Identifying enablers of technological innovation for Indian MSMEs using best–worst multi criteria decision making method

MSMEs (Micro-small and Medium Enterprises) can alter the economic scenario of any developing nation owing to their inherent ability to transform new ideas into innovations and thus successful business enterprises. However transforming the socio-economic status of a developing country is not an easy...

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Bibliographic Details
Published in:Technological forecasting & social change 2016-06, Vol.107, p.69-79
Main Authors: Gupta, Himanshu, Barua, Mukesh Kumar
Format: Article
Language:English
Subjects:
Best–worst method
Business
Companies
Competition
Decision making
Developing countries
Development policy
Economic policy
Economics
Entrepreneur
Entrepreneurship
Globalization
Governments
Innovation
Innovations
LDCs
Literature reviews
Manufacturers
MSMEs
Multiple criteria decision making
Multiple criterion
Resources
Small & medium sized enterprises-SME
Small business
Socioeconomic factors
Socioeconomic status
Studies
Tasks
Technological change
Transforms
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Summary:MSMEs (Micro-small and Medium Enterprises) can alter the economic scenario of any developing nation owing to their inherent ability to transform new ideas into innovations and thus successful business enterprises. However transforming the socio-economic status of a developing country is not an easy task. Manufacturing organizations especially MSMEs need to focus on important enablers of innovation to sustain global competition. This study aims at identifying important enablers of technological innovation in the context of Indian MSMEs. Extant literature review and expert judgment are used to identify enablers of technological innovation. A novel multi-criteria decision making technique called best–worst method is applied to find out most important enablers among these. Research results indicate project resources and capabilities; technical know-how of entrepreneurs and government policies as most important enablers contributing significantly towards technological development of MSMEs. •Thirteen enablers of technological innovation in MSMEs have been identified.•Best–worst multi-criteria technique has been used to rank enablers.•Project resources are most important for carrying out technological innovations in MSMEs.
ISSN:0040-1625
1873-5509
DOI:10.1016/j.techfore.2016.03.028