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Fostering an Innovative Climate for the Development of New P among the Malaysian Small Medium Enterprises
Technological innovation is concerned with the use of knowledge for the creation and implementation of new technologies. These can be translated in the form of introducing radically new product to the market, improvement of product features or improvement of the manufacturing processes. Further, it...
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| Format: | Article |
| Language: | English |
| Published: |
2000
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| Summary: | Technological innovation is concerned with the use of knowledge for the creation and implementation of new technologies. These can be translated in the form of introducing radically new product to the market, improvement of product features or improvement of the manufacturing processes. Further, it is generally recognized that the capability of the company to continually innovate or improve its product and processes is the key to its growth and survival. Hence, an innovative climate for new product development (NPD) should be fostered within the company if it does not exist. Technology has been identified to be the essential element towards achieving Malaysia's vision to be an industrialized nation by the year 2020. In Malaysia, small and medium enterprises (SMEs) in the manufacturing sector form a vital component of the Malaysian economy. The importance of NPD to the country's economy is also being instituted in the Industrial Master Plan published by the government in 1985 and 1996. However, the NPD activities amongst the SMEs have not been adequately explored. This paper is based on a sample obtained from a preliminary study of NPD among SMEs. The study identifies the problem... |
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