The role of innovation in the competitiveness of an SME and the development of a framework and leadership strategy for successful innovation

Abstract

This thesis attempts to develop a framework for innovation in small and medium businesses which if successfully implemented should allow the business to grow and develop. This framework was developed during the author’s tenure as a Knowledge Transfer Partnership (KTP) associate at к с Engineering Ltd. Background information on innovation and its inputs and outputs is reviewed in order to gain a better understanding of what is involved in the innovation process. Firstly the role of innovation in economic growth is reviewed, then the small and medium business particularly in the North East of England is examined in order to gain an improved understanding of the constraints within which к с Engineering was operating. A framework for innovation is then proposed, this develops a guide which if used by the small or medium business, should facilitate structured and focused innovation activities which will add value to the business. The requirements of leadership and organisational structure are then discussed. Final conclusions are then drawn and recommendations for further work are made.