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Product Innovation:An Opportunity for Economic Growth in Colombian SMES


Affiliations
1 Universidad de Sucre, Colombia
2 Universidad del Atlantico, Colombia
 

Objective: Evaluate the current situation of product innovation in Colombian SMEs, to analyze opportunities for improvement that may arise in these organizations. Methodology: A descriptive/quantitative study was carried out; the population was made up of SMEs from the city of Barranquilla. The sampling was carried out intentionally, 55 selecting companies with the following inclusion criteria: employees between 20 and 50 persons, companies with 3 to 5 years of operation. The instrument applied was designed under a Likert scale and validated by Alfa de Cronbach. The tabulation and analysis of the information was done in SPSS version 23 to facilitate interpretation. Recommendations: The information gathered suggests the importance of motivating product innovation, as companies do not currently promote this category at a higher level. Conclusion: For SMEs, there is a great opportunity for growth to the extent that product innovation is embraced, although it is a process that requires more time, investment and space, it is a relevant aspect to grow in competitiveness.
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  • Product Innovation:An Opportunity for Economic Growth in Colombian SMES

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Authors

Wiliam Niebles Nunez
Universidad de Sucre, Colombia
Danilo Hernandez Rodriguez
Universidad del Atlantico, Colombia
Ignacio Barrios Parejo
Universidad del Atlantico, Colombia
Hugo Hernandez Palma
Universidad del Atlantico, Colombia
Leonardo Niebles Nunez
Universidad del Atlantico, Colombia

Abstract


Objective: Evaluate the current situation of product innovation in Colombian SMEs, to analyze opportunities for improvement that may arise in these organizations. Methodology: A descriptive/quantitative study was carried out; the population was made up of SMEs from the city of Barranquilla. The sampling was carried out intentionally, 55 selecting companies with the following inclusion criteria: employees between 20 and 50 persons, companies with 3 to 5 years of operation. The instrument applied was designed under a Likert scale and validated by Alfa de Cronbach. The tabulation and analysis of the information was done in SPSS version 23 to facilitate interpretation. Recommendations: The information gathered suggests the importance of motivating product innovation, as companies do not currently promote this category at a higher level. Conclusion: For SMEs, there is a great opportunity for growth to the extent that product innovation is embraced, although it is a process that requires more time, investment and space, it is a relevant aspect to grow in competitiveness.

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DOI: https://doi.org/10.17485/ijst%2F2018%2Fv11i25%2F129968