THE INFLUENCE OF TECHNOLOGY AND OPPORTUNISTIC INNOVATION ON WOMEN-OWNED SMALL AND MEDIUM ENTREPRENEURS IN GUJARAT, INDIA

Abstract

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 advancement and creative activities effect the growth of SMEs in Gujarat, India.

Purpose: The goal of this study is to identify the effects of technology and open 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: According to study findings, throughout the past two years, women-owned enterprises participated in a variety of open innovation policies. According to the poll, there are no discernible differences in open innovation approaches between manufacturing and service SMEs; nevertheless, women-owned enterprises are more actively participating in these tactics. The findings also demonstrate that women-owned SMEs embrace open innovation, primarily for commercial goals, to compete with other enterprises and meet customer expectations. In light of this, it is suggested that government policies relevant to successful SMEs operated by women be centered on innovation.

Conclusion: The work adds to the theoretical and practical consequences. The study can also assist SMEs, academics, practitioners, and decision-makers.