R&D - Strategic elements for innovation and market success
R&D - Strategic elements for innovation and market success

Summary/Abstract: Innovation management in SMEs means not only the operational control of processes, but also the strategic management of the company. A fundamental component of strategic innovation management is the long-term decision to innovate, which is accompanied by the need to establish structures and to provide resources for the acquisition of technology. Therefore, continuous research and development (R&D) is decisive in driving the success of the innovation process onto the market. The empirical analyses of R&D management and innovation success in SMEs uses data from the Third and Fourth Community Innovation Survey (CIS3 and CIS4), and discusses the following topics: firstly, some descriptive statistics on R&D in European SME’s, and in this context a brief discussion of R&D as a core business competence; secondly, the determining factors of R&D in SME’s; finally, the influence of R&D on market success.

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