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SME opportunity for growth or profit: what is the role of product and process improvement?

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  • Timothy L. Pett
  • James A. Wolff

Abstract

The process by which small firms avail themselves of the opportunity for growth or profitability is an important issue for firm managers and researchers alike. This study develops a conceptual research model that examines SME opportunities for growth or profitability – two dimensions of performance – derive from innovation that is product improvement oriented or process improvement oriented. The innovation/performance relationship is examined within the context of environmental uncertainty and SME internationalisation actions. The findings of the study suggest that internationalisation and innovation have a positive relationship to product improvements and process improvements, while environmental uncertainty, internationalisation and product improvement have positive relationships with growth as a performance dimension. Indeed opportunity for growth seems to be a more important dimension for SMEs in the sample.

Suggested Citation

  • Timothy L. Pett & James A. Wolff, 2009. "SME opportunity for growth or profit: what is the role of product and process improvement?," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 1(1), pages 5-21.
    • Handle: RePEc:ids:ijeven:v:1:y:2009:i:1:p:5-21
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    Citations

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    Cited by:

    1. Andreas Kallmuenzer & Ursula Scholl-Grissemann, 2017. "Disentangling antecedents and performance effects of family SME innovation: A knowledge-based perspective," International Entrepreneurship and Management Journal, Springer, vol. 13(4), pages 1117-1138, December.
    2. Stefano Denicolai & Birgit Hagen & Alessia Pisoni, 2015. "Be international or be innovative? Be both? The role of the entrepreneurial profile," Journal of International Entrepreneurship, Springer, vol. 13(4), pages 390-417, December.
    3. Ratnawati & Budi Eko Soetjipto & F. Danardana Murwani & Hari Wahyono, 2018. "The Role of SMEs’ Innovation and Learning Orientation in Mediating the Effect of CSR Programme on SMEs’ Performance and Competitive Advantage," Global Business Review, International Management Institute, vol. 19(3_suppl), pages 21-38, June.
    4. Gunday, Gurhan & Ulusoy, Gunduz & Kilic, Kemal & Alpkan, Lutfihak, 2011. "Effects of innovation types on firm performance," International Journal of Production Economics, Elsevier, vol. 133(2), pages 662-676, October.
    5. Hippolyte Nkeng TENENG & Samuel TENJEH MUKAH & Martin NGASSA & Ose HANKO & Sidiki ABOUBAKAR, 2022. "Innovation Capacities and Barriers," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 13(1), pages 140-158, June.
    6. Alfonso Expósito & Juan A. Sanchis-Llopis, 2018. "Innovation and business performance for Spanish SMEs: new evidence from a multi-dimensional approach," Working Papers 1805, Department of Applied Economics II, Universidad de Valencia.
    7. Garcia-Perez-de-Lema, Domingo & Madrid-Guijarro, Antonia & Martin, Dominique Philippe, 2017. "Influence of university–firm governance on SMEs innovation and performance levels," Technological Forecasting and Social Change, Elsevier, vol. 123(C), pages 250-261.

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