Aspects of Innovation and Leadership in Small and Medium Enterprises
Aspects of Innovation and Leadership in Small and Medium Enterprises

Summary/Abstract: Innovation is the characteristic function of the company's resources. A technologically efficient collaboration, with support from other partners, significantly develops and improves technological capabilities as well as product innovation performance. Both from a local and regional perspective, in knowledge-based economies, innovation is defined as a particularly important pillar. Logically, innovation is not feasible without a well-informed leader: If the latter is not anticipating new ideas and new implementation techniques to face the rapidly changing environment, subordinates will not certainly be. This raises the importance of leadership in the innovation process in SMEs. To ensure their competitiveness globally, SMEs must enjoy effective leadership which is unanimously regarded as a transformational one. Consequently, it is this type exactly that will be considered throughout this article. This paper uses secondary data sources to address the topic and its impact. It ends up by focusing on the importance of leadership in creating and communicating a clear vision toward adopting innovation as an important survival strategy in the long run.

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