Proceedings of the 15th International Symposium on Management (INSYMA 2018)

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

Authors
Prita Ayu Kusumawardhany
Corresponding Author
Prita Ayu Kusumawardhany
Available Online March 2018.
DOI
https://doi.org/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.
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This is an open access article distributed under the CC BY-NC license.

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Volume Title
Proceedings of the 15th International Symposium on Management (INSYMA 2018)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
March 2018
ISBN
978-94-6252-475-0
ISSN
2352-5398
DOI
https://doi.org/10.2991/insyma-18.2018.5How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

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  - https://doi.org/10.2991/insyma-18.2018.5
ID  - AyuKusumawardhany2018/03
ER  -