Ways to Form Innovation Business Development Strategies for Small and Medium Business
Kaunas University of Technology
Gaining and developing competitive advantage against segment competitors is one of the key issues, discussed in Management and Economics discipline, articles, publications and researches. In order to gain competitive advantage or increase market share companies often allocate large number of resources, however, in many cases, the effect of such an investment is highly disputed by company’s executives. Authors of the book “Blue Ocean Strategy” W. Chan Kim and R. Mauborgne introduced and alternative, innovative way to create a new market value by eliminating the competition between rivals. This article analyses different ways and methods, how innovation business development strategies can be created by small and medium business entities in Lithuania. By the method of experts evaluation one can find out that company’s executives more likely tries to create innovative strategies, orientated to alternative products or services.
Keyword(s): competition; development strategies; small and medium business
Management Theory and Studies for Rural Business and Infrastructure Development
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This journal is published under the terms of the Creative Commons Attribution-Noncommercial 3.0 Unported License. Responsible editor: Dr Audrius Gargasas.