Inculcating Innovation Culture and Developing Strategic Management of Technology and Innovation Plan in SME’s for Wealth Creation to support Malaysia National Entrepreneurship Policy 2030

Aini Suzana Ariffin

Abstract


This paper discusses on how to inculcate innovation culture and to plan, implement and manage strategic management of technology and innovation in Malaysian Small and Medium Enterprises (SMEs) for wealth creation, business sustainability and shared prosperity. It is agreed by many government agencies and scholars that SMEs play a vital role in the country’s economic development; hence, it is important and significant to gain useful insights into the critical success factors that affect their future success and development. In the face of globalisation and the merge of IR 4.0, SMEs need to transform themselves into highly competitive and resilient organisations to stay ahead of the curve and on the forefront of their industries. Also it is the right time for SMEs to identify and leverage on their success factors for a sustainable competitive advantage in today’s rapid technology changes and challenging economy.

Keywords


Innovation culture; SME; economic development; globalisation

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