Management Innovation and Firm Performance: A Case Study of SMEs of Pakistan
Globally, SMEs got great interest among social scientist and recommended that innovation is one of the best sources to achieve a potential contribution of SMEs.Hence,no one can ignore and underestimate the importance and dynamic roleof SMEs in today competitive and globalized world.In addition, current literature suggested that qualified, experienced and innovative owners/ managers are more influential towards SMEs innovativeness. Due to lack of innovative managerial capabilitiesmost of the SMEs of developing countries face problems while focusing on innovation. So new management practices needed to alter the way of doing business. This is qualitative inquiry, to dig out the elements of firm innovativeness with regard to management. Hence, the aim of the paper is to link the management innovation with firm innovativeness, and to propose a model that plays as a paradigm for the owner/ mangers, business practitioners, researchers and policy makers to focus on that element for the growth and sustainability of SMEs and economy as a whole.
Key Words - Firm Performance, Innovation, Management Innovation, SMEs