Firm Behavior in SME and Innovation

SMEs entail small and medium-sized business facilities that are independent and employ fewer employees than the projected number depending on the region. Primarily, SMEs have more than 30 staff but does not surpass 250 employees. The paper explores the SMEs firm behavior using framework and entrepreneur innovation.

Firm Behavior Using Framework

SMEs entail particular elements of organizational traits. There are various elements of the SMEs organizational buying traits which tend to be aligned to the product specific elements, supplier focused elements, buyer frim elements, economic aspects, market concentrated elements, decision makers and data sourcesalongside intermediaries. For the essence of being effective, the seller organizations have to try in comprehending the buying traits of the client firms. However, the purchasing procedure of the client firms has a significant complexity which comes from its properties of being multi-emphasized(Covin and Slevin, 1991). SMEs entail distinct large firms based on the organizational composition, systematic arrangement, human resources, market and clients and the culture in their operations. Firm behavior in SMEs has been outline in some theories and perspectives. This entails the buy-classes theory, open system theory, and operational perspective and reward theory.

Buy-classes theory considers the organizational buying as a procedure of sequential practices. Their framework entails the phase model and buy-class. The phase model entails the business activities being introduced. The SMEs are regarded as entities that undergo particular stages to develop a buying decision which entails problem acknowledgment, general need projection, product outline, supplier search and the performanceassessment. Additionally, the consumers buying procedures entails the stages being focused on the attempt to go into buying procedure relying on buying model, for instance modified rebuy and straight rebuy.

Moreover, SMEs buying behavior is based on the pen system theory. This entails that the SME is an open system that comprises of the sub-systems and is enjoined in a larger system that are highly interacted. The behavior of individual system however impacts and is affected by the behavior of the system. Hence, for the essence of understanding the SME buying behavior, the sub-systems and other significant systems have to be understood. The systems referred to as influencers tend to be divided into four entities which entail the environment, organizational, buying center and individual engagements. The environment influencers comprises of physical, technological, economic, political, legal and cultural environment Additionally, the physical and technological environment retail suppliers, clients and the authorities that are responsible in regulating the SMEs. Conclusively, other business entities and other social firms are considered as legal and cultural environment. The SMEs determinants of buying traits tend to be the technology that is associated with purchasing, the structure of the buying entity and the SME objectives. SMEs buying behavior also tends to be based on the buyer behavior theory. This entails the purchasing process being determined through the impact of some external efforts on the cognitive procedure of an individual for a commodity(Covin and Slevin, 1991). It directs the SMEs into three parts of operational lay out. These entail the psychological perspective of the participants of the buying decisions, the circumstances that influence the decisions among the parties and the joint decision making procedure alongside conflict existing between the decision makers and the solution. Moreover, alongside the three significant points, operational approach is an essential approach to the SME buying behavior. Base on the organizational aspect, this perspective aims at ensuring that it integrates the processes, rationales and techniques that enhance the actual practice of managing. Moreover, it entails a primary element of science and concept that is based on science and technology specific to the management alongside selective concepts from other approaches. The operational approach is primarily focused on the concept that is significant to the management of the SMEs, so is not extensive to the point of enlisting the factors that entail relationships despite the fact that they may be associated to the management of the SME. From this approach, there existsmodels that have the objective of making the SMEs be practical and precise for the SME operations.

Additionally, the behavior of the SMEs when explored from a psychological view tends to be asserted as a type of work behavior. This entails the projection of the SME’s behavior based on the reward theory which is an expected framework of motivation that is based on the reward processes of the SMEs. Hence, the SME have the reward and measurement systems that have the objective of ensuring that they encourage the new parties of itsactivities.

Thus, apart from the current organizational buying behaviorframeworks, the relationship-focusedentities tend to be an essential element the purchasing behavior of the SMEs. When the SMEs develop a significantpurchasing rationale, relationship focused elements such as trust, loyalty and communication quality develop into becoming outstanding for decision makers. Small buyers stand chances of enhancing long term relationships with their suppliers where the SMEs will be more loyal to the suppliers. Moreover, the SMEs-supplier tends to be individual and commercial at the same time. Hence, SEMs tend to manage this relationship and basically outline this supplier for an essential organizational purchase instance. Hence, as portrayed, the element of SMEs’ organization buying behavior projects some of the particular traits: these elements are differentin some extent from the elements of the current organizational buying behavior framework outlined as related to the large firms. Thus, the SMEs entail some buying behaviorelements which are crucial to them. Thus, professional marketers have to consider the components when planning and executing the relevant factors when focusing on the SMEs. For instance, the supplier-frim co-existence based elements such as trust;loyalty and communication tend to be prevalent in the SMEs processes. This many result in firms and marketing experts for the SMEs be distinct to build their marketing mix for the SMEs distinct from large firms. For instance they may incorporate more significance on promotion elements such as personal selling.

Innovation in SME

Innovation in SMEs entails actions that enhance mostly intermediate support to the SMEs. Moreover,innovation in SMEs’ funds additional processes aim at enhancing support based on the entrepreneurship, internalization and enhancing the access to the markets. Innovation in SMEs is objective in ensuring that it maximizes the research and development and innovation environment for the SMEs, entailing through the enhancement and provision of various support services with the goal of improving the innovation capability of SMEs and establishing value on the market thus facilitating the sustainable growth of the SMEs.

Innovation in SMEs entails actions that enhance intermediate support for the SMEs. These processes exist in the form of tailored projects, networking and the mobilizationactivity for innovation service providers and decision markets. This entails the network relevant to enhance a provision in the enhancement of SME’s access to funding opportunities, for example by facilitating brokerage a service for the SMEs exploring that is under an exploration. Innovation in SMEs’ facilitates a top-up to the budget of the initiatives responsible to the SMEs that aid in the market-focused transnational collaborative projects. The initiative collectstogether the natural resources with the objective of enhancingintegration of the national research relatingto the SMEs. Primarily, technology has been placed as one technique to incorporate innovation in business. Innovation is segregated into four main forms which entail innovation based on product, procedures, market and organization. Each of these elements depends on technology as a way of innovating through social networking, easy access to data through internet and technology tools in business operation. Generally, the success and growth of the SMEsrely on the SME’s potentiality to innovate on a progressive manner. Innovation in SMES is tied n particular circumstances.Though appropriate idea management and innovation management is primarily as essential for the competitiveness of the SMEs similarly to the large firms.

Innovation in SMEs depicts that all the new ideas are developed and directing them systematically towards success. This has to start to the ideas competition within the frim thus enabling the employees to come up with a topic that is accepted by all the relevant parties. Hence, from the designation of the SME’s website to the brand of the new commodity, there is need to ask for ideas. There is need to create an idea jury that will regulate the selection process of ideas. The essence of this is to ensure that the best ideas are executed. Hence the idea management and innovation management software tend to support the execution of the idea competitions hence making the innovation in SMEs be more quick and easy.

For SMEs to be productive there have to be innovation coaches and idea partners. The innovation coaches entail contact individuals for employees who have the concepts and would like directions on how effectively to implement them while the idea partners entail managers that avail themselves in pushing the ideas into implementation within the overview of the SMEs for the essence of create potentialities.

Innovation in SMEs tends to be an issue for the whole firm. There exist various philosophies in innovation management. This entails outsourcing innovation and digitization and designing the topic to the firm’s specialist departments. Some SMEs incorporate a mixed framework where there are particular forms of innovation that are executed in departments for other teams are established(Love &Roper, 2015). Innovation in the SMEs does not primarily need individual departments. Innovation management is regularly a responsibility of all the employees, for instance both the official staffs and subordinate staffs in the SMEs(Akinwale, Adepoju&Olomu, 2017). The SMEs tend to be effective with the framework of distributing the innovation management to distinct managers of the firm than with the development of their individual departments. The rationale behind this is that the SMEs are projected by the rationale that they develop innovative issue solutions for clients quickly. Distributing innovation to the whole organization means incorporating and enhancing the present innovation culture. For particular tasks, for instance particular tasks-working teams are usually designed, which tend to dissolve over a particular period. Own departments for innovation management in SMEs tend to be relevant if they are to execute concrete projects that are attained from the operations. This includes the enhancement of digital innovations in the SMEs.

Innovation in SME entails high extent of internal networking. Innovations in the SMEs are projected as an extreme puzzle that is projected in various entities in the SME. When enhancing the improvement of new commodities and digital innovations, it is essential to acknowledge the appropriate the right sections of the puzzle in the perceptions of the employees and relate them effectively(Rahman, Yaacob&Radzi, 2016). With a firm volume of less than 100 employees,most SMEs staffs are not aware of what others know. Hence, the larger the SME, the more difficult it becomes to integrate. However, the rapid internal exchange of concepts remains one of the most essential competitive advantages. Firms that desire to propel innovation in SMEs effectively usually ensure that the employees het free entry to the ideas of other staffs. Innovation managers in SMEs tend to enhance their ow types of knowledge, for instance, the innovation know-how through the designation of digital business frameworks and design thinking, digital expertise such as the web design and also it is possible for the employees to gain access intotheir know-how through the free text-fields. SMEs acknowledge the relevant technical resources through the innovation process hence capitalizing on the innovation to enhance productivity.

References

Akinwale, Y. O., Adepoju, A. O., &Olomu, M. O. (2017).The impact of technological innovation on SME’s profitability in Nigeria. International Journal of Research, Innovation and Commercialisation, 1(1), 74-92.

Covin, J.G. and Slevin, D.P. (1991) A Conceptual Model of Entrepreneurship as a Firm Behavior. Entrepreneurship Theory and Practice, 16, 7-25.

Love, J. H., & Roper, S. (2015). SME innovation, exporting and growth: A review of existing evidence. International small business journal, 33(1), 28-48.

Rahman, N. A., Yaacob, Z., &Radzi, R. M. (2016). An overview of technological innovation on SME survival: A conceptual paper. Procedia-Social and Behavioral Sciences, 224, 508-515.

Get professional assignment help cheaply

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.

Why choose our academic writing service?

Plagiarism free papers
Timely delivery
Any deadline
Skilled, Experienced Native English Writers
Subject-relevant academic writer
Adherence to paper instructions
Ability to tackle bulk assignments
Reasonable prices
24/7 Customer Support
Get superb grades consistently

Get Professional Assignment Help Cheaply

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

Plagiarism free papers
Timely delivery
Any deadline
Skilled, Experienced Native English Writers
Subject-relevant academic writer
Adherence to paper instructions
Ability to tackle bulk assignments
Reasonable prices
24/7 Customer Support
Get superb grades consistently

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
We will have a different writer write the paper from scratch.
Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment Help Service Works

1. Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2. Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3. Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4. Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!

Firm Behavior in SME and Innovation