“THE INFLUENCE OF TECHNOLOGY AND OPPORTUNISTIC INNOVATION ON WOMEN-OWNED SMALL AND MEDIUM ENTREPRENEURS IN GUJARAT, INDIA”
Background: Small and medium-sized enterprises (SMEs), notably those run by women in Gujarat, India, benefit from technology adaption and innovative activity. However, no extensive research has been conducted on how technological upgradation and innovative activities effect the growth of SMEs in Gujarat, India. Aim:The goal of this study is to identify the effects of technological upgradation andopen innovation policies on the growth of women-owned SMEs as well as the current trends and management problems that must be fixed for open innovation to be successfully implemented all the way through. Research Methods: The study considered a sample of 69 women-owned companies in Gujarat's Waghodia Taluka and Vadodara district. Eight inventive behaviors that quantify open innovation serve as a representation of how technology is used in SMEs. Results: It's interesting to learn that women-owned enterprises have actively participated in various open innovation policies over the past two years. The fact that there are no discernible differences in open innovation approaches between manufacturing and service SMEs is noteworthy, emphasizing a broad and inclusive adoption of these strategies across sectors. The finding that women-owned enterprises are more actively participating in open innovation tactics suggests a proactive and engaged approach to innovation in these businesses. The focus on open innovation for commercial goals, competitiveness with other enterprises, and meeting customer expectations aligns with broader business objectives. The implication that government policies should be centered on innovation for successful SMEs operated by women is a significant takeaway. This suggests a recognition of the importance of fostering an environment that supports and encourages innovation in businesses led by women. Such policies could include financial support, mentorship programs, and initiatives that specifically address the unique challenges and opportunities faced by women entrepreneurs. In conclusion, these study findings highlight the active role of women-owned enterprises in open innovation and emphasize the need for tailored government policies to further support and enhance innovation in this sector. It reflects a broader trend of recognizing the importance of diversity and inclusion in fostering innovation and economic growth. Conclusion: The work adds to the theoretical and practical consequences. The study can also assist SMEs, academics, practitioners, and decision-makers.
Keyword : Open innovation, women entrepreneurship,
This work is licensed under a Creative Commons Attribution 4.0 International License.
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