March 19, 2012
“Never put off until tomorrow what you can do the day after tomorrow.”
Important Effects of Innovation: Norwegian SMES
The following paper was written by Sherry Robinson of Penn State University and Buskerud University College and Hans Anton Stubberud of Buskerud University College. It was presented at the 2011 Allied Academies International Conference in Orlando.
Innovation is frequently viewed as the key to success in many arenas, from individual businesses to a nation’s general economic growth. Business performance has been linked to overall innovativeness (Akgun, Keskin, Byrne & Aaren, 2007), and in a study of British SMEs, innovative firms were more likely to be operating profitably while non-innovators were more likely to be struggling (Gray, 2006). It is not surprising, then, that innovation is seen as a vital element in economic growth in Norway (Norwegian Ministry of Trade, 2010). Similar to many other nations, Norway is dominated by small and medium-sized businesses (Norwegian Ministry of Trade, 2010). SMEs face increases challenges in innovating due to their small size and limited resources. According to Eurostat (2009), larger companies are more likely than SMEs to control the resources necessary for innovation, including human and financial capital. This study uses data from the Eurostat Community Innovation survey to more closely examine innovation by
Innovation is frequently viewed as the key to success in many arenas, from individual businesses to a nation’s general economic growth. It is seen as a vital element in economic growth in Norway (Norwegian Ministry of Trade, 2010), where the economy is dominated by small and medium-sized businesses (Norwegian Ministry of Trade, 2010). SMEs, however, face significant challenges in their attempts to innovate due to their small size and limited resources. According to Eurostat (2009), larger companies are more likely than SMEs to control the resources necessary for innovation, including human and financial capital.
This study uses data from the Eurostat Community Innovation survey to more closely examine innovation by analyzing the self-reported effects of innovation on Norwegian SMEs. These reports effects are compared by business size, including small (10-49 employees), medium (51-249 employees) and 250 or more employees. In the next section, a brief review of the motivation for innovation is presented, followed by the methodology, results and analysis of this study.
TIP OF THE WEEK
Building Customer Profiles for a CRM Program
Most entrepreneurs say that the best way to stay in touch with customers and to identify their needs is to talk to them. Such conversations lead to a detailed understanding of each customer and thus offer insights from which to build a customer profile, a collection of information about a customer, including demographic data, attitudes, preferences, ad other behavioral characteristics, as defined by CRM goals. IN a very small business, the customer profiles maintained in the entrepreneur’s head often constitute the company’s CRM “database.” At some point in a company’s growth, however, it becomes impossible for the small business owner to continue to develop profile using this method alone. It is then time to turn to formal, computer-based databases.
Customer profile are essential to a successful CRM program, as they represent building material for the required knowledge of customers. Customer contact data, from sources such as warranty cards and accounting records, can be used to develop a profile. For Web-based ventures, current information can be collected at the point of contact, as customers order online.
• Transactions. A Complete purchase history with accompanying details such as price paid, SKU (which identifies the product purchased), and delivery date.
The fourteenth annual conference of the National Business & Economics Society will be held March 6 through March 9, 2013 at the Marriott Los Suenos Ocean Resort & Casino in Herradura, Costa Rica. NBES is a multi-disciplinary academic association which focuses on promoting interdisciplinary research of both a theoretical and practical nature. It includes scholars from the fields of Finance, Accounting, Marketing, Management, Information Systems, Operations Research, Economics, Public Health & Administration, Psychology and related areas. Our goal is to broaden the expertise of business school academics and other professionals by promoting access to research and ideas in all disciplines. For more information, click here.
2012 marks a special year for NASBITE International who has been assisting trade professionals, educators, and government in bridging the gap in trade education and promotion for 25 years! Portland, Oregon, “The City of Roses” will be a memorable location. As the ??second largest city in the Pacific Northwest, it is known for its scenic beauty, sustainable business focus, and lively music scene. The conference will be held at the Nines Hotel. Rooms are still available at the Nines on April 20 and 21. For more information, click here.
ICSB 2012 Public Agencies Forum
How can government bodies – such as policy departments, advisory services, regulators and service agencies – develop the most effective means of engagement, communication and information sharing with small businesses?
The Forum will explore the many differentways that agencies have done this, using international examples from across the world and to also share the findings of research activities which can shed some light on how such engagement mightbe more effectively tailored in future.
The event will be held in conjuction with the ICSB 2012 conference June 14th in Wellington Town Hall, New Zealand. For more information, click here.
Southern Management Association
It’s time to start planning for the Southern Management Association’s 2012 Annual Meeting. The SMA meeting will take place October 30-November 3, 2012 in Fort Lauderdale, Florida. The meeting will be held at the Westin Beach Resort and Spa. The hotel’s waterfront location offers access to miles of beautiful white beaches, but is also close to shops, entertainment, and business centers. For more information, click here.
Flip the Switch Workshop
Are you frustrated with technology distractions in the classroom? On June 1st in Philadelphia, PA we’ll show how to hijack these distracting mobile devices to engage with students at a deeper level and bring them back into the learning conversation. For more information, click here.
International Council for Small Business will be holding its International World Conference during June 10-13, 2012 in Wellington, New Zealand. For more information, click here.
CALLS FOR PAPERS
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Small Business Advancement National Center - University of Central Arkansas