Innovation is vital to advancing living standards and wealth creation. While innovation occurs in many guises, business plays a leading role in creating innovation and translating it into useful applications for the market. Business innovate when knowledge is commercialized, usually in the form of new products, services, processes or business models. Since Schumpeter suggested that large firms are more likely to innovate than their smaller counterparts, researchers and policy makers have examined this phenomenon. In SMEs there has been overwhelming evidence that innovation supports performance, however, the dynamics of this relationship remain ambiguous. This summary examines if networking really contributes to small firms’ bottom line. Read more
Many thanks to Dr Martie-Louise Verreynne, Sarel Gronum and Timothy Kastelle from the UQ Business School for their contributions to the ACE Research Vignette Series.