The Key Challenges to Utilize Innovative Opportunities of Small and Medium Sized Enterprises in Surabaya, Indonesia

DOI

10.2991/insyma-18.2018.5How to use a DOI?

Keywords

SMEs Challenges, Innovation, Innovative opportunities

Abstract

The world has entered an era of disruptive innovation where transformation is needed. In the conceptual age, a business needs to have new experiences and create ideas. This paper aims to identify the most important challenges of Small Medium-Sized Enterprises (SMEs) in utilizing innovative opportunities. The main issue facing many SMEs - industrial and service with less than 50 employees, is how they can nurture effective innovation. There were 118 questionnaires distributed and gathered from SMEs in Surabaya, Indonesia. This research used factor analysis which shows the six main challenges: lack of managerial training and experience, inadequate education and skills, national policy and regulatory environment, technological change, lack of market information, and lack of credit. A qualitative approach through interview was also used for interpretation of data. In conclusion, human capabilities and intelligence are not enough to compete but require technology and information to creatively transform.

Copyright

© 2018, 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/).

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TY  - CONF
AU  - Prita Ayu Kusumawardhany
PY  - 2018/03
DA  - 2018/03
TI  - The Key Challenges to Utilize Innovative Opportunities of Small and Medium Sized Enterprises in Surabaya, Indonesia
BT  - Proceedings of the 15th International Symposium on Management (INSYMA 2018)
PB  - Atlantis Press
SP  - 19
EP  - 22
SN  - 2352-5398
UR  - https://doi.org/10.2991/insyma-18.2018.5
DO  - 10.2991/insyma-18.2018.5
ID  - AyuKusumawardhany2018/03
ER  -