Open Innovation Strategy and Performance of SME in Sri Lanka
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 3
Abstract
Smesplay Asignificant Role In Any Developing Economy And Most Of Those Enterprisesdo Not Succeed In Any Discipline Domain. In The Research Of Innovation, Their Two Types Basically Known Onopen Innovation (Oi) And Close Innovation (Ci).This Study Mainly Brings Into Focuson Investigatingwhether There Is A Strong Relationship Between Open Innovation Strategies And Organisational Performance Of The Sme Sector In Sri Lanka.The Target Population Of This Study In Comprise The Smes Which Are Operating In The Colombo District And A Sample Of 50 Smes Is Selected Simplyat Random To Effect Achievement Of The Study Objective. Data Was Collected Using Structured Questionnaire Based Onfive-Pointlikert Scale And Data Analysis Techniques Which Aremainly Used Comprise Descriptive Analysis, Correlation Analysis And The Linear Regression Analysis. The Main Findings Of This Study Indicate That All The Independent Variables Are Significantly Correlated With Performance Of The Organisation. Furthermore, Those Variables With The Dependent Variables Of Organizational Performance Representsignificant Regression Model With All The Variables. In Order To Fill The Identified Gaps Can Be Endorsed To The Effect That Customer Involvement For Marketing And Innovation, Outsourcing Research And Development (R&D) And Technology Transfers, Investment From Local And Foreign External Sources, Organising A Venture Business, Joint Venturing And Franchising Be Deemed As Solutions For Open Innovation.
Authors and Affiliations
Kumarasinghe P J
Keywords
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