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The Impact of Environmental Turbulence on the Perceived Importance of Innovation and Innovativeness in SMEs

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  • Mateja Bodlaj
  • Barbara Čater

Abstract

This study investigates how market turbulence, technological turbulence, and competitive intensity affect the perceived importance of innovation and innovativeness, and thus SMEs’ business performance. Structural equation modeling is conducted on a sample of 373 SMEs. Our findings show that both market and technological turbulence increase the perceived importance of innovation, but only market turbulence impacts SMEs’ innovativeness directly. The perceived importance of innovation mediates environmental turbulence’s influence on a firm’s innovativeness. Competitive intensity has no significant effect on the perceived importance of innovation and innovativeness. Finally, innovativeness enhances business performance when using both perceptual and lagged objective performance data.

Suggested Citation

  • Mateja Bodlaj & Barbara Čater, 2019. "The Impact of Environmental Turbulence on the Perceived Importance of Innovation and Innovativeness in SMEs," Journal of Small Business Management, Taylor & Francis Journals, vol. 57(S2), pages 417-435, November.
    • Handle: RePEc:taf:ujbmxx:v:57:y:2019:i:s2:p:417-435
    DOI: 10.1111/jsbm.12482
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    Cited by:

    1. Rubio-Andrés, Mercedes & Ramos-González, Mª del Mar & Sastre-Castillo, Miguel Ángel & Gutiérrez-Broncano, Santiago, 2023. "Stakeholder pressure and innovation capacity of SMEs in the COVID-19 pandemic: Mediating and multigroup analysis," Technological Forecasting and Social Change, Elsevier, vol. 190(C).
    2. Tuyen, Bui Quang & Phuong Anh, Do Vu & Mai, Nguyen Phuong & Long, To Quang, 2023. "Does corporate engagement in social responsibility affect firm innovation? The mediating role of digital transformation," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 292-303.

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