Fast-growing SMEs and the Role of Innovation
2011 (English)Conference paper (Other academic)
In a study of 409 Swedish SMEs, the difference between the highest growing, which can be characterized as gazelles, and the lowest growing companies were examined regarding performance change 2006-2009 and what contributed to the growth from an innovation perspective. It was concluded that, besides growing, the highest growing companies also showed high profitability, increased number of employees, and significantly higher market shares locally, nationally and internationally than the lowest growing companies. Several traits were found to contribute to this. The highest growing companies had a significantly higher portion of new products as part of the turnover 2006-2009, and they perceived themselves as better than their competitors at: 1) offering better products, 2) understanding customer needs, 3) being agile, and 4) keeping costs down. They also found it more important to take risks, reinvest any profit and to focus on growth than the lowest growing companies, and this regardless of industry.
Place, publisher, year, edition, pages
Lappeenranta University of Technology Press , 2011.
Master of Science
Gazelles, innovation, SMEs, market share growth, perceived competitive advantages, risk-taking
IdentifiersURN: urn:nbn:se:liu:diva-79565ISBN: 978-952-265-167-9OAI: oai:DiVA.org:liu-79565DiVA: diva2:543591
4th ISPIM Innovation Symposium, 29 November - 2 December, Wellington, NZ