the innovation strategy and the link between human capital, social capital, and financial capital as a factor that determines the success of small & medium businesses. The approach is through the study of literature. The results show 1) human capital as in the dimensions of education, skills, experience, entrepreneurship determines the success of SMEs, especially in increasing product quantity and quality, sales and market share, capital and profit, customer satisfaction and competitiveness of SMEs. 2) Social Capital as in the dimensions of kinship, association, institutional, and professional networks determine the success of SMEs, especially in increasing product quantity and quality, sales and market share, capital and profit, customer satisfaction and competitiveness of SMEs. 3) Financial capital: as in the dimensions of access to financial institutions, sources of funding, investment and financial management determine innovation strategies such as the dimensions of the discovery and improvement of production methods / technologies, the creation of new products, product development and improvement, new market discoveries and market expansion. 4) Innovation strategies such as the dimensions of the discovery and improvement of production methods & technologies, the creation of new products, product development and improvement, the discovery of new markets and market expansion determine the success of SMEs, especially in increasing product quantity and quality, sales and market share, capital and profit, customers satisfaction and competitiveness of SMEs.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Wihalminus Sombolayuk
AU  - Ria Mardiana Yusuf
PY  - 2019/08
DA  - 2019/08
TI  - Innovation Strategy for Creating Successful  Small and Medium Businesses
BT  - Proceedings of the 3rd International Conference on Accounting, Management and Economics 2018 (ICAME 2018)
PB  - Atlantis Press
SP  - 507
EP  - 526
SN  - 2352-5428
UR  - https://doi.org/10.2991/icame-18.2019.53
DO  - 10.2991/icame-18.2019.53
ID  - Sombolayuk2019/08
ER  -