The Key Challenges to Utilize Innovative Opportunities of Small and Medium Sized Enterprises in Surabaya, Indonesia
- 10.2991/insyma-18.2018.5How to use a DOI?
- SMEs Challenges, Innovation, Innovative opportunities
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.
- © 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/).
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 - 10.2991/insyma-18.2018.5 ID - AyuKusumawardhany2018/03 ER -