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Innovation processes: do they help or hinder new product development outcomes in Irish SMEs?

Robbins, Peter orcid logoORCID: 0000-0002-5223-7718 and O'Gorman, Colm orcid logoORCID: 0000-0003-4732-7433 (2016) Innovation processes: do they help or hinder new product development outcomes in Irish SMEs? Irish Journal of Management, 35 (1). pp. 88-103. ISSN 2451-2834

Small- and medium-sized enterprises (SMEs) make a considerable contribution to the development and diffusion of innovation as well as accounting for the bulk of economic activity and employment in Ireland. A formal process for managing the stages of innovation projects is generally cited as a key component of best practice in new product development (NPD). Successfully managing innovation is an important business objective for SMEs, and yet, relatively little is known about how innovation-active firms approach innovation and, specifically, whether firms use formal processes to manage their NPD activities. This study of innovation-active Irish SMEs finds that three quarters of firms report that they do not operate a formal innovation process, yet this is not associated with poorer performance in terms of revenues from new products and services; and there are few differences between firms with formal innovation processes and firms with informal innovation process across each stage of the Innovation Value Chain. Having a more formal innovation process is, however, associated with success at bringing novel products to market. This study contributes to our understanding of the management of innovation in SMEs and to the emerging literature on SMEs that has emphasised both the prevalence and the effectiveness of informal management processes.
Item Type:Article (Published)
Uncontrolled Keywords:innovation; innovation audit;, Ireland; IVC;, NPD; SME
DCU Faculties and Centres:DCU Faculties and Schools > DCU Business School
Research Institutes and Centres > National Centre for Family Business
Publisher:De Gruyter Open
Official URL:https://doi.org/10.1515/ijm-2016-0006
Copyright Information:© 2016 The Authors
ID Code:28261
Deposited On:17 Apr 2023 09:49 by Luke O'callaghan Smith . Last Modified 09 Mar 2024 10:36

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