Identifying enablers of technological innovation for Indian MSMEs using best–worst multi criteria decision making method

Abstract

MSMEs (Micro-small and Medium Enterprises) can alter the economic scenario of any developing nation owing to their inherent ability to transform new ideas into innovations and thus successful business enterprises. However transforming the socio-economic status of a developing country is not an easy task. Manufacturing organizations especially MSMEs need to focus on important enablers of innovation to sustain global competition. This study aims at identifying important enablers of technological innovation in the context of Indian MSMEs. Extant literature review and expert judgment are used to identify enablers of technological innovation. A novel multi-criteria decision making technique called best–worst method is applied to find out most important enablers among these. Research results indicate project resources and capabilities; technical know-how of entrepreneurs and government policies as most important enablers contributing significantly towards technological development of MSMEs.