Pioneering research into the nature of innovation in small and medium sized enterprises (SMEs) has revealed that ambitious, smaller enterprises are more likely to focus on incremental innovation, rather than radical developments.
The research, carried out by Cranfield School of Management, contradicts the traditional and widely held belief that SMEs tend to focus on radical innovations because of their agility, flexibility and entrepreneurial management style.
The most successful, ambitious SMEs are in fact those which have achieved growth by ‘sticking to the knitting’ – selling more of their existing products or services to their existing market.
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