Benchmarking of factors influencing adoption of innovation in software product SMEs: An empirical evidence from India

Sumukh Hungund, Venkatesh Mani

Research output: Contribution to journalArticle

Abstract

Purpose: The purpose of this paper is to investigate the factors influencing small and medium enterprises’ (SMEs) adoption of innovation approaches. Design/methodology/approach: The methodology involves two steps. First, all the variables relevant to the adoption of innovation in SMEs are identified. Subsequently, primary data are gathered from decision makers of 213 SMEs, and a multinomial logistic regression analysis is performed. Findings: The results indicate that SMEs adopt both open innovation and closed innovation approaches. The firm-level factors such as firm age, firm size, education qualification, work experience and culture, and external factors such as customers, competition, technological advances and ecosystem influence adoption of open innovation approach compared to closed innovation approach. Factors such as culture among firm-level factors and competition among external factors influence the adoption of closed innovation approach. Practical implications: The study helps the managers or the decision makers of the SMEs to know the suitable factors influencing the firm to adopt innovation which could potentially help the firms in their business strategy. Originality/value: The study explores the adoption of innovation approaches of SMEs in emerging economies. The outcomes of this research have far-reaching implications for theory and practitioners in emerging economies.

Original languageEnglish
Pages (from-to)1451-1468
Number of pages18
JournalBenchmarking
Volume26
Issue number5
DOIs
Publication statusPublished - 01-07-2019
Externally publishedYes

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Small and medium-sized enterprises
Software
Benchmarking
Adoption of innovations
Influencing factors
Empirical evidence
India
Innovation
Factors
Emerging economies
External factors
Decision maker
Open innovation
Technological advances
Multinomial logistic regression
Firm size
Business strategy
Design methodology
Qualification
Education

All Science Journal Classification (ASJC) codes

  • Business and International Management

Cite this

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Benchmarking of factors influencing adoption of innovation in software product SMEs : An empirical evidence from India. / Hungund, Sumukh; Mani, Venkatesh.

In: Benchmarking, Vol. 26, No. 5, 01.07.2019, p. 1451-1468.

Research output: Contribution to journalArticle

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