Abstract
Business innovations can introduce novel and imaginative concepts, particularly within digitalization. Innovations have the potential to stimulate the advancement of enterprises, fostering market expansion, enhancing competitiveness, and optimizing profitability. Nevertheless, the implementation of innovation may be achievable in collaboration. Collaborations and interactions between academia and industrial entities may yield improved outcomes. Nevertheless, the presence of obstacles between academia and industries could harm the long-term viability of commercial innovation. The concerns and challenges faced by local institutions and enterprises in Malaysia are examined within the framework of a case study. Data was obtained from a random sample of Chief Executive Officers (CEOs) across several industries. A focus group was conducted with 15 representatives from Small and Medium Enterprise (SME) companies and one moderator to lead the discussion. The findings from the focus group have been transcribed and analyzed based on their sharing. The rationale for focusing on CEOs was their role as critical decision-makers responsible for driving corporate innovations. The collection of perspectives from academia and industries was facilitated through face-to-face interviews. The study provided suggestions for potential avenues of future investigation.
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