Relationship between Innovativeness and Strategic Planning - empirical research
Abstract
This paper discusses a research of the relationship between innovativeness and strategic planning in SMEs. In introduction part, the authors attempt to consider relevant findings about this specific relationship in the literature. The paper presents how the EU policy approaches the innovation management system within SMEs and where Serbia stands in catching up the process towards the EU in terms of innovativeness and competitiveness.The main research approach is to examine the relationship between innovativeness and strategic orientation, beginning with the existence of the four key strategic business documents: strategic, marketing plan, business plan and procedures, and innovation strategy documents. The last part is a discussion on the findings and considerations of the intensity of the relations among strategic orientations of the company expressed through presence of the key strategic documents and innovativeness and relations among the three most practiced types of innovation in representative sample of 150 Serbian small and medium enterprises (SMEs).The research has shown that there is positive correlation between strategic planning approach in marketing and firm’s innovativness but the intensity of the relationship depends on the type of the innovativness considered.
References
Bovan A. and Mamula T. 2014.“Energy efficiency as a sustainable management challenge, Case of Serbia”. International Conference МЕSТЕ 2014.ISBN 978-86-6375-011-1, COBISS.SR-ID 206892556.
Cravens, D. 2006.“Strategic marketing’s global challenges and opportunities”.Handbook of Business Strategy. Vol. 7, No. 1, pp. 63-70.
EBRD study 2012. “Raising awareness about the importance of energy efficiency projects in sector of small and medium enterprises in Serbia”, EBRD’s Business Advisory Services in Serbia conducted and funded qualitative research in cooperation with CEDEF and MASMI in December 2012.
Freel, M. S. 2000. “Do Small Innovating Firms Outperform Non-innovators?” Small Business Economics 14(3): 195–210.
Gibbons, P.T. and O'Connor, T. 2005. “Influences on Strategic Planning Processes Among Irish SMEs”. Journal of Small Business Management, 43(2), 170-186.
Global Competitiveness Report 2015.World Economic Forum.http://www.weforum.org/reports/global-competitiveness-report-2014-2015
Gunday, G., Ulusoy, G., Kilic, K., &Alpkan, L. 2011. “Effects of innovation types on firm performance”. International Journal of Production Economics, 133(2), 662-676.
Hashim, M.K. and Abdullah, M.S. 2000. “Development of SMEs: Research issues and agenda” in MA Abdullah & MI bin Baker (eds.), Small and Medium Enterprises in Asian Pacific Countries, Nova Science Publishers Inc, Huntington, NY, Vol. 1, pp. 193-210.
IMP3rove: A European Project with Impact, Europe Innova 2010, paper No 14, European Commission, Enterprise & Industry,http://www.atkearney.de/documents/856314/1214512/BIP_IMProve_A_European_Project_with_Impact.pdf/6cbab35a-29ec-4b85-ba96-b7bd6ced5faa.
Kilic K.Ulusoy G., Gunday G.,Alpkan L. (2015): “Innovativeness, operations priorities and corporate performance: An analysis based on a taxonomy of innovativeness” Journal of Engineering and Technology Management Volume 35 Jan.–March 2015, Pages 115–133
Kotler, P. and Keller, K.L. 2006. “Company-Wide Strategic Planning: Defining Marketing’s Role”. (pp. 38–45). Marketing Management, 14 Edition.
KutlacaDj.,Erawatch, Country Report Serbia for 2012, European Commission, Brussels
Kotler, P., Kartajaya H., and Setiawan I. 2010.“Marketing 3.0: From Products to Customers to the Human Spirit”.Wiley, Business &Economics.ISBN 978-0-470-59882-5.
Kraus, S., Schwarz, E.J. and Harms, R. 2008. “Strategic business planning and success in small firms”.International Journal of Entrepreneurship and Innovation Management, Vol. 8, No. 5.
Lambin, J.J. 2007. “Market-Driven Management: Strategic and Operational Marketing”. 2nd Ed., New York: Palgrave Macmillan.
Mamula T. and Kužet N. 2015. “The role and contribution of coaching style ofthe 21st century’s leader” ,Book of papers “Savremenitrendoviikvalitet u upravljanjuljudskimresursima”, Centarzaekonomskaistrazivanja CEIB, Belgrade
Marjanova J., T. and Stojanovski, M. 2012. “Marketing knowledge an strategy for SMEs: Can they live without it?”Thematic Collection of papers of international significance: "Reengineering and entrepreneurship under the contemporary conditions of enterprise business". pp. 131-143. ISSN 978-86-6125-065-1.
Mosurovic, M. and Kutlaca, Dj. 2011.“Organizational design as a driver for firm innovativeness in Serbia”. Innovation-The European Journal of Social Science Research, Vol. 24, No. 4, December 2011, pp. 427-447
O'Dwyer, M; Gilmore, A.; Carson, D.2009.“Innovative marketing in SME”. European Journal of Marketing 43.1/2. pp. 46-61.
OECD 2005, Oslo Manual.Guidelines for Collecting and Interpreting Innovation data, http:// epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/OSLOEN.PDF
Peacock, R.W. 2004. “Understanding small business: Practice, theory and research”.Scarman Publishing, Adelaide.
Perry, S. C. 2001. ‘The Relationship between Written Business Plans and the Failure of Small Businesses in the U.S”. Journal of Small Business Management 2001 39(3), pp. 201–208.
Popovic-Pantic, S. 2014.“An analysis of female entrepreneurship and innovation in Serbia in the context of EU competitiveness”. Economic Annals, Volume LIX, No 200/January-March 2014, UDC: 3.33ISSN:0013-3264.
Stokes, D. 2006.“Marketing and the SME”, in Evans, D. and Carter S., Enterprise and Small Business: Principles, Practice and Policy’, (2nd Ed.), Boston: Addison Wesley Longman.
Strategy to Support Entrepreneurship and Competitiveness Development of SMEs in 2015-2020. Ministry of Economy of the Republic of Serbia.http://www.privreda.gov.rs.
Wang, C., Walker, E. A. and Redmond, J. L. 2007.“Explaining the lack of strategic planning in SMEs: The importance of owner motivation”. International Journal of OrganisationalBehaviour’, 12(1), 1-16. Original article available on Journal Article is posted at Research Online http://ro.ecu.edu.au/ecuworks/1454/.
Ward, P. T. and Duray, R. 2000.“Manufacturing strategy in context: environment, competitive strategy and manufacturing strategy”. Journal of Operations Management, 18(2), 123-138.
Webster, F.E. Malter, A.J. and Ganesan, S. 2004. “Can marketing regain its seat at the table?” Report No. 03-113, Cambridge: Marketing Science Institute