Entrepreneurial Behaviors and Strategic Paths in Innovative SMEs: Evidence from Italy's Campania Region

Abstract

Understanding what drives innovation is essential to securing competitiveness in the current knowledge-based economy. Do innovative firms share particular characteristics that enable them to pursue their strategic paths? And what lessons can other businesses learn from their experiences? An analysis of eight innovative Italian small- and medium-size firms reveals significant similarities in their leaders’ personal traits, motivation, and behavior, despite differences in corporate purpose and strategy. These common characteristics, both in terms of organization and operations, can be considered the essential elements that allow innovative firms to achieve and maintain a competitive advantage, despite the challenges of their work environment. Clearly focused on their core business, the leaders are highly educated, primarily motivated by values rather than profit, creative, and able to adapt to changing circumstances. Their organizations also share several key characteristics, including flexibility, a high level of delegation, effective communication, careful attention to customer demand, willingness to network and partner with competitors, and a strong focus on research. ©2015 Wiley Periodicals, Inc.